Why Digital Transformation is the Mark of Industry Leaders
By Jim Cathey, Chief Commercial Officer, Qualcomm Technologies, Inc.
Digital transformation is one of the most significant trends to have emerged in recent years and a major topic of discussion at this year's World Economic Forum Annual Meeting. Expedited by the pandemic, companies across industries and regions sped up their adoption of digital and intelligently connected solutions and tools to compete in a rapidly changing business environment.
While the current macroeconomic climate may have some companies rethinking their expenditures, including on digital technologies, future industry leaders will make intelligent investments to remain competitive and position themselves for growth when economic conditions improve.
Digital transformation has become a strategic imperative for sustainable growth and innovation. It can stimulate new business models, services, and revenue streams that can help companies boost bottom-line results. It can also unlock greater operational efficiencies and productivity by streamlining complex processes, automating manual tasks, and removing redundancies.