CIOs playing more prominent boardroom role
CIOs worldwide feel the IT function is still not being given the credit it deserves, but the situation is starting to improve as organisations turn to IT for innovation.
A Deloitte survey of 700 CIOs worldwide - including around 30 from Australia - found that 75% of CIOs feel they understand how IT could support their organisation’s innovation efforts. But only a third (35%) believe their company views the IT function as a credible hub of innovation.
The survey also found that 78% of IT budgets have either increased or stayed the same since last year, and 42% of the typical IT budget is now being put towards change or growth activities.
There are signs that some CIOs are being given more input at the executive level, Deloitte said. This is evidenced by the fact that over a third of CIOs consider their next role to be that of COO or even CEO.
But many IT leaders are still struggling to partner with the business, with over 60% of CIO respondents rating their business partnering capabilities as merely “fair” or “poor”.
In Australia, CIOs need help with business partnerships, either because the business doesn’t understand what they do or because they do not understand what the business wants from them.
IT leaders worldwide are also struggling with a shortage of good talent for their teams - the people with the right mix of technological, strategic and communications skills.
Despite the remaining challenges, Deloitte Consulting Technology partner Kurt Proctor-Parker said the future is looking bright.
“We are confident there are many untapped opportunities lying ahead for the CIO. They have never played a more prominent role in the boardroom, nor have they had more opportunities to get closer to the business strategy than they have now,” he said.
“While we still have some way to go, especially in terms of improving the IT business relationship, the perception of IT is changing as more organisations realise the strategic importance of this function. This is a positive move in the right direction.”
Making sure your conversational AI measures up
Measuring the quality of an AI bot and improving on it incrementally is key to helping businesses...
Digital experience is the new boardroom metric
Business leaders are demanding total IT-business alignment as digital experience becomes a key...
Data quality is the key to generative AI success
The success of generative AI projects is strongly dependent on the quality of the data the models...
