Digital transformation sits atop the strategic agenda for enterprises, according to a Forbes Insights and Hitachi survey of 573 top executives worldwide. The next two years are critical in this regard, as half of them believe that their organizations will be vastly digitally transformed in that time.
It won't be an easy undertaking. Technology is at the core of every digital transformation, with the digital transformation imperative ushering in an era of unprecedented change. However, digital transformation is not about technology. Rather, it uses technology as a means to an end and goes beyond business. digital transformation (DX) is as much about the transformation of how individuals work and the cultures of organizations as it is about technology. Its most difficult task is to change the way we think.
Digital transformation concerns every business, not just the likes of Uber or Airbnb. Large, long-time industry leaders also need to be innovative if they don't want to be replaced by the next hot startup.
How ready are companies for this complex and difficult undertaking? Survey results and one-on-one conversations with top executives reveal that a transition toward digital maturity involves five major steps, some of which will be easier to take than others.