By J. Yo-Jud Cheng, Cassandra Frangos and Boris Groysberg
The Covid-19 pandemic dramatically accelerated technology adoption across all industries. According to one survey, 77% of CEOs reported that the pandemic sped up their companies’ digital transformation plans, and as Microsoft CEO Satya Nadella noted in the early days of the crisis, “We’ve seen two years’ worth of digital transformation in two months.” A study conducted by Twilio found that Covid-19 accelerated companies’ digital communications strategies by an average of six years.
Historically, success rates for digital transformation efforts are dismally low. Many organizations rush to boost headcount and budget, hiring teams of talented engineers,