CIOs Share Insights on the Lessons They’ve Learned This Year
The past year was one of rapid change, as economic cycles, business trends, and technology evolved at an extraordinary pace. IT leaders have taken a moment to reflect on what they’ve learned during this tumultuous period.
In a dialogue with several Chief Information Officers (CIOs), they shared their key takeaways from navigating the challenges of 2024.
1. Generative AI Moved Past Hype and Proved Its Worth
After two years of generative AI’s existence, Jamie Smith, CIO at the University of Phoenix, believes it’s now maturing. “We’re moving away from the hype and learning to live with generative AI,” he remarks. This reflects a broader acceptance, as even previously skeptical staff members began recognizing its value. Smith notes a senior engineer who was once unwilling to use AI tools found them now comparable to top coders.
2. AI Investment – and Pressure – Grew Upward
As organizations have matured in harnessing AI’s potential, pressure for measurable outcomes has increased. Greg Barrett, CEO of GMB Consulting, emphasizes the need for technology leaders to be intentional about AI investments, moving the conversation towards addressing critical business needs with AI solutions.
3. It’s All About Business Value
CIOs have realized the necessity to demonstrate how all technology initiatives deliver business value. Sathish Muthukrishnan of Ally Financial highlights the importance of integrating technology closely with business functions.
4. Change is Accelerating, Which is Positive for IT
Kellie Romack, Digital Information Officer at ServiceNow, notes that embracing change is vital. “This year has shown me the role of CIO as a changemaker,” she asserts, encouraging collaboration across the C-suite.
5. People Still Need Help Navigating Change
Ryan Downing, of Principal Financial Group, stresses that while technology evolves rapidly, the human aspect of adopting these changes is crucial. His team learned through deploying AI solutions that support and training for employees are essential to realize technology’s full value.
6. Talent Remains More Important Than Tech
Stephen Watt from Hyland emphasizes the critical role of existing talent. “It’s still about your existing talent,” he states, acknowledging the expertise and situational awareness long-term employees bring to the table.
7. Jobs Are Rapidly Changing
Watt highlights how technology, especially AI, is transforming job responsibilities. Employees are now expected to use AI as a tool to enhance their work rather than as a replacement.
8. The CIO Role is Changing, Too
Ankur Anand, CIO at Nash Squared, reflects on how the role of CIO has become more prominent. He notes that CIOs must now be integral in contributing to business strategies rather than merely supporting them.
9. CIOs Must Be Ready for Anything
Muthukrishnan underscores the importance of being agile and flexible amid uncertainty. He suggests that technology strategies need to embrace agility to adapt to rapidly changing environments.
In conclusion, as technological landscapes evolve, CIOs are focusing on enhancing their strategies and leadership approaches to navigate the intricacies of their roles effectively.
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