Digital Transformation Services Strategy for Industries
Digital transformation provides industry with unparalleled opportunities for value creation. It used to take Fortune 500 companies an average of 20 years to reach a billion-dollar valuation; today’s digital start-ups are getting there in four. Digital technologies are creating new profit pools by transforming customer expectations and how companies can address them.
At the same time, digitalization could produce benefits for society that equal, or even surpass, the value created for industry – the mass adoption of autonomous vehicles and usage-based car insurance, for instance, could save around 1 million lives by 2025. At present, digital transformation is not well understood, and a number of myths are obscuring the path to realizing its potential for value creation. The initiative demystifies some of the most common myths about digital, revealing, for example, the true extent of disruption by digital start-ups and how the impact of automation on employment is likely to be very different from today’s received wisdom on the subject.