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Digitaltransformation is a broad term that is difficult to define precisely. Think of digitaltransformation as a way to future-proof a business. But, you can consider it a change in the business activities to prioritize your business’s digital presence. Steps To Driving A Successful DigitalTransformation.
million —and organizations are constantly at risk of cyber-attacks and malicious actors. In order to protect your business from these threats, it’s essential to understand what digitaltransformation entails and how you can safeguard your company from cyber risks. What is cyber risk?
As CIOs prepare for the next wave of digitaltransformation, they must demonstrate shorter-term business impacts from technology investments and achieve larger innovation goals that evolve the organization’s business model.
The message to CIOs is to do more with less, and the implication is that CIOs must look at digitaltransformation initiatives differently than in years past. Force-multiplying digitaltransformation initiatives aim to accomplish multiple strategic objectives through a single vision and investment.
The analyst reports tell CIOs that generative AI should occupy the top slot on their digitaltransformation priorities in the coming year. Despite all that, CIOs should add generative AI initiatives to the much longer secondary list of transformation programs. Luckily, many are expanding budgets to do so. “94%
The past decade in IT has been all about digitaltransformation. Transformations once envisioned to be a two- or three-year journey, to catch up or get ahead, have become a continuous journey with no end in sight. The philosophy behind adaptive systems is more about innovation than risk management.
Even beyond customer contact, bankers see generative AI as a key transformativetechnology for their company. Interestingly, developing existing talent is the third most cited focus for digitaltransformation — a sign that leaders recognize the importance of preparing employees to work with gen AI.
Organizations that continued full speed ahead with their digitaltransformation initiatives during the COVID-19 pandemic are able to ruminate on what went right and what they would have done differently, with the benefit of hindsight. But there are lesser-known, less obvious attributes of a successful digital program.
Despite AI’s potential to transform businesses, many senior technology leaders find themselves wrestling with unpredictable expenses, uneven productivity gains, and growing risks as AI adoption scales, Gartner said. CIOs should create proofs of concept that test how costs will scale, not just how the technology works.”
Once a vanguard business strategy, digitaltransformation 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.
In today’s fast-paced business world, companies are striving to harness the power of digitaltechnologies to reinvent their operations, enhance customer experiences, drive innovation, and thereby create value for stakeholders. But the hard truth is that many digital initiatives fail to deliver results.
The Middle East is rapidly evolving into a global hub for technological innovation, with 2025 set to be a pivotal year in the regions digital landscape. Looking ahead to 2025, Lalchandani identifies several technological trends that will define the Middle Easts digital landscape.
When you’re guiding a large enterprise on a complex, long-term digitaltransformation journey, it can be very difficult to know which near-term steps will get you most rapidly to your desired destination. Cox Automotive Within Cox Automotive, the use of VSM has been instrumental in achieving success in digitaltransformation.
Despite the best of intentions, CIOs and their organizations often struggle to deliver business outcomes from digitaltransformation strategies. And while KPMG reports that 72% of CEOs have aggressive digital investment strategies, McKinsey details a harsh reality that 70% of transformations fail.
With supply chain issues and the impending recession, digitaltransformation remains a pressing strategic imperative. However, key digitaltransformation milestones remain out of reach for far too many teams. The survey also revealed that digitaltransformation initiatives are tightly aligned with VSM.
As the GCC countries continue to evolve into global digital hubs, the adoption of technologies such as 5G, AI, and IoT is accelerating rapidly. Malik noted that 5G has been in the GCC for more than five years, enabling both carriers and industry customers to explore the possibilities of a truly digital world.
Resolving the balance between what business leaders want versus what technology leaders feel is needed is a critical aspect of VSM success. As both innovation and architectural efforts evolve, business and technology leaders make all steering decisions in concert, not as independent entities. DigitalTransformation
One of the greatest things about working in technology is the surprise advancements that take the industry by storm. A bleeding-edge technology is one that takes the industry by storm because it creates a significant paradigm shift into how things currently work with the potential to majorly impact the industry itself.
One of the world’s largest risk advisors and insurance brokers launched a digitaltransformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age.
Although enterprises acknowledge the importance of digitaltransformation in the current environment of flux, few succeed in their digital initiatives. A major reason so many digitaltransformation programs fail is that enterprises view them as technology problems rather than the organizational challenges they truly are.
Digitaltransformation and climate change initiatives have similarities despite having different foci. Digitaltransformation focuses on integrating digitaltechnologies into all business areas, fundamentally changing how the organisation operates and delivers value to customers.
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 digitaltransformation, dumping out all legacy infrastructure along the way. To fuel its transformation, the Northbrook, Ill.-based
Resistance to digitaltransformation comes in many forms. Even when the changes are necessary, such as in the case of increased competition from disruptive new entrants or the emergence of transformativetechnologies, the effort required to overcome internal inertia could exhaust all your magic powers.
Migration to the cloud, data valorization, and development of e-commerce are areas where rubber sole manufacturer Vibram has transformed its business as it opens up to new markets. It’s a change fundamentally based on digital capabilities. I always try to push for improvement and simplification,” says Pacetti. “We
As a digitaltransformation leader and former CIO, I carry a healthy dose of paranoia. Call it survival instincts: Risks that can disrupt an organization from staying true to its mission and accomplishing its goals must constantly be surfaced, assessed, and either mitigated or managed. Are stakeholders struggling or unhappy?
At the helm of the Center’s technological evolution is Dr. Fahad Almoqhim, Chief Information Officer (CIO), who has been instrumental in leading the center’s digitaltransformation. Almoqhim sheds light on how technology is reshaping SAAC’s operations and its mission to enhance accreditation services across Saudi Arabia.
Hes leveraging his vendor relationships to keep pace with emerging as well as tried-and-true technologies and practices. One of them is Katherine Wetmur, CIO for cyber, data, risk, and resilience at Morgan Stanley. She recognizes that the possibilities of AI grow by the day but so do the risks.
Since 1998, the brand has evolved and grown in step with technology, and today, the size of its network and consumer use has made it a household name in digital payment systems. Initially, the company emerged from x.com and Confinity as a crypto company, developing P2P payments and using PalmPilot’s Beam technology.
But as organizations look to quickly leverage the power of emerging digitaltechnologies for business growth, such an approach is falling short on expectations. Such a risk-based capital approach is important as it provides a new experimental push to the organization that may propel it into a new orbit,” says Rabra.
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
One of the world’s largest risk advisors and insurance brokers launched a digitaltransformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age.
Digitaltransformation is revolutionizing the way organizations operate. Intelligent new services and infrastructure can optimize cost and performance, but the rapidly evolving technology environment also introduces complexity. However, constant modernization is not a straightforward task.
Theres also the risk of over-reliance on the new systems. Cybersecurity teams will need to reevaluate the relative importance of data assets, update inventories, and account for new threats and risks these AI systems might bring to their organizations. While AI is undoubtedly powerful, its not infallible.
The mainframe has long been considered one of the most secure systems for IT leaders, but as new technologies like open source enter the equation, relying on a reputation of security is nowhere near enough. What steps can be taken to minimize the risk of hackers penetrating the mainframe?
Capabilities like AI, automation, cloud computing, cybersecurity, and digital workplace technologies are all top of mind, but how do you know if your workers have these skills and, even more importantly, if they can be deployed in your areas of need? That’s a common parlance in IT, talent, and leadership circles.
Karen Higgins-Carter, previously CIO of Webster Bank, joined Gilbane just over a year ago as CDIO with the responsibility of digitallytransforming this 153-year-old business. We’re in an industry that is ripe for transformation,” says Higgins-Carter, pictured above, center. My team is very proactive and customer-focused.
Taking too long on AI projects Extracting value from AI is a key CEO priority today , and many IT leaders have in turn reshaped their IT agendas to emphasize projects centered on the technology. AI technology is changing so fast that projects taking more than a month can end up built on out-of-date technology, he says.
It wasn’t just a single measurement of particulates,” says Chris Mattmann, NASA JPL’s former chief technology and innovation officer. “It Adding smarter AI also adds risk, of course. “At When it comes to security, though, agentic AI is a double-edged sword with too many risks to count, he says. “We
This shift not only reduces the chances of human error but also elevates the quality of outputs across various departments, which reflects a broader trend of harnessing technology to drive meaningful transformation in the workplace.
As Robert Blumofe, chief technology officer at Akamai Technologies, told The Wall Street Journal recently, “The goal is not to solve the business problem. These technologies often do not undergo a complete vetting process, are not inventoried, and stay under the radar. The goal is to adopt AI.”
Technology Solutions’ dominant model revolved around hardware products. While this model is not diminishing, new cloud-based software technologies are changing business needs and competitive realities are giving rise to alternative technology solutions business models. Outdated hardware also poses security risks.
A new area of digitaltransformation is under way in IT, say IT executives charged with unifying their tech strategy in 2025. Adopting emerging technology to deliver business value is a top priority for CIOs, according to a recent report from Deloitte. But that will change. “As
Aligning ESG and technological innovation At the core of this transformation is the CIO, a pivotal player whose role has expanded beyond managing technological innovation to overseeing how these innovations contribute to ESG goals. It provides CIOs a roadmap to align these technologies with their organizations’ ESG goals.
Imagine navigating a rapidly changing landscape, where technology seems to evolve at the speed of light and the pressure to keep up is relentless — this is the reality for today’s CIO. CIOs face the daunting challenge of driving innovation while managing costs and ensuring practical implementation in a rapidly advancing digital landscape.
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