Document ID: CGR-DIG20 | Last Updated: Jun. 23, 2020
Digitization focuses on the capturing and extraction of value from non-digital data by converting it to a usable digital state. Digitalization expands upon the idea of digitization by addressing human-bound processes and processes that have previously been dependent on non-digital information. Digitization and Digitalization are seen as necessary steps to achieve longer-lasting Digital Transformation that organizations seek for greatest efficiency and effectiveness. In this report, we cover the current state of the art for Digitization and Digitalization, explore various industry applications for digitization and digitalization solutions, identify key vendors in the space as well as business models that support digitization, determine how digitization and digitalization fit into the AI landscape, and identify areas for continued research.