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1. • • Digital transformation in business involves using new technologies like artificial intelligence and cloud computing to drive growth, streamline operations and increase competitive edge. Its impact can be seen across every industry, driven by the growth in online business and the ongoing digitization of business and society.
     www.forbes.com/sites/bernardmarr/2023/10/12/the-impact-of-digital-transformation-on-business-models-opportunities-and-challenges/

     The Impact Of Digital Transformation On Business Models ...

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   How does digital transformation affect business models?

   • You'll be asked to sign into your Forbes account. The Impact Of Digital Transformation On Business Models: Opportunities And Challenges Digital transformation in business involves using new technologies like artificial intelligence and cloud computing to drive growth, streamline operations and increase competitive edge.

   The Impact Of Digital Transformation On Business Models ... - Forbes

   www.forbes.com/sites/bernardmarr/2023/10/12/the-impact-of-digital-transformation-on-business-models-opportunities-and-challenges/

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   Are Tech transformations affecting your business?

   • Some companies are starting to see real impact from their tech transformations. In a recent McKinsey study, some 50 percent of surveyed companies reported moderate to significant impact on realizing new revenue streams, almost 70 percent reported impact on increasing existing revenue streams, and 76 percent reported impact on reducing costs. 1

   A technology-transformation approach that works | McKinsey

   www.mckinsey.com/capabilities/mckinsey-digital/our-insights/how-to-become-tech-forward-a-technology-transformation-approach-that-works

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   What is digital transformation in business?

   • Digital transformation in business involves using new technologies like artificial intelligence and cloud computing to drive growth, streamline operations and increase competitive edge. Its impact can be seen across every industry, driven by the growth in online business and the ongoing digitization of business and society.

   The Impact Of Digital Transformation On Business Models ... - Forbes

   www.forbes.com/sites/bernardmarr/2023/10/12/the-impact-of-digital-transformation-on-business-models-opportunities-and-challenges/

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   How important is a tech transformation?

   • In a recent McKinsey study, some 50 percent of surveyed companies reported moderate to significant impact on realizing new revenue streams, almost 70 percent reported impact on increasing existing revenue streams, and 76 percent reported impact on reducing costs. 1 Tech transformations, nonetheless, remain notoriously difficult and complex.

   A technology-transformation approach that works | McKinsey

   www.mckinsey.com/capabilities/mckinsey-digital/our-insights/how-to-become-tech-forward-a-technology-transformation-approach-that-works

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   How can digital technology transform a business model?

   • According to Li (2020), digital technologies facilitate the development of a wider range of new business models and not only transform them, but also serve as a new channel for information or interaction with customers and other stakeholders.

   Digital Transformation: An Overview of the Current State of the Art of

   journals.sagepub.com/doi/full/10.1177/21582440211047576

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   Can a company be successful in digital transformation?

   • Established companies of all kinds can be successful on their digital transformation journeys. Here are three examples: The copper-mining giant Freeport-McMoRan unlocked next-level performance by building and deploying an AI model at an ore-concentrating mill in Bagdad, Arizona.

   What is digital transformation? | McKinsey - McKinsey & Company

   www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-digital-transformation

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3. www.ibm.com › drive-business-transformationHow does technology drive business transformation? | IBM

   www.ibm.com › drive-business-transformation

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   Jul 20, 2022 · Discover how technology drives business transformation in financial services with digital business models, advanced tech, analytics, and data insights.

4. www.forbes.com › sites › bernardmarrThe Impact Of Digital Transformation On Business Models ...

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   Oct 12, 2023 · Digital transformation in business involves using new technologies like artificial intelligence and cloud computing to drive growth, streamline operations and increase competitive edge. Its...

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     Digital Transformation | What is Digital Transformation | Digital Transformation 2021 | Simplilearn

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     The future of business is digital and sustainable. Here's why

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     The future of jobs: 2 experts explain how technology is transforming ‘almost every task’

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6. www.mckinsey.com › capabilities › mckinsey-digitalSeven key lessons on technology and business | McKinsey

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   Mar 11, 2021 · Lesson #7: Bridging the business-technology chasm is critical to outperformance. Beyond their focus on talent, deployment of new technologies, and a broad transformation agenda, the top performers also follow several practices that foster a stronger partnership between technology and the business (Exhibit 5).

7. www.mckinsey.com › what-is-digital-transformationWhat is digital transformation? | McKinsey - McKinsey & Company

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   • What Capabilities Are Needed to Move The Needle on Digital Transformation?
   • What Is A Domain and Why Does It Matter?
   • What Role Can Ai Play in A Digital Transformation?
   • What Are The Key Leadership Roles in A Digital Transformation?
   • How Do You Know If A Digital Transformation Is working?
   • What Companies Are Doing This well?

   Successful digital transformation requires a variety of coordinated actions. Rewiredlays out six capabilities critical for successful digital transformation: 1. The ability to craft a clear strategy focused on business value.Companies should focus their transformations on specific domains (customer journeys, processes, or functions) that generate s...

   See full list on mckinsey.com

   Digital transformations have a much improved probability for success when teams focus on changing entire domains (for example, a customer journey, process, or functional area) rather than only on use cases (a single step within the domain, such as answering a customer-service call). A focus on domains is conducive to effective change because it enc...

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   AI, and particularly generative AI, is upending how companies operate and build value, presenting huge opportunities including content generation, new discoveries (particularly in fields such as pharmaceuticals and chemicals), and coding. But it can be easy to get distracted by shiny new toys. The lessons of past technology innovations still apply:...

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   A successful digital transformation touches a broad range of an organization’s functions so they can work together in new ways. This requires large-scale and coordinated investments. The only person who can make that level of sustained change happen is the CEO. One of the CEO’s crucial jobsis to ensure alignment, commitment, and accountability amon...

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   It can be surprisingly difficult to know how a digital transformation is going. Without properly tracking and measuring outcomes, leaders will struggle to manage performance and ensure that the changes happening are creating value. Knowing what to measure is half the battle. In digital transformations, key performance indicators (KPIs) usually fall...

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   To be digital, every company needs to rewire how it works. Once upon a time, Amazon was just another start-up: it had to invest in its technology, data, performance management, and talent practices over years to become an industry leader. The good news is that successful digital transformations aren’t just the purview of the tech titans. Establishe...

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8. hbr.org › 2023 › 07The Value of Digital Transformation - Harvard Business Review

   hbr.org › 2023 › 07

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   Jul 31, 2023 · Summary. While 89% of large companies globally have a digital and AI transformation underway, they have only captured 31% of the expected revenue lift and 25% of expected cost savings from the...

9. journals.sagepub.com › doi › fullDigital Transformation: An Overview of the Current State of ...

   journals.sagepub.com › doi › full

   Sep 23, 2021 · This paper qualitatively classifies the literature on digital business transformation into three different clusters based on technological, business, and societal impacts.

10. www.mckinsey.com › capabilities › mckinsey-digitalA technology-transformation approach that works | McKinsey

    www.mckinsey.com › capabilities › mckinsey-digital

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    Nov 2, 2020 · Whether it’s been the shift to online working, the spike in online demand, or the increase in cyber assaults, technology has emerged as a critical business capability. That reality has injected a renewed importance and new urgency into modernizing the technology function.