Digital Transformation has been one of the loudest calls to action for CIOs this year. When successfully achieved, digital innovation has the ability to achieve both revenue growth and cost reduction.
Businesses are facing unprecedented complexity, as more and more technology enters the market. While the evolution of technology continues to shake our foundations and change our view of the future of IT, the role of the CIO is more important than ever.
Who Is The Innovative Technology Leader?
Transformation is a constant across all lines of business. The CIO is tasked with taking the lead in a way that requires a new business mindset.
Increase efficiency, reduce costs, and stay abreast of new technologies and capabilities. These are normal demands for CIOs today. But now, talking digital transformation in light of the push-pull paradox of technology and cost is raising a lot of questions.
The Innovative Technology Leader of tomorrow will be kept up at night by questions like:
- How to create a culture of innovation to drive growth and performance?
- How design thinking adds value to leading edge information technology?
- What strategies and tactics are needed to move your organization forward?
With rising expectations for the capabilities that IT can provide, and higher demand for efficiencies, CIOs must think strategically about creating structured approaches to identifying, measuring, reducing, and understanding technology needs and costs.
Roughly one in three IT leaders anticipates an increase of more than 20 percent of cloud security spending next year. The biggest cloud security challenges of 2017 will be controlling downloads, evaluating cloud provider security, external sharing and shadow IT. Cloud in particular as cloud infrastructure and mobile devices are the next biggest challenges for IT security. Another risk factor for organizations is the understanding of security issues among board members. The growing acceptance of the mobile cloud has led to several notable trends in IT.
The CIO of tomorrow will be a change agent, “a role that can feel exciting but lonely. This role requires a lot of stamina and persistence, and especially high EQ and communication skills. More attention needs to be paid to the importance of communication.” – Lisa Shalett, Former Partner and Head of Brand Marketing & Digital Strategy at Goldman Sachs
Fixing The Disconnect Between The Innovative Technology Leader And Their Board
Consumerization of IT has meant that staff are more demanding and will work around the technology department if their IT needs are not satisfied. Following numerous failed large IT projects confidence in Boards is waning. With many Boards ill-equipped to understand both the potential and risks of ICT, some CIOs feel they would be better suited to govern high-risk technology initiatives. The self-governance of IT management could lead to an exercise in self-interest, however, without the Board to hold them to account and look at the bigger picture. Some therefore still feel the need for Boards to maintain governance of all large projects, with technology no exception.