Explore the rapidly evolving landscape of digital innovation in this insightful conference talk by Jan Damsgaard, Professor at the Copenhagen Business School. Delve into the critical differences between digitalization and IT, and uncover the three megatrends driving digital transformation. Examine the shift from traditional retail to marketplace models, the evolution from products to services, and the rise of platform-based open ecosystems. Investigate the transition from ownership to access-based models and the dangers of the "ostrich effect" in business. Gain valuable insights into how businesses can embrace digital opportunities to forge the future or risk becoming obsolete. Learn about the potential impacts of IoT, AI, and blockchain technologies on digital transformation, while considering the challenges faced by policymakers and institutions in keeping pace with rapid technological advancements.