Randstad’s Finance team recently hosted a thought-provoking webinar featuring leading economist Vicky Pryce. The session explored the evolving digital landscape and what it means for finance professionals—covering everything from regulation and risk to cybercrime and workforce resilience.
Here’s a quick recap of the key insights and practical advice shared during the session.
the digital age: big opportunities, bigger risks.
The digital era brings powerful benefits—better productivity, streamlined communication, and real-time data. But it also introduces new and growing risks.
Top concerns on the radar:
- Geopolitical unrest: Ongoing conflict in Ukraine and the Middle East, tensions with China, and uncertainty around global alliances like NATO.
- Climate change: The gap between insured and actual climate risk is widening, pushing demand for smarter forecasting tools.
- Fiscal pressure: High national debt and post-pandemic spending are increasing tax and cost burdens on businesses.
- Trade protectionism: Slowing global trade, worsened by Brexit, sanctions, and tariffs, is weighing down growth forecasts.
- Cybercrime: Ransomware and data breaches are rising sharply, affecting businesses across all sectors.
While automation is changing the game, human expertise remains essential. Analytical thinking, adaptability, and communication are still irreplaceable.
technology, trust, and the human factor.
Despite heavy investment in AI and digital tools, productivity gains have been underwhelming. One big reason? A lack of trust in digital systems—especially in sectors like logistics, retail, and transport—where transparency and data security are critical.
And while automation is changing the game, human expertise remains essential. Analytical thinking, adaptability, and communication are still irreplaceable. There's also a growing demand for digital transformation specialists—but a shortage of skills and training is holding progress back.
what finance leaders should do next.
To stay ahead in this shifting landscape, finance professionals should focus on:
- Keeping up with regulation: Financial rules are evolving fast. Stay informed and be ready to adapt.
- Engaging with regulators: Build strong relationships and contribute insights to help shape practical, risk-based regulations.
- Putting cyber security on the boardroom agenda: It’s no longer just an IT issue—it’s a business-critical risk that needs top-level attention and funding.
- Building people-powered cyber resilience:
- Understand where your vulnerabilities are.
- Invest in continuous training and skills development.
- Strengthen relationships with third-party vendors.
- Pushing for international coordination: Fragmented regulations increase costs. Advocate for global alignment to reduce complexity.
- Embracing digital transformation with purpose: AI and automation can drive innovation—but only when used strategically.
- Tackling the digital skills gap: Upskill your current workforce and bring in the right talent to meet future demands.
the bottom line?
The digital age is full of promise, but it’s not without challenges. With the right mix of foresight, tech strategy, and human capital, finance leaders can steer their organisations toward greater resilience and long-term success.
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Vicky Pryce
chief economic adviser
Vicky Pryce is an economist and business consultant. Her current roles include the post of Chief Economic Adviser at the Centre for Economics and Business Research (CEBR) and Visiting Professor at King’s College London. She was previously Senior Managing Director at FTI Consulting, Director General at the Department for Business, Innovation and Skills (BIS) and Joint Head of the UK Government Economic Service. Before that she was Partner at the accounting and consulting firm KPMG after senior positions in banking and the energy sector. She is the author of numerous books and a regular media commentator.