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Effective Change Management Is Key to a Successful Digital Transformation

May 13, 2024
Inc
Summary
Despite the widespread adoption of AI-based digital transformation initiatives by global enterprises, a significant portion fail to deliver expected business value, achieving only 31% of their anticipated revenue outcomes and 25% of cost savings. This underperformance is exacerbated by misalignment within organizations and inefficient project management, where 40 percent of digital innovation project work is wasted and only 8 percent of agile team-planned projects are delivered. Effective change management is crucial for success, emphasizing the role of product managers who facilitate organizational alignment through strategic planning, cross-functional collaboration, and advocacy. Their skills in navigating change management and promoting internal buy-in are essential to overcoming challenges and maximizing the benefits of digital transformations.
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