Over 200 million tertiary education students around the world are affected by the COVID-19 pandemic, representing 89% of total enrollments and reflecting 188 country-wide closures. The Coronavirus pandemic is forcing universities to close campuses, move classes to a remote learning format and rethink how to build up systems and capabilities for at-scale online education. In the short term, many universities will face challenges to ensure the availability of systems, equipment, connectivity and talent needed to develop online learning experiences that can meet degree requirements leading to progression and graduation. The rapid response to these short-term challenges will trigger digital experimentation and potentially a great leap forward in the way higher education is delivered and scaled. In addition, the economic downturns resulting from the pandemic may stress university finances, which is expected to fundamentally alter business models in modern higher education for universities to remain competitive and survive.