45% of CTOs indicate frequent interaction with their CIO counterparts, while just 41% of CIOs highlight frequent interaction with CTO peers.
The pressure on technology leaders has never been more intense. Technology was already at the center of modern society, but in 2020, the pandemic thrust digital capabilities into the forefront. COVID-19 accelerated the adoption of new tools and practices in ways previously unanticipated but now accepted as the norm. For many individuals, organizations, and communities, technology was more than a solution. It was the lifeline by which they sustained themselves.
A new IBM Institute for Business Value (IBV) CIO Study revealed that since 2019 enterprises in India have taken massive leaps in the adoption of technology platforms and services. CIOs in India reported maturity in hybrid cloud operations increased 850%, followed by process automation and intelligent workflows at 536%. While 69%of CIOs in India reported that their teams played a vital role in driving their organizations’ pandemic response; organizational complexity and regulatory constraints are identified as the key challenges.
“Technology adoption is rapidly becoming an inextricable part of every organization and business function, said Viswanath Ramaswamy Vice President, Technology, IBM Technology Sales, IBM India / South Asia.
“The role of technology leaders has expanded in breadth as well as strategic influence as they continue to collaborate with C-Suite stakeholders to drive business growth. Adopting an open hybrid cloud approach and AI-fueled automation will help technology leaders drive their enterprise agility, innovation and growth imperatives,” he added.
Organizations continue accelerating their digital transformation with focus on achieving business objectives over the next three years.
The study highlighted that in addition to extending enterprise cloud estates, CIOs in India identified Automation, 5G, AI, IoT and Cybersecurity as their top technology investments in the next three years.
In addition, CIOs in India expect technology to have the greatest impact on customer experience (43%) followed by process automation (41%) and sustainability initiatives (38%).
CIO and CTO collaboration to drive greater business value
Technology adoption in and of itself doesn’t deliver optimal value. But when deployed strategically, effectively, and often in tandem, technologies such as hybrid cloud, AI, and automation can enable modern enterprises to transform massive change into substantial benefits. How to best lead the technology function and drive success? The executives consistently returned to a specific theme—collaboration.
Curiously, despite this stated emphasis on teamwork, our research reveals that CIOs and CTOs are often working independently, and sometimes at cross-purposes. Only 45% of CTOs indicate frequent interaction with their CIO counterparts. And it works both ways: just 41% of CIOs highlight frequent interaction with CTO peers.
Globally, organizations with high technology measures combined with a strong CTO-CIO collaboration reported 9% revenue growth and 32% improvement in operating margin over organizations where technology leaders are not as closely aligned.
Rising to the challenge of an ongoing hybrid workplace
80% of CIOs in India said that they have implemented remote work strategies, but only 24% expect remote workplace changes from the COVID-19 pandemic to become permanent. In contrast, a concurrent IBV study suggests nearly two in three (65%) employees surveyed globally report they’d prefer to work exclusively remotely or in a hybrid model, if given the choice.
These findings may indicate a potential blind spot for CIOs if employee preferences for flexible schedules and work locations are not going away. In this period of “The Great Resignation,” the CIO’s ability to adopt effective technology applications and productive collaboration strategies for the workforce could make a significant difference in the war for talent.
Today, the technology function is even more vital to ongoing business success and business relevance. We find ourselves in an escalating cycle: as technology becomes distributed throughout the enterprise, the organization’s identity centers more on technology. The Virtual Enterprise of tomorrow needs a mature and collaborative technology function to thrive.
Whatever form the future takes, CIOs and CTOs will play a vital role in how technology shapes it. Braver and bolder, but also more vulnerable and uncertain, more artificially intelligent yet also more humanistic, this world will unavoidably reflect not only our aspirations, needs, and talents but also our biases, oversights, and neglect.
Add new comment