Understanding Digital Adoption

Digital adoption refers to how businesses leverage technology to operate more efficiently and engage with customers in a modern context. For instance, during the COVID-19 pandemic, many companies that initially relied on physical interactions struggled, while digital-first institutions thrived. A notable example is a completely digital bank in Scandinavia that attracted a younger demographic, highlighting the advantages of going fully digital over traditional methods. Companies that fail to adopt these technologies miss out on optimizing their services and satisfying consumer needs.