U.S. society has been “going digital” since the 1940s, but it wasn’t until 2010 that companies and governments started deploying strategies to take full advantage of these technologies—and create a host of new business opportunities. Now, with the digital economy growing by more than $1 trillion annually, it has become tremendously profitable for all involved.
Well, not exactly.
“Digital transformation is not easy,” says Frederic Lemieux, Ph.D., Faculty Director of the Master’s in Strategic Digital Transformation program at Georgetown University. “It’s been a bumpy road for most organizations.” Challenges include employing solutions fast enough to be competitive and ensuring that those solutions are scalable. There is also “a large talent gap in the field,” Lemieux says. “Organizations need leaders who can execute their digital transformation strategies and who have the applied knowledge of how to integrate digital technologies.”