Unveiling the Evolution of Enterprise Digital Innovation Strategies: Insights From U.S.-Listed Companies’ Annual Reports

Abstract

This article introduces a new metric for evaluating digital innovation in enterprise transformation using textual analysis of annual reports from U.S.-listed companies. Through network analysis and topic modeling, we identified 12 topics categorized into three main areas: digital technology innovation, customer-oriented digital strategy, and digital transformation in traditional business operations. Our research indicates that digital innovation strategies are critical for maintaining competitiveness and have shifted to a more innovation management-oriented approach. We also found differences in digital innovation strategies between companies and industries. Our study contributes to the theoretical significance of enterprise management and sustainable development.