Remove 2022 Remove Digital Transformation Remove Risk
article thumbnail

3 force multipliers for digital transformation

CIO Business Intelligence

While digital initiatives and talent are the board directors’ top strategic business priorities in 2023-2024, IT spending is forecasted to grow by only 2.4% Tech companies have laid off over 250 thousand employees since 2022, and 93% of CEOs report preparing for a US recession over the next 12 to 18 months.

article thumbnail

Banks bet on AI to deliver digital efficiencies

CIO Business Intelligence

Interestingly, developing existing talent is the third most cited focus for digital transformation — a sign that leaders recognize the importance of preparing employees to work with gen AI. Digital transformation harder than ever Despite that emphasis on making the most of AI, banks continue to struggle with digital transformation.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is digital transformation? A necessary disruption

CIO Business Intelligence

Once a vanguard business strategy, digital transformation has become a perennial objective for business survival. Most CEOs (72%) continue to prioritize digital investments, according to the 2022 CEO Outlook report from KPMG, in part due to concerns about emerging and disruptive technology, a top three risk to organizational growth.

article thumbnail

Digital transformation – from mainframes to the ‘deeply digital’ organisation

CIO Business Intelligence

The next generation of successful organisations will be the ones that embrace the potential of digital transformation, or so it has been said with increasing frequency in the last decade. Digital transformation, then, is a term that reflects the new operational reality for every organisation.

article thumbnail

10 AI strategy questions every CIO must answer

CIO Business Intelligence

ChatGPT set off a burst of excitement when it came onto the scene in fall 2022, and with that excitement came a rush to implement not only generative AI but all kinds of intelligence. Whats our risk tolerance, and what safeguards are necessary to ensure safe, secure, ethical use of AI?

Strategy 141
article thumbnail

Reporting cybersecurity posture and systemic risk to the board

CIO Business Intelligence

Cybersecurity and systemic risk are two sides of the same coin. As we saw recently with the CrowdStrike outage, the interconnected nature of enterprises today brings with it great risk that can have a significant negative effect on any company’s finances. This should be no surprise since the global average cost of a data breach is $4.88

Risk 132
article thumbnail

Allstate’s cloud-first approach to digital transformation pays off

CIO Business Intelligence

Zulfi Jeevanjee, EVP and CIO, believes the best way to build and align next-generation business processes and modern IT platforms is to build anew, and so he is taking a cloud-first approach to digital transformation, dumping out all legacy infrastructure along the way. To fuel its transformation, the Northbrook, Ill.