Companies are increasingly launching digital initiatives to expand or build digital capabilities to deliver business efficiency or top-line revenue growth.
Digital technology allows people to solve their traditional problems in a completely different way and people often prefer this digital solution to the old solution.
Going paperless, online video conferencing, digital way of external and internal communication…this is just a drop in an ocean of examples how the world as we know it is changing.
According to the McKinsey Global Institute’s Industry Digitization Index, Europe is currently operating at 12% of its digital potential, while the USA is operating at 18%.
Take the example of the retail sector where new market entrants used digital to reengineer the customer experience. Traditional retail establishments have had to respond - the successful ones used digital to transform their businesses, improving every aspect of the customer experience, the others are slowly losing the battle.
Is it good or bad in your opinion?