While a few firms—the digital giants—are winning big from digital technology, many large firms are investing heavily in digital, by recruiting IT specialists and spending on digital technology—including artificial intelligence, cloud computing, machine learning, and algorithmic decision making, yet getting disappointing returns.
As noted in a previous article, ‘How To Understand Your Digital Transformation” firms must realize is that digital transformation is only partly to do with technology. The chief obstacle is the fundamental change in the way the firm is managed—from industrial-era management to digital age management.
