Emerging technologies such as machine learning, the cloud, the internet of things (IoT), social web, mobility, robotics, and blockchain, among others, are powering a technological revolution in such a way that are transforming all human activities. These new technologies have generated creative ways of offering goods and services. Today's consumers demand in addition to quality, innovation, a real-time and ubiquitous service. In this context, what is the challenge that academy faces? What is the effect of these new technologies on the universities mission? What are people's expectations about academy in this new era? This chapter tries to get answers to these questions and explain how these emerging technologies are converting universities to lead society transformation to the digital age. Under this new paradigm, there are only two roads: innovate or perish. As might be expected universities are embracing these technologies for innovating themselves.