The role of the CIO is changing as technology’s place within any organization is also rapidly advancing. Technology was a support, an enabler of business operations. But now it is the very essence driving businesses. Technology is being uses in three major ways to gain advantage over competitors. They are- process and technology, business and customer, and organization and talent management. A report brought out by PwC on Digital IQ found out that eighty-six percent of CEOs feel that their businesses require greater alignment with digital technologies. The CIO is now someone who drives the company’s strategy and takes part in its drafting. Another study also found out that about seventy percent of CIOs are utilizing tech solutions for cost reduction. A third of business leaders are worried that slow processes inhibit the execution of the digital strategy drafted. Automation can be a solution where humans can be paired with bots or machine learning tools. Next generation architecture such as XaaS or Cloud needs to be used to further improve processes. An increased investment will be needed in business analytics, user experience and data handling.

Source:https://www.strategyand.pwc.com/technology-strategy/blog/smarter-stronger-faster?preview=1&psid=0&ph=861f

Uploaded Date: 23 February 2018