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As barriers to entry change and profits consolidate to fewer companies, CEOs are under increased pressure to pioneer new products, services and business models. According to Gartner’s Digital Enterprise 2020 survey, 68 percent of CEOs plan to increase their investments in digital capabilities, while 67 percent agree that their organization must become significantly more digitized to maintain their competitiveness. Digitization—the process of applying digital technology to conduct an activity that had previously been done through analog means—has become a corporate imperative.

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