Many firms that were once successful have been marginalized by competitors, and such an evolution may potentially affect the majority of large established companies in many sectors. The underlying reasons for this threat are the trends towards digitization, the Internet of Things, Industry 4.0 and artificial intelligence. Consequently, most firms simply do not have a choice. They need to respond by means of digital transformation. By now, most firms are aware of the challenges, but they struggle with developing appropriate strategies and managerial responses.
This practice-oriented book provides actionable recommendations, by answering the most critical and fundamental questions about successfully implementing digital transformation and artificial intelligence. As such, it illustrates how large and medium-sized firms may capture the opportunities, while avoiding the threats of digital transformation. The book considers not only potential efficiency gains, but also addresses the opportunities for innovation and growth in detail. So as to fully profit from digitization, firms need to develop digital intelligence. This is the central capability needed to gain digital momentum and facilitate a game change with disruptive business models.