This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
This year saw emerging risks posed by AI , disastrous outages like the CrowdStrike incident , and surmounting software supply chain frailties , as well as the risk of cyberattacks and quantum computing breaking todays most advanced encryption algorithms. Of these, AI is at the top of many CIOs minds.
Proving the ROI of AI can be elusive , but rushing to achieve it can prove costly. Bogdan Raduta, head of AI at FlowX.AI, says, Gen AI holds big potential for efficiency, insight, and innovation, but its also absolutely important to pinpoint and measure its true benefits.
In my view, companies that split up these functions are seeing second-order consequences around communication, costs, and conflict, and are bringing these roles back together. The art is being able to scale the benefits we see on one job across multiple jobs,” she says. “To So they’ll be patient when it comes to ROI.
2) BI Strategy Benefits. Without real-time insight into their data, businesses remain reactive, miss strategic growth opportunities, lose their competitive edge, fail to take advantage of cost savings options, don’t ensure customer satisfaction… the list goes on. Benefits Of Implementing a BI Strategy. Table of Contents.
This is why many enterprises are seeing a lot of energy and excitement around use cases, yet are still struggling to realize ROI. So, to maximize the ROI of gen AI efforts and investments, it’s important to move from ad-hoc experimentation to a more purposeful strategy and systematic approach to implementation.
Most data management conferences and forums focus on AI, governance and security, with little emphasis on ESG-related data strategies. If sustainability-related data projects fail to demonstrate a clear financial impact, they risk being deprioritized in favor of more immediate business concerns.
And this goes for government organizations as well as private corporations, as adaptability enables improved mission effectiveness, improved citizen service, increased operational efficiency, faster response times, the ability to do more with less, and reduced costs.
Integrated riskmanagement (IRM) technology is uniquely suited to address the myriad of risks arising from the current crisis and future COVID-19 recovery. Provide a full view of business operations by delivering forward-looking measures of related risk to help customers successfully navigate the COVID-19 recovery.
Driving business benefits Companies seeking CAIOs are looking to reap myriad benefits from AI adoption, ranging from improved decision-making, to increased efficiency of business processes, higher-quality services, profitability, talent management, customer experience, and innovation.
It also means some individual cloud projects fail, there’s been a change of provider, or there’s some disillusionment regarding costs of new cloud operating models. And more than 22% of respondents are still asking themselves about the benefits or ROI after they’ve started their cloud journey.
We talked about the benefits of Zero Trust , but there are other data protection measures that you must take too. Benefits of cloud backup. In professional terms, it is called TCO and ROI, the overall investment cost and return on investment. What is backup? Data backup is the basis of disaster recovery.
CIO.com / Foundry They also cited AI/ML capabilities in specific areas — such as riskmanagement, fraud detection, smart manufacturing, predictive maintenance, quality control, and personalized employee engagement — as fueling transformation. We’re solving problems that weren’t solvable before,” he adds.
The technology stack is complemented by professional services from strategy through to execution to ensure that the data is actionable and that there is a clear ROI. One of the biggest challenges of IoT is proving ROI,” says Devin Yaung, SVP, Group Enterprise IoT Products and Services at NTT. Edge Computing.
“The most pressing responsibilities for CIOs in 2024 will include security, cost containment, and cultivating a data-first mindset.” Building and deploying intelligent automation CIOs will need to operate more efficiently by accelerating the benefits of automation. Our focus is on curating reusable data and AI insights,” she says.
Gone are the days of the CIO being a back-office IT costmanager,” declares Chris Scheefer, vice president of intelligent industry at technology services and consulting firm Capgemini Americas. In this way you are in a much better position to control scope and deliver real benefits faster and in phases.”. Build business value.
Buying analytics instead of building them helps companies go to market faster, see ROI from analytics sooner, focus on their core competency, benefit from incremental improvements over time, and much more. The solution: Buy and embed an industry-leading analytics platform into your core offering.
But where the puck is moving to is really around business use cases and identifying use cases where they will see value from their AI investments,” says Dera Nevin, a data lawyer, information riskmanagement expert, and managing director in the technology segment at FTI Consulting. That’s not the only message CEOs are sharing.
Gartner projects that spending on information security and riskmanagement products and services will grow 11.3% To better focus security spend, some chief information security officers (CISOs) are shifting their risk assessments from IT systems to the data, applications, and processes that keep the business going. “If
A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches. Digital RiskManagement – Gartner. Doing so will allow for a proper ROI analysis detailing the potential for profit maximization.
There’s no denying the immense benefits that cloud computing can bring to data management: easier scalability, reduced cost of IT operations, improved performance… the list goes on. But in order to reap those enviable benefits, you have to do something not-so-enviable: Migrate. Well, maybe. 1) Plan it out.
Staying razor-focused on business benefits and communicating in a language everyone understands is central to successful IT initiatives, whether the project involves state-of-the-art technology like robotic process automation (RPA) or is a bit more mundane, like upgrading an aging data center.
Enhanced market research and competitive intelligence: Social media text mining provides businesses a cost-effective way to conduct market research and understand consumer behavior. A targeted approach will optimize the user experience and enhance an organization’s ROI. What is text mining?
With a success behind you, sell that experience as the kind of benefit you can help improve. Value Management or monetization. RiskManagement (most likely within context of governance). Product Management. Saul Judah is our main person focusing on D&A riskmanagement. Governance. Architecture.
Now fully deployed, TCS is seeing the benefits. The framework “has revolutionized enterprise API development,” says CIO Milind Wagle, who cites several transformative benefits, including improved speed to market and a two- to threefold improvement in developer productivity when building APIs within industry and Equinix standards.
And Google’s AI has made other high-profile flubs before, costing the company billions in market value. The only significant increase in risk mitigation was in accuracy, where 38% of respondents said they were working on reducing risk of hallucinations, up from 32% last year.
But the biggest benefit was to new and lower-skilled workers, who saw a 34% improvement. In February, McKinsey released the results of a survey showing that 84% of telcos using gen AI for customer services were seeing cost savings, and 45% of them reduced costs by 6% or more. But that was for tasks that the AI was good at.
Most enterprises in the 21st century regard data as an incredibly valuable asset – Insurance is no exception - to know your customers better, know your market better, operate more efficiently and other business benefits. What do you recommend to organizations to harness this but also show a solid ROI? That’s the reward.
Artificial Intelligence The benefits of AI, such as accounting support, anomaly detection, and financial analysis are undeniable. 91% of cloud holdouts plan to migrate within the next two years, but remain hesitant due to fears about data security, migration costs, and integration challenges.
As per a McKinsey survey, organisations reported cost decreases in human resources, and commonly reported meaningful revenue increases (of more than 5 percent) in supply chain and inventory management. Prioritize scalable cloud infrastructure to support AI workloads while optimizing costs. Myth: AI Delivers Immediate ROI.
CIOs must build strong relationships with other executives to ensure IT is seen not as a cost center but as a critical enabler of business success. Not all IT projects have equal value and identifying the initiatives that will deliver the most significant benefits requires rigorous assessment.
Success depends on understanding data needs, measuring ROI, fostering organizational AI fluency and partnering with ethically aligned ecosystems. To succeed in todays fast-paced business landscape, IT leaders must skillfully blend innovation with strategic riskmanagement. IQ ensures preparedness; EQ enables agility.
Marsh McLennan CIO Paul Beswick says enterprise CIOs and perhaps more importantly, CEOs should not get distracted or alarmed by vendors competing announcements about milestones and instead focus on getting first-generation AI projects deployed , evaluate the results and ROI , and carefully plan next steps.
We organize all of the trending information in your field so you don't have to. Join 42,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content