Digital transformation (DT) has received growing attention as it emerged as a pivotal force in reshaping modern enterprises and societies over the past two decades. Despite the global emphasis on researching DT, its precise conceptualization and definitive boundaries remain unclear. This paper offers a comprehensive review of the existing literature on DT, providing an in-depth analysis of its conceptualization, key influencing factors, measurement approaches, and economic consequences. Additionally, this study identifies critical research gaps, providing insights to guide organizations in navigating their digital transformation process while informing future research directions. By addressing these gaps, this paper contributes to the development of more effective DT strategies and highlights the need to mitigate its potential negative impacts on society and the environment.
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