Digital transformation is being driven by AI that is acting as a catalyst for business advancement. We looked at eight cases of digital transformation and found nine main themes. The nine main themes identified here are: (1) Digital transformation leaders will constantly innovate, while digital transformation laggards will have a stop-start approach. (2) There are no simple answers, or a single way to go forward, with digital transformation. (3) Each sector of the economy has its own opportunities, challenges and must find its own path forward. (4) Changes in one sector of the economy, such as the financial sector, will send a ripple of change across other sectors of the economy. (5) Change needs a shared vision, and digital transformation needs leaders to create the shared vision. (6) Digital transformation needs trust and cooperation on every level: Teams, organizations, governments and super-organizations like the EU. (7) People will still have a role: Staff, customers and other stakeholders are still important. (8) There is a dark side of digital transformation that may have not been fully revealed to us yet. And finally (9) Digital transformation should happen hand in hand with sustainability and resilience.
Link to open access book chapter:
https://doi.org/10.1007/978-3-031-33665-2_1
Reference:
Zarifis A., Efthymiou L. & Cheng X. (2023) ‘Sustainable digital transformation in finance, tourism, transport, entertainment and social innovation’. In Zarifis A., Ktoridou D., Efthymiou L. & Cheng X. (ed.) Business digital transformation: Selected cases from industry leaders, London: Palgrave Macmillan, pp.1-16. https://doi.org/10.1007/978-3-031-33665-2_1
