Monday, March 20, 2023

Impact of CIOs on the Digital Transformation in the Industry

By Umme Sutarwala - March 02, 2022 3 Mins Read

Impact of CIOs on the Digital Transformation in the Industry-01

Enterprises are increasingly relying on digital data and technology to not only manage their day-to-day operations but also to expand and differentiate their businesses.

Today’s CIOs are just as likely to be leading a new line of business’s technology and data strategy as they are laying out an enterprise cloud migration roadmap. The modern CIO is no longer constrained to taking orders and implementing someone else’s playbook as technology advances from being a business enabler to being the firm’s lifeline.

Here are a few ways CIOs may make the most of the trust they have earned as strategic and transformational leaders.

Increasing the likelihood of business alignment

The modern CIO’s purpose is to ensure that technology-driven innovations are aligned with essential business goals, rather than merely adopting the latest breakthroughs in artificial intelligence (AI) or multi-cloud because they are trending.

Numerous IT budgets have gone down slightly or in a holding pattern since the pandemic (63% of businesses in the State of the CIO survey by IDG noted flat or whittled down budgets in 2020). Hence, CIOs are being asked to morph more with restricted resources, emphasizing the need to collaborate with business units to cherry-pick projects with the most significant potential to push growth and new revenue. 

Also Read: How CIOs can cultivate a culture of growth and innovation

CIOs must thoroughly immerse themselves in the business and stay current on fundamental strategy in order to do so effectively. They must also continue to communicate the value of technology-enabled innovation in business terms rather than technical terms.

By partnering with business divisions that have money to spend, IT becomes a partner who is responsible for helping the company expand, rather than just a service provider.

Provide technical leadership

One of the primary tasks of the CIOs, as expected, is to provide technological leadership. They are expected to have extensive industry knowledge as well as a wide range of technical experience. CIOs and their teams must select and test new developing technologies, as well as assess their influence on improving or creating goods, services, and customer experiences. In today’s era of innovation and experimentation, CISOs should be viewed as the organization’s experts on emerging and trending technologies (Cloud, 5G, Internet of Things (IoT), Machine Learning (ML), Blockchain, Artificial Intelligence (AI), and so on). Also, they should provide any technical assistance needed when experimenting with them. By contributing technological resources and professionals from their team, CIOs can help facilitate innovation or experimentation across the entire industry.

The CIO crystal ball 

The fear of disruption, along with digital transformation, has positioned today’s CIO as a key player in the executive team’s technology discussion. It will empower, facilitate, and stimulate the business while also spotting competitors who may catch the C-suite off guard.

Also Read: Is It Worth Hiring A Contract CIO?

The CIO today plays a more strategic rather than tactical role, leveraging every opportunity and steering the organization in the direction of the planned business objectives, taking decisions that drive positive growth. The C-suite looks at CIOs to identify the possibilities that technology may bring in order for an organization to stay relevant and develop while maintaining the core business healthy. The role of the CIO has evolved to incorporate company leadership, including revenue generation, client connections, and innovation. CIOs are responding to today’s digital disruption environment by redefining not only the IT department but also their role within the enterprise.

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Umme Sutarwala

Umme Sutarwala is a Global News Correspondent with OnDot Media. She is a media graduate with 2+ years of experience in content creation and management. Previously, she has worked with MNCs in the E-commerce and Finance domain

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