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Computers today can fit in your pocket or on your wrist, and the software applications that run on them increasingly enable the automation of tasks traditionally done by humans (such as managing expenses), the virtualization of hardware, and ever more targeted product and service customization.

What’s more, these apps can reach people everywhere: Sensors embedded in devices and interfaces permit the real-time feed of data, allowing even more informed decision making and machine-driven recommendations.

In short, digital technology is no longer in the cordoned-off domain of IT; it is being applied to almost every part of a company’s value chain.

Read more in Harvard Business Review