Leading companies that amplified their technology investments during the COVID-19 pandemic have significantly extended their growth advantage over competitors. The research reveals that technology has undeniably become indispensable to business success and directly enables companies to not only survive, but even thrive during one of the most disruptive times in history. The report shows that by stepping up investments in cloud, artificial intelligence (AI) and other technologies, 'Leaders' are now growing revenue at five times the rate of 'Laggards. In sharp contrast, many Laggard companies just recently invested in newer technologies for the first time, largely to maintain business and technology operations during the pandemic. A new category of companies has emerged: Leapfroggers (18% of the entire sample), that stands out in their ability to quickly master the balance between systems strength and increased innovation.

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