Friday, November 27, 2020

CIOs Are Prioritizing Future Adaptive Strategies to Ensure Business Resilience

As the market uncertainty persists, IT leaders and CIOs must work towards building business resilience while supporting foundational trust and loyalty.

More business leaders are prioritizing digital infrastructure in order to underpin different aspects of modern enterprises. With the current economic turbulence, IT leaders must recognize how technology can enable their company’s progress and success while ensuring its resilience.

In its essence, both IT leaders and CIOs play pivotal roles towards the road to recovery – looking for the next normal. While technology is a vital aspect, they are continuously aiming to create a future adaptive organization. A recent study from IDC outlines some concrete actions that can keep the market leaders informed and resilient.

The CIOAIOPS – Nearly 65% of CIOs would digitally empower, enabling front-line workforce with AI, data, and security by the end of 2022. This can help in enhancing their adaptability, productivity, and decision-making amid rapid changes in the market.

Risks – By 2021, around 30% of CIOs will fail to protect trust – the significant base of customer confidence. This would happen due to limitations in finding adaptive ways to counter the rising cyberattacks, trade wars, unrest, and sudden market collapses.

Technical Debt – By 2023, managing the technical debt that mounted up amid the global pandemic will shadow about 70% of CIOs – causing financial stress, drag on IT agility, and rapid migrations into the cloud.

Read More: How Digital Tools could be the Key to Creating a Customer-First Culture for Retailers

The Role of CIO – Through 2023, there will be a move from business continuation to re-conceptualization. This global crisis will make almost 75% of CIOs integral to business decision making with digital infrastructure becoming the business OS.

Automation – In order to support distributed, safe work environments, around 50% of CIOs will speed up automation, augmentation, and robotization by 2024. This would be possible by pushing change management into a difficult imperative.

Customer Experience – A vast majority of CIOs (80%) will implement intelligent capabilities to sense, predict, and learn changing customer behaviors by 2025. Besides, they will enable exclusive customer experiences for loyalty and engagement.

Low/ NoCode – By 2025, about 60% of CIOs will adopt governance for low/no-code solutions to augment IT and business productivity. It will also help the LOB developers to meet unpredictable needs while fostering innovation at the edge.

Control Systems – Through 2025, most CIOs (65%) would implement an application, ecosystem, and infrastructure control systems established on flexibility, interoperability, portability, scalability, and timeliness.

Read More: What Business Leaders should do to ensure their Employees are Safe at Workplace

Compliance – Nearly 75% of CIOs will absorb new accountabilities by 2024. This is valid for the management of welfare, operational health, and employee location data – for health, safety, underwriting, and tax compliance purposes.

As Serge Findling, VP of Research for IEP at IDC mentioned in the company blog post – “In a time of turbulence and uncertainty, CIOs and senior IT leaders must discern how IT will enable the future growth and success of their enterprise while ensuring its resilience.”

Clearly, these predictions are expected to support businesses in recovering from the current, adverse events to build resilience – enabling future growth.

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