This document discusses digitization, digitalization, and digital transformation. It defines each term and explains that digitization is the process of converting analog information to digital format. Digitalization involves using digital technologies to improve processes and customer experience. Digital transformation fundamentally rethinks business models using digital technologies. The document lists benefits of digitalization such as reduced costs, improved customer satisfaction, and competitive advantage. It also notes areas being reshaped by digitization like artificial intelligence, innovation, and new business models.