From enhancing DevOps to tightening security and more, here are some examples of how ChatGPT is poised to transform the role of CIO
ChatGPT may be in its fledgling stage of development, but we are already seeing promise in its capacity to transform how we perform tasks, maintain various roles, and even operate in different industries.
In September 2022, Forrester reported that Artificial Intelligence (AI) software expenditure is projected to reach an annual growth rate of 18 percent, doubling by 2025 and growing 50 percent faster than the global software market. Given the popularity of ChatGPT, it is not farfetched to imagine that a large part of that market will be chatbot technology, which combines AI and language to serve users with a human-like quality to its responses.
So, what does this mean for a CIO?
Supporting cyber security and promoting it has now become a plain matter of good leadership
We are not hearing enough about the short tenure of the CISO.
Regular studies place it in the region of 2 years, and anecdotal evidence from my own network, based on the analysis of the profile of 15 current CISOs, points towards 30 months.
In my opinion, it is often the symptom of serious underlying issues and the cornerstone of long-term stagnation for many cyber security practices in large firms.
Automation, serviceability, modernization, and enterprise resiliency are top of mind
CIOs are often teetering between striving for innovation and maintaining operational excellence. With a potential recession on the horizon and lingering complications from the pandemic, what is the best way to strike a balance between the two? 'CIOs are empowering everyone to challenge the status quo daily and providing the digital acumen and psychological safety required for teams to thrive in a culture of continuous improvement, experimentation, and rapid innovation,' according to Red Hat CIO Jim Palermo in our latest report in partnership with HBR Analytic Services.
With the cyber insurance space continuing to evolve, and demand growing amidst rising cyber attacks, we present our comprehensive guide to cyber insurance.
The concept of insurance dates back to the ancient world when merchants wanted to deal with the risks of shipping cargo over treacherous waters. Since that time, whenever a new risk has emerged a new insurance market has typically followed. Today, practically anything can be insured, be it a car, a home, or a footballer's legs. Due to the propensity of cyber attacks - costing the global economy billions annually - cyber insurance has emerged as the latest solution in this succession.
If you think cybersecurity is recession-proof, think again. The time is now to trim waste and streamline risk management.
CISO Nicole Darden Ford has become accustomed to doing more with less since the COVID-19 pandemic suddenly upended her company's workforce. 'I got off a plane from India and saw all these people with masks at the airport in Washington, DC, and I wondered what was going on. I went straight to the office where my CEO and CIO explained our new reality: We were going into quarantine and we had less than a week to come up with a way for people to work remotely.'
Establishing strategic clarity - a shared vision among all elements of your organization - can help unlock its fullest potential. Here's how to get started
Business leaders who have a complete understanding of where their people and activities are situated in their overall strategy have 'strategic clarity.' These leaders are invaluable - they can fill their team's day with meaningful work, burst through information silos, synergize teams across departments, and articulate every activity's role in achieving their goals.
By connecting every department, goal, person, and task to a shared vision, businesses can unlock their full potential. While establishing strategic clarity might sound complicated, with the right framework, it's quite intuitive. Here's how you can accomplish this using the strategic clarity map.
Bobby Cain recently took over as Schneider Electric's CIO and immediately faced many of the same issues other tech firms routinely address. To address them, he says, the role of a CIO must change.
Schneider Electric, a Fortune Global 500 company that specializes in digital automation and energy management, has the same challenges other enterprises face today - namely, finding new IT talent or reskilling employees to build talent pools from within.
The company recruits new IT talent from multiple backgrounds, and not specifically computer science graduates. Across the tech industry, more companies are dropping college degree requirements in favor of talent with soft skills, such as the ability to learn, lead, and work as part of a team.
The good news is that most CIOs expect 2023 IT budgets to increase. The bad news is most CIOs report that they have to stretch budgets further than ever.
Global software and cloud services provider SoftwareOne released its "CIO Pulse: 2023 budgets & priorities" report on March 9, revealing that organizations will feel significant pressure to do more with less this year.
The report is based on a survey of 600 IT leaders in the U.S. and U.K. Among the top findings in the report is that although 93% of CIOs anticipate an increase in IT budgets in 2023, 83% feel pressured to maximize their budgets more than ever before.
A survey of 1,000 technology leaders conducted by Logicalis, a provider of IT services, suggests the role of the CIO has significantly expanded as organizations continue to launch multiple digital business transformation initiatives.
More than three quarters of the survey respondents (77%) said that despite an uncertain economy, their organization continues to invest in digital business transformation initiatives. Well over half the CIOs surveyed (57%) said that building and operating new digital platforms is a core part of their job.
A full 81% of CIOs are spending more time on innovation compared to a year ago with nearly half (46%) reporting that innovation is part of how their job performance is measured. A total of 81% of CIOs said they saw a 'significant increase' in the amount of time they spend on strategic planning in 2022, while 80% noted that business strategy will become a bigger part of their role over the next two years.
The deals IT leaders make with technology vendors and service providers are of strategic importance, making effective negotiation a difference maker not just for IT, but the business.
In an IT marketplace marked by turbulence, inflation, and economic uncertainty, the process of contracting with vendors for technology products and services has gotten significantly more challenging for CIOs.
IT leaders may find that prices are going up without an accompanying increase in benefits, with technology providers - less dependent on any one industry or geography - taking a harder line on deals, says Achint Arora, a partner in the pricing assurance practice at Everest Group.
Is the CIO a bridge builder, the engineer who designs the bridge, or the forecaster of the bridge's toll revenues?
The answer is that the CIO's role is a combination of all these functions. Over the last couple of years, CIOs have transformed from fulfilling functional, technology-operations roles into broader remits, including being strategic change agents who foster business growth.
In fact, Lenovo's recent global CIO study revealed a staggering 90% of CIOs report their roles and responsibilities have expanded greatly beyond just managing technology. Their influence today extends to areas such as ESG, diversity, equity and inclusion, HR and talent acquisition and even sales and marketing.
Is your organization hindered by outdated, incrementally developed software? Check out this advice to break the cycle and move forward
In his book, The Innovator's Dilemma, author Clayton Christensen writes that big companies fail to innovate not because of a lack of resources but because the processes and values that helped them scale are not designed for disruptive innovation.
Lately, I've been noticing a trend I call "the implementer's dilemma," which follows similar logic to explain why leading companies find themselves woefully stuck in outdated implementations of their software. Like the innovator's dilemma, the implementer's dilemma is a product of how enterprises function: Enterprises tend to approach software implementation with how to fix today's problems, not weighing the future needs of the business.
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