  Companies today are racing to leverage the latest digital technologies, such
as artificial intelligence, blockchain, and cloud computing. However, many
companies report that their strategies did not achieve the anticipated business
results. This study is the first to apply state of the art NLP models on
unstructured data to understand the different clusters of digital strategy
patterns that companies are Adopting. We achieve this by analyzing earnings
calls from Fortune Global 500 companies between 2015 and 2019. We use
Transformer based architecture for text classification which show a better
understanding of the conversation context. We then investigate digital strategy
patterns by applying clustering analysis. Our findings suggest that Fortune 500
companies use four distinct strategies which are product led, customer
experience led, service led, and efficiency led. This work provides an
empirical baseline for companies and researchers to enhance our understanding
of the field.
