This paper presents an overview of key literature that has informed the Knowledge Management (KM) Critical Capability (CC) of IT-CMF in the digital business context. The paper highlights the key insights that underpin the KM CC, and presents an up-to-date view of key thinking in this area. The goal of an effective KM capability is to get the right knowledge, to the right people, at the right time, and thereby improve the quality of decision-making within an organization. In light of the digital transformation of organizations, the scope of this activity has changed, even though the fundamentals remain. A digital organization needs to re-think and possibly re-invent its business model, so that it continually learns from interactions with customers, suppliers, and partners in the ecosystem in order to remain competitive. These shifts in the organization and the ecosystem give rise to new challenges and questions associated with the growth of relevant data and associated changes in terms of how data, information, and knowledge are stored, disseminated, analyzed, communicated, and used.