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Noting that companies pursued bold experiments in 2024 driven by generative AI and other emerging technologies, the research and advisory firm predicts a pivot to realizing value. In addition, despite billions of dollars invested in AI infrastructure and generative AI in 2023, only 20% of businesses reported earnings benefits from AI in 2024.”
CIOs are readying for another demanding year, anticipating that artificial intelligence, economic uncertainty, business demands, and expectations for ever-increasing levels of speed will all be in play for 2024. They’re articulating ambitions and formulating objectives, turning those would-be challenges into opportunities.
Rick Boyce, CTO at AND Digital, underscores how a typical IT project mentality toward DevOps can undercut the CIO’s ability to deliver on businessobjectives. CIOs may mistakenly underinvest in practices that improve user experiences, increase alignment with business stakeholders, and promote a positive developer experience.
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% Many CIOs will face a challenging year grappling with growing pressure from transformation initiatives, weekly layoff announcements, and the prospect of a recession.
In today’s rapidly evolving digital landscape, agility is no longer just a buzzword — it’s a business imperative. Yet, according to IDC’s March 2024 Future Enterprise Resiliency and Spending Survey, Wave 3 , 60% of organizations consider their digital infrastructure spending poorly aligned with expected business results.
Everything runs seamlessly and efficiently and all stakeholders are aware of the cloud’s potential to drive businessobjectives. Teams are comfortable with experimentation and skilled in using data to inform business decisions. Service ownership is established and distributed to self-sufficient teams.
The 2024 Board of Directors Survey from Gartner , for example, found that 80% of non-executive directors believe their current board practices and structures are inadequate to effectively oversee AI. How does our AI strategy support our businessobjectives, and how do we measure its value?
But this year three changes are likely to drive CIOs operating model transformations and digital strategies: In 2024, enterprise SaaS embedded AI agents to drive workflow evolutions , and leading-edge organizations began developing their own AI agents.
CIOs now list innovation as the most important trait they need to bring to their role, according to a 2024 survey by professional services firm Deloitte — ahead of delivering top-line value and serving as change agents, two endeavors that require innovation to facilitate. Slow progress frustrates teams and discourages future experimentation.”
I am a key member of the council responsible for formulating the companys business strategy and setting goals, followed by developing 1-year, 3-year, and 5-year plans. This ensures that our technology roadmap is fully aligned with our overarching businessobjectives and fosters a continuous cycle of innovation and efficiency.
Focused on digitization and innovation and closely aligned with lines of business, some 40% of IT leaders surveyed in CIO.com’s State of the CIO Study 2024 characterize themselves as transformational, while a quarter (23%) consider themselves functional: still optimizing, modernizing, and securing existing technology infrastructure.
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