UPDATE: In a groundbreaking discussion on the evolving role of Chief Information Officers (CIOs), leading technology executives reveal urgent strategies for demonstrating business value in today’s fast-paced digital landscape. As organizations grapple with rapid technological advancements, CIOs are now tasked with not only enabling business value but actively driving and accounting for it.
CIOs face unprecedented challenges, including the rise of shadow IT and the underutilization of existing software systems. In an exclusive panel hosted by InformationWeek, Michael Ringman, CTO of Ibex, emphasized the necessity of cultivating strong business relationships to mitigate budget pressures. He stated, “It’s like being married. You both come together and bring 50%.”
Ringman views shadow IT not as a liability, but as an indicator of business engagement. “Finding shadow IT is super cool because it shows you where you’re not engaging with the business,” he noted. By identifying these gaps, CIOs can better align IT with business needs, thereby enhancing project success rates through smaller, incremental investments.
Meanwhile, Scott Weller, CTO at EnFi, highlighted the accelerating importance of change management, especially as companies undergo AI transformations. “IT must measure efficiencies and revenues during projects, not just at the end,” Weller explained. He advocates for embedding technologists within business units to facilitate agile responses to market opportunities. This collaborative approach allows for rapid iterations and assessments, with Weller implementing three-day evaluation cycles to ensure ongoing alignment with business goals.
Dmytro Voloshyn, CTO of Preply, stressed that navigating external factors—such as vendor selection and regulatory changes—requires a strong reliance on data. Last year, Preply partnered with OpenAI to analyze productivity gains from new AI tools, estimating substantial cost savings from their deployment. “The easiest way to connect IT and business is to discuss costs and value without delving into technical jargon,” Voloshyn advised.
This urgent call to action highlights the need for CIOs to maintain operational effectiveness while remaining strategic. “It’s an art to stay agile and human-centered amidst automation,” Voloshyn concluded, emphasizing that human connections will increasingly define organizational success in the age of AI.
As businesses adapt to these rapid changes, experts agree that a unified vision and clear communication between IT and business leaders are paramount. The implications of these strategies are significant, potentially transforming how organizations approach technology investment and workforce development.
Stay tuned for more updates as CIOs continue to redefine their role in driving business value in an ever-evolving digital landscape. The urgency for adaptation has never been greater, and the success of many enterprises may hinge on these critical adjustments.
