URGENT UPDATE: CIOs are facing unprecedented challenges as they strive to prove business value in an evolving tech landscape. Recent insights from industry leaders reveal critical strategies to navigate these hurdles effectively.
Today’s CIOs are not just tasked with enabling business value; they are accountable for driving and measuring it. External factors such as shadow IT and underutilized software often hinder their impact. InformationWeek sought expert opinions from three top IT executives on how to tackle these pressing concerns.
Michael Ringman, CTO at Ibex, stressed the necessity of forming robust business relationships. He noted that shadow IT can be a litmus test for IT effectiveness, suggesting that it highlights areas where IT isn’t fully engaging with the business. “Finding shadow IT is super cool,” Ringman explained, as it indicates that teams are actively seeking solutions to problems. He advocates for making smaller investments in projects to allow for rapid experimentation and learning.
Meanwhile, Scott Weller, CTO of EnFi, emphasized that change management has become increasingly crucial as organizations undergo digital transformation. “IT must measure not only at the end of a project but also during it, linking efficiencies and revenue generation,” Weller stated. He noted that successful enterprises embed technologists within business units to capitalize on market opportunities, rather than relying on traditional AI councils. This top-down approach ensures strategic impact while remaining flexible.
At Preply, CTO Dmytro Voloshyn highlighted the importance of data in navigating external challenges. Last year, Preply partnered with OpenAI to assess the impact of AI tools on productivity. By calculating time saved across departments, they could predict potential cost savings. “The easiest way to connect IT and the business is to discuss costs and expected value, without delving into technical jargon,” Voloshyn said. His collaboration with the CFO exemplifies how a shared understanding of long-term investments can facilitate effective technology and workforce strategies.
This shift in focus is not just about technology; it’s about human connection. “With increasing automation, maintaining a human-centered approach becomes vital,” Voloshyn remarked, highlighting the emotional impact of these changes on organizational dynamics.
As organizations grapple with these evolving demands, they must prioritize collaboration and adaptability to survive and thrive in a rapidly changing environment. The call for CIOs to drive business value is more urgent than ever, and the strategies shared by these leaders offer a roadmap for success.
CIOs and IT leaders should watch for further developments in this space as more organizations adapt their strategies to meet these challenges head-on. The future of business value hinges on understanding both technology and the human element that drives it.
