To what extent can you say:  “I am confident that my team is skilled & trained enough to select, implement and utilize newer, better solutions as the business evolves”?

Good question... I think, you will never know in the reality.
As in the software development lifecycle, you have to draw a line where to start from and freeze all the variable around otherwise you will get stuck always looking at the latest techs (and your team involved for a persistent leaning process).

Knowledge workers can do anything given enough time and the right training. It's incumbent on leadership to give them what they need to be successful to adapt to industry changes. The only constant in life is change.

Isn't it a huge concern when most of us do think that we might lack of skills to implement and utilize newer solutions?

Personnaly, I see that my organization struggles to integrate new solutions with older ones.  Part of technical reasons and part of having personnalized too much the older solutions which creates gaps and incompatibility.   

This is like an infinite loop!   To resolve incompatibility you could do various things such as... increasing personnalization!