Over the last decade since 2007, much has changed. The changes have been especially steep on the digital transformation side with the rise of ride and hotel sharing apps, smartphones and newer technologies such as the Internet-of-Things and machine learning. Thus, management consulting giant PwC conducted a study to gauge the Digital IQ of various firms. It was found out that surprisingly, the digital preparedness of companies has not witnesses as much drastic change as was expected. In fact just over half those companies polled responded to confidence about their Digital IQ as opposed to fifteen percent increase just the last year. While earlier IT was a support to various activities, now they are at the heart of all departments’ annual budgets. While only a third of CEOs were considered by their organizations as technology champions, the percentage has more than doubled now. Just two-fifths of CIOs were a part of the corporate strategy drafting team, but now they are almost ubiquitous at the highest table. The best performers were ones that were able to design the human experiences around technology.

Source:https://hbr.org/2017/05/how-the-meaning-of-digital-transformation-has-evolved?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.org%29

Uploaded Date:14 July 2017