September 2024 | SPECIAL REPORT: DIGITAL TRANSFORMATION Financier Worldwide Magazine September 2024 Issue Digital transformation projects are prevalent across the globe. According to Statista, worldwide spending on digital transformation technologies and services is projected to reach $2.49 trillion in 2024 and $3.9 trillion by 2027. Most companies are replacing legacy systems and have embraced cloud technologies. The use of generative artificial intelligence (GenAI) solutions, while not as widespread presently, is rising rapidly. We are seeing numerous cutting-edge transactions involving digital transformation. These projects bring enormous benefits to companies, including improved staff and customer satisfaction, increased operational efficiency, the ability to aggregate and analyse data, and the development of new products and services. At the same time, we have seen an assortment of legal and regulatory issues that frequently arise in these projects. These may range from minor issues that can be settled over a phone call to high-priority matters that can prevent a project from getting off the ground or delivery being disrupted or delayed. In this article, we consider some of the pitfalls that lie in wait for the unwary. Data Digital transformation projects will involve the use of data in some form. Vendors that are engaged to […]
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