Rapid technology adaption, online business platforms and virtual operating models are the future of work. Today’s technology portfolio comprises of a dynamic mix of centralized, decentralized and federated services. Increasingly technology leaders of large organizations are not only embracing a diverse set of responsibilities, they are playing a key role in helping organizations adapt to the unknown and transform risks into opportunities.
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
While CIOs and CTOs recognize each other as critical, they are communicating and collaborating selectively. The study found that organizations in which the CTO and CIO both work together and define each other as strategically critical are realizing considerable financial gains at the organizational level.
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.