What are the Challenges in Adopting Digital Innovation?
While digital innovation offers numerous benefits, it also comes with challenges:
High Initial Costs: Implementing new technologies can be expensive, and the ROI may not be immediate. Data Privacy and Security: With increased digitalization comes the risk of data breaches, requiring robust cybersecurity measures. Resistance to Change: Employees and stakeholders may resist new technologies, necessitating effective change management strategies. Integration Issues: New technologies must seamlessly integrate with existing systems, which can be technically challenging.