"Digital Transformation and Innovation Management: A Synthesis of Existing Research and an Agenda for Future Studies" is a paper published in the 'Journal of Product Innovation Management' through Wiley Online Library Database Model. The paper talks about the transformation to the digital world, especially with the COVID situation. The paper mentioned that '40% of all technology spending at a global level has been invested in digital transformation, with enterprises that spent over $2 trillion in 2019.' Out of 52% of companies plan to cut or defer investments because of COVID-19, just 9% will make those cuts in digital transformation projects. Also, it was mentioned that by 2025, the value of digitalization will be about $100 trillion. About 90% of companies will move the artificial intelligence (AI) technology. Also, the paper discusses and analyze digital transformation covering three level of analysis Macro, Meso, and Micro.
Most important, the paper performed the 'word co-occurrence analysis.' The analysis identifies nine clusters, which mainly deal with:
Digital Transformation: Has the largest number of inflowing and outflowing connections. It is usually adopted in relationship with a wide range of recently introduced enabling technologies such as AI, industrial internet of things, big data, and smart products.
Digital Innovation: The role of information technology and its business value, especially relational and analytical information processing capabilities to improve customer involvement in the innovation process, and enable open platforms and architectures.
Digital Entrepreneurship: The multiple ways through which entrepreneurs profit from their ventures on social media, the digital strategy they implement, the different networks and partners they engage with in order to access key resources, the entrepreneurial
opportunities offered by new technological architectures, and the opportunities provided to employees to innovate.
Digital Platforms: in terms of appropriability mechanisms such as intellectual property and standards, licensing, as well as the mechanisms to maximize growth through network effects, network externalities, R&D spill-overs of two-sided markets.
Digital Technologies: instrumental role in enabling industrial cocreation practices in business- to-business contexts, stimulating knowledge exchanges, unveiling the mechanisms to trigger growth through rapid scaling, and shedding light on the performance outcomes related to ICT implementation.
Algorithms and other Enabling Technologies: provide a comprehensive assessment of issues related to the use of AI, digital control systems, and IoT, connecting them with innovations related to platform change and evolution, algorithmic bias, ethics, and education.
Innovation Management: Impact of technological change on employment, job creation, and disruptive innovation, adaptations of leadership styles, cognitive framings, and employee beliefs in accepting innovative technologies.
Business Model Innovation: The impact of the disruptive nature of digital transformation, with consequences on dynamic capabilities, integrative capabilities, complementary assets micro-foundations, and continuous strategic renewal; and understanding how to navigate the transition between traditional and new business models.
Open Innovation: crowdfunding, alternative entrepreneurial financing tools, crowdsourcing and innovation contests, open-source innovation communities and platforms, partner selection in open ecosystems, mechanisms to ease consumers innovations and facilitate innovation diffusion.
At the end, the authors suggested further invitations and provided some outlines for the scholars who are interested in the topic.
Appio, F. P., Frattini, F., Petruzzelli, A. M., & Neirotti, P. (2021). Digital Transformation and Innovation Management: A Synthesis of Existing Research and an Agenda for Future Studies. Journal of Product Innovation Management, 38(1), 4–20. Digital Transformation and Innovation Management: A Synthesis of Existing Research and an Agenda for Future Studies