In today’s transformative enterprise environment, emerging technologies play a critical role in the innovative initiatives of the organizations, customer experience, and its overall success.
Emerging technologies such as artificial intelligence (AI) and machine learning (ML) have been a driving force behind digital transformation. These technologies can enable organizations to scale on-demand, minimize investments related to infrastructure, improve resiliency and deploy solutions securely and rapidly. Additionally, incorporating these technologies can help organizations to build transformational capabilities within the organization to drive additional revenue while setting it apart from the competition.
When the tech-expertise of the CIO is combined the expertise with the business insights of the business leaders, it can create a synergistic decision-making process that differentiates organizations in today’s competitive marketplace. However, to achieve these, CIOs should learn to think differently. They should experiment with applying technology solutions to address the business needs. They should ensure that the organization culture supports innovation and governance features that can strengthen the partnership between CIO and the business executives.
While implementing emerging technologies has its own risks, CIOs should weigh how they can identify and mitigate them. They should concentrate their efforts towards value creation and risk mitigation in equal measure.
Here are a few ways CIOs can capitalize on emerging technologies:
Automating wherever they can
CIOs should assess their existing processes to identify the current building blocks. They should identify repeatable processes that they can perform that will be ideal candidates for hyper-automation. Additionally, mundane tasks that do not result in skill acquisition and advancement and are not rewarding to employees should also be automated. Thus, by leveraging data to implement and improve data processes, organizations will be able to automate mundane, time-consuming tasks while simultaneously increasing productivity and ROI.
Enriching to empower
It is crucial that they understand the data available to them. They should filter and organize it in various formats that can be utilized for further analytics. Before making an informed decision, CIOs and business executives should take advantage of this enriched data.
The utilization of Internet of Things (IoT) devices is increasing at an exponential rate. Each machine has the capability to generate unlimited data on demographics, profiles, and purchasing decisions. To capitalize on this huge volume of data, organizations can harness and enrich it to make smarter decisions can gain a competitive advantage by improving operations and delivering a personalized customer experience. Those who fail will continue to face pressure from competition to continue their operations.
Visualizing for gaining value
Visualization technology such as AR and VR makes data more meaningful to the organization. Organizations can advance their data visualization by applying AR to make it visually available in real-time. Additionally, the real-time feedback from AR can help the staff to make difficult, instant decisions depending on the data they possess.
Organizations should conduct a digital maturity assessment and find areas where emerging technology can yield the most significant value. When integrating with extra measures, emerging technologies can be a powerful tool for enterprises to address business problems, scale on-demand, improve resiliency and deploy technology solutions at a rapid pace.