“Digital” is the new “cloud.” Once upon a time, these words meant something. Now they mean whatever a speaker wants them to mean — especially if, internally or externally, they’re trying to sell you something. Not surprising, this level of ambiguity has created a fertile environment for mythical thinking.

Behind all the blather and marketing mayhem, digital this and digital that can provide serious opportunities for companies whose leaders can see through the haziness.

And it creates serious challenges for CIOs — challenges that clear-eyed CIOs can prepare for and overcome, but that will bulldoze the unwary ones who see it as more of the same old same-old.

With this in mind, here are five common myths you’ve probably encountered when reading about digital transformation, along with the nonmythical issues and opportunities behind them.