What does it mean to be a CIO in 2024? Quite a lot. It means more than overseeing an organization’s IT now. It’s about harnessing the transformative power of AI and other powerful technologies to drive business growth and innovation.
As technology continues to evolve, with AI at its forefront, the roles of CIOs are becoming increasingly vital in guiding and shaping their businesses. They’re not just managing IT infrastructure; they’re steering the AI revolution. Their positions are converging with CEOs as Gartner found that 45% of CIOs are beginning to share responsibilities with CxOs to co-lead on digital leadership.
AI is no longer a buzzword in the realm of digital strategy; it’s a game changer. It can supercharge a digital strategy in a range of ways, from enhancing sustainability efforts to transforming customer experience. As such, CIOs are not just managing IT infrastructure anymore; they are expected to steer their organizations’ AI and technology revolution across the whole business.
So, what are the key skills that today’s AI-savvy CIO must have in their arsenal to set their business up for success?
Leading from the middle
The perception shift in the CIO as a technology provider to a strategic advisor has been happening for quite some time, but it accelerated considerably post-pandemic. Today, 80% of CIOs say they expect business strategy will become a bigger part of their role in the next two years.
CIOs are now central to the strategy and execution of critical digital transformation projects, putting them right in the middle of the action. For key functional areas of business, including marketing, finance, and HR, access to the latest technology can put them at a significant competitive advantage. For example, sales teams could benefit from the real-time insights that are provided by the latest data and analytics tools. While HR could use AI to improve their recruitment pipeline and tackle bias.
Bringing key stakeholders on the journey means articulating how the overall strategy will positively impact their roles and teams. Therefore, the success of the CIO will rely on their communication and leadership skills and their ability to rally the business around these common goals.
Masters of everything
In a twist on the adage for today’s business, you have to spend money on IT to save money. Increasingly, stakeholders from across the business are realising the impact that the right technology could have on their operations.
Technology has the potential to increase efficiencies within the business, automate manual processes, and improve staff productivity and well-being. Beyond the internal benefits, technology investments will also impact customer satisfaction, through more effective customer management and the development of new tools and services built on the latest technologies.
While additional investment is always welcome, the breadth of potential technology has means that CIOs have to build their knowledge of many different specialisms, from marketing to sustainability. Everyone wants to harness the transformative potential of technology, but as the key driver of change and innovation, the CIO today needs to have a deep understanding of many areas of the business to help them fully realize the potential of their technology investments.
Navigating the skills shortage
As budgets increase, CIOs are also in the challenging position of having to do more with less, faced with a digital skills gap and hiring challenges.
CIOs must be at the forefront of upskilling their organization through leading upskilling initiatives within their organization to arm IT staff with critical new skills, such as AI programming and maintenance. In addition to this, the CIO must also partner closely with their peers from across the business to ensure that they are also preparing staff to make the most of new technologies.
However, upskilling takes time so, with resources already limited, knowing when to partner is important. Working with managed services providers can go a long way in easing pressure on CIOs and their teams. With partners taking on the day-to-day management of tech stacks, CIOs and other technology leaders can focus on longer-term innovation projects and high-level strategy.
While there are certainly challenges to be overcome for CIOs, there has never been a more exciting time to be in the role. The rise of AI and the proliferation of other connected technologies means that there is more scope than ever to create real, lasting change.
Armed with the key skills of communication, flexibility, and collaboration, CIOs can make the most of their seat at the table and guide. They have the opportunity to guide companies through navigating the complexities of AI implementation, driving technological advancements, and ultimately leading their organizations toward unprecedented success.
