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"Energy companies stayed old school for a very long time due to high oil prices — it was easy to make money just doing what they did. The price drop forced them to find innovative ways to make a profit," said Li.

"Employers are becoming more selective in their hiring decisions, and focusing greater attention on soft skills, culture fit and aptitude for ongoing learning. Various new technologies and heightened consumer expectations continue to bring about unparalleled changes across retail banking, which indicates transformation within the sector is far from complete," he said.

"Downside risks to the US outlook seem to have receded in the latter part of the year (2019), as the conflicts over trade policy diminished somewhat, economic growth abroad showed signs of stabilizing, and financial conditions eased," the report said.

"Despite signs of recovery in the second quarter of 2020, the market took a wait-and-see approach in pursuing PE/VC deals," said Wilson Chow, PwC global TMT industry leader.

"Electric cars are not rocket science and there is no need for the government to make an exception," he said.