Digital transformation is the fundamental rewiring of how an organization operates to leverage digital technologies and data to create new business models, products, and services, and to improve efficiency, customer experiences, and overall performance. It is a customer-driven, digital-first approach to all aspects of a business, from its business models to customer experiences to processes and operations. Digital transformation involves rethinking and redesigning the entire business ecosystem to take advantage of the opportunities presented by digital technologies.
Digital transformation often involves adopting Open source, Open data, and Open hardware (3Os) and 4 emerging technologies (Artificial Intelligence (AI), Quantum Computing, Internet of Things (IoT), and Robotics (4Es)) to stay competitive in the modern business landscape. By leveraging these technologies, organizations can create new business models, products, and services, and improve their efficiency, customer experiences, and overall performance.
Successful digital transformation requires a variety of coordinated actions. It involves crafting a clear strategy focused on business value, building a strong talent bench with in-house engineers, and developing an operating model that can scale. It also requires a culture of innovation and experimentation, where employees are encouraged to take risks and learn from failures. Organizations that successfully transform digitally are able to create new sources of value, improve their competitiveness, and deliver better outcomes for their customers and stakeholders.
