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Summary and Comments

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1998-05-31 08:28:01


70% of Canada's Busineses Have Done Nothing



The Royal Bank of Canada says that 70% of Canadian businesses have done nothing on y2k.

If this is up to date, then it says Canada will collapse.

If this is old information (and the page says that it has been updated this spring), then the Royal Bank's site is useless. It is on this site that it says that it is working hard on the problem -- no updates regarding its actual progress, however.

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How big is the Y2K problem?

The Y2K problem likely affects about 80 per cent of the world's computer systems, and will cost an estimated $600 billion to correct. In Canada alone it is a $35 billion to $45 billion problem. It's estimated only 30 per cent of Canadian business are doing anything about the problem now. Studies show that only 50 per cent of businesses that may be affected by Y2K problems will be ready to deal with it by the end of 1999. That's why the Royal Bank is raising the issue.


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