Throughout 2020, the perspectives of both C-suite executives and corporate stakeholders have been forced to align. Covid-19 has put significant pressure on businesses in all segments and the disruptions caused by the virus – though unsurprising now – call for dynamic solutions to keep pace with the change in our work and personal lives.
To a certain extent: in modern business, every company is a technology company. As the speed and scale of technology increase the more it has significant influence on business strategy and the strategic goals of the organization in question.
It is an inalienable fact that innovative solutions are the key to securing a future for any organization and by Taking the Initiative on Transformation, Driving a New Kind of Technological Innovation, and Forging a Dynamic Leadership Style, CIOs can weather the storm of the coronavirus. This is, however, easier said than done and many IT executives have been feeling the squeeze in the pursuit of their objectives both before and since lockdown.
Driving Technological Innovation
CIOs see the introduction of innovative technical solutions as one of their core job responsibilities. As such, there are three technologies which currently sit at the top of their technological innovation wish lists.
Artificial Intelligence technologies are already being used by 77% of consumers and CIOs are beginning to take note. At the end of 2019, 72% of executives regarded AI as the business advantage of the future, citing its ability to automate time-consuming tasks and free up staff for high-value tasks as its core advantage. In fact, it is estimated that AI could increase productivity by 40% delivering as much as $2.9 trillion in business value by 2021. The key benefits of AI include:
- Saves time and money through automation and optimization of routine processes and tasks
- Removes problems emerging from human error
- Identifies and maximizes sales opportunities
- Increases productivity and operational efficiencies
Internet of Things
At the end of 2019, the number of connected IoT devices reached 26 billion, in 2020 it could rise to 30.73. IoT is of specific interest to the CIO as it can help bring edge computing to the fore, a tool which promises to reduce the shortage of response times whilst improving bandwidth across an organization. In short, IoT increases an organizations agility potential, helping to generate and communicate real-time data without the need for human involvement. The benefits include:
- New capabilities to predict and react
- Creates additional revenue streams
- Better time management
- Easy access and increased speed
As businesses move towards remote work structures, the need for effective cybersecurity systems has increased and, as such, CIOs should be looking to strengthen their systems against attacks. Data breaches have risen to become one of the most pressing business concerns globally as it is a problem that can quite quickly get out of hand if left unchecked. For example, in the first half of 2019, data breaches exposed 4.1 billion records globally. The risks to employees and their data rise even higher when we consider staff using a less secure IP address when working from home during lockdown. The benefits include:
- Protects networks and data from unauthorized access
- Reinforced information security and business continuity potential
- Speedier recovery times following breaches
- Shields from DDoS, Phishing and Ransomware attacks
To learn more, download the full report here or continue the debate at the CIO Insight Summit NA or the CIO Insight Summit EU, GDS Summits, where we bring together senior information technology executives who are actively seeking to share, learn, engage, and find the best technology solutions.
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