The challenges and opportunities for businesses in this digital age are enormous. Companies need to keep pace with changing technology and consumer behaviour. Business strategies now must be seamlessly interwoven with ever-expanding digital strategies that address not only the web but also mobile, social, local and whatever innovation there may be around the corner.
To help meet these challenges, Chief Digital Officers who oversees the full range of digital strategies and drive change across the organization must be brought in. A study by Strategy& (PWC) found that approximately 19% of top global companies now have a CDO, 60% of whom were hired since 2015. In 2020, however, looms as a strategic deadline for many, with technology rapidly overtaking business functions and a whole new set of challenges that companies must rise to. In that sense, transformation must be seen as a journey — not a destination.