Digital transformation (DT) is the process of adoption and implementation of digital technology by an organization in order to create new or modify existing products, services and operations by the means of translating business processes into a digital format.

In challenging economic times, operational efficiency and cost optimization can also become important transformation objectives.

Successful digital transformations yield ongoing business benefits: Digital technologies and processes enable organizations to adeptly respond to customer demands in the present and as demands evolve. Digital transformation also builds the infrastructure and skills required for taking advantage of fast-evolving technologies that could confer a competitive advantage.

A digital transformation strategy positions organizations to survive and thrive in a future where technology is the critical economic driver.

Transformation requires cultural adjustment as well as technology adoption. Business leaders must build agile organizations able to deal with change and uncertainty as permanent fixtures of corporate life. In doing so, they’ll be better equipped to navigate rapidly emerging developments such as the latest generation of artificial intelligence (AI). AI is poised to have an enormous influence on the methods and goals of digital transformation.