In a context of economic uncertainty and emerging opportunities in the field of Artificial Intelligence (AI), Chief Technology Officers (CIOs) of major companies are redefining their strategic priorities for the upcoming year. A recent report based on an exhaustive study with 300 executives reveals nine key areas, grouped into two fundamental strategic dimensions: Defense and Transformation.
Protecting Investments and Avoiding Risks
Security, resilience, and cyber defense top the list of priorities for 67% of CIOs. The initial investment is focused on safeguarding sensitive data in an increasingly exposed business environment.
Process Automation
58% of CIOs plan to invest in process automation to improve efficiency and streamline operations, freeing up resources for more meaningful and strategic tasks within the organization.
Technological Efficiency: Cost Reduction and Flexibility
In times of economic uncertainty, companies are looking to reduce fixed costs and adopt technological strategies with future investments, focusing on efficiency through cloud initiatives, AI, and open source.
The CIO’s Alliance with other CxOs
The role of the CIO is evolving towards a shared responsibility in deploying digital and AI capabilities, collaborating closely with other leaders on the Executive Committee to achieve and improve expected corporate results.
AI Readiness: Comprehensive Preparation for AI
While only 16% of companies currently use Generative AI, 51% are in the exploration phase. Comprehensive AI readiness involves appropriate technologies, cultural change, training, and strong data governance.
Productivity as a Team Exercise
The goal is to generate more value with the same resources. Three out of four CIOs are looking to improve productivity, not only quantitatively but also focusing on aspects related to the quality of work and employees’ sense of belonging.
Accelerating Budget Cycles
Annual budgets are no longer effective in the current business environment. Quarterly budget reviews (QBRs) are key to aligning objectives with corporate goals and clearly measuring the value delivered, multiplying the return on investment in strategic initiatives by four.
Increasing Resilience
In the face of current risks and uncertainty, resilience becomes the best business response. Detecting business weaknesses and addressing them in a structured manner will be key to the sustainability of companies.
Sustainable Technology
Sustainability is integrated into all areas of the company, with operations and technology being key allies. Two out of three CIOs are integrating impact metrics into their technology partner hiring processes, and 25% of global IT Directors will have a variable bonus tied to ESG goal achievement by 2025.
Companies must embrace these priorities to thrive in a changing and challenging environment, where collaboration and AI readiness are essential. “It’s time to make the change,” assure the sector’s top executives.
Download report by Eraneos.