UPDATE: CIOs are now facing unprecedented pressure to demonstrate business value in the rapidly changing digital landscape. As businesses undergo significant digital transformation, experts emphasize that the role of the Chief Information Officer (CIO) is evolving beyond just enabling IT solutions to actively driving measurable business outcomes.
In a recent discussion, IT leaders including Michael Ringman, CTO at Ibex, and Scott Weller, CTO of EnFi, shared urgent insights on how CIOs can effectively showcase their contributions to organizational success. They highlighted that external factors, such as shadow IT and underutilization of technology, pose challenges but also present opportunities for impactful engagement.
Ringman noted the importance of strong business relationships, likening the partnership between IT and business leaders to a marriage, where both parties contribute equally. “It’s like being married. You both come together and bring 50%,” Ringman stated. He further explained that identifying shadow IT is not a negative sign but an indicator of business needs being addressed, suggesting that CIOs should actively look for these signs to foster collaboration.
Weller added a critical perspective on the relentless need for change management. “IT is not only being asked to measure themselves at the end of a project, but also to measure the efficiencies or revenue they’re creating during the project,” he stressed. This evolving role requires CIOs to embed themselves within business units, ensuring that technology efforts align directly with business goals and market opportunities.
NEW REPORTS from industry leaders reveal that organizations successfully navigating AI transformation are those that prioritize collaboration between tech and business teams. Weller pointed out that companies with embedded AI expertise have more successful proof of concepts (POCs) and trials. “The companies having more successful AI POCs and trials generally don’t have AI councils. They’re embedding AI expertise in the business team,” he explained.
Meanwhile, Dmytro Voloshyn, CTO and co-founder of Preply, highlighted the role of data in navigating external chaos. Voloshyn’s collaboration with OpenAI to analyze productivity gains from AI tools showcases the tangible benefits of effective technology integration. “The easiest way to have a common denominator between IT and the business is to talk about what a project will cost and what value it will bring,” Voloshyn stated.
As CIOs strive to align their strategies with broader business objectives, they face the challenge of remaining agile amid rapid technological changes. Voloshyn emphasized the importance of maintaining human connections in an increasingly automated environment. “It’s a bit of an art to remain operationally effective and still strategic,” he noted, underscoring the necessity of a human-centered approach in technology deployment.
The urgency for CIOs to adapt and drive value has never been more critical. With businesses rapidly shifting toward digital solutions, CIOs must not only account for their contributions but also proactively shape the technological landscape to meet evolving market demands.
WHAT’S NEXT: As organizations continue to embrace digital transformation, observers are watching closely to see how CIOs will navigate these challenges. The integration of AI and data-driven approaches will be crucial in positioning IT leaders as strategic partners within their organizations.
Stay tuned for more updates on how these trends will shape the future of technology leadership in 2023 and beyond.
