While risks abound, the C-suite is firm in its commitment to “full-throttle” artificial intelligence deployments.
As global organizations start stacking artificial intelligence budgeting priorities, they’re increasingly concerned about key risks like a lack of employee digital skills, trust in IT from line-of-business (LOB) leaders, and digital business expertise among senior executives.
That’s not stopping them from embracing AI in a big way, however. A new IDC report titled FutureScape: Worldwide CIO Agenda 2024 Predictions — Asia/Pacific (Excluding Japan) Implications” predicts that 80% of CIOs will “leverage “AI and automation for business agility and insights by 2028.
CIO’s Tested
Chief information officers will be particularly tested as AI becomes powerful and harder to manage.
This from the IC study:
As technology continues to transform the business landscape, CIOs must evolve or risk being left behind. The successful CIOs of the future will be those who can seamlessly integrate AI and automation into their business strategies, ensuring their organizations remain agile, competitive, and secure in a rapidly evolving digital environment. This integration addresses immediate business challenges and aligns with long-term goals such as regulatory compliance, cybersecurity, and fostering a data-centric culture.
The IDC also focuses on specific pressures that CIOs face – and will continue to face – as AI-related risks emerge inside their organizations.
For example, 65% of CIOs will face pressure to adopt digital technologies like generative AI and deep analytics, “yet limited IT support may impede benefits and heighten risks”, IDC reported. Additionally, 55% of CIOs will work closely with LOB leaders to build stabilizing governance frameworks for cohesive AI strategies. “That will facilitate rapid adoption in worker augmentation and automation by 2025,” the report noted.
IDC also noted that “cybersecurity, data culture, resilient leadership, ESG compliance, and trust-driven customer engagement in crafting comprehensive technology approaches” will be a big priority by 2026.
The report also offered some cautionary predictions for the chief information officers going forward.
• Embedded Cybersecurity: By 2026, 75% of CIOs are expected to integrate cybersecurity measures directly into systems to detect and neutralize vulnerabilities preemptively.
• ESG for Competitive Advantage: Nearly half of CIOs aim to automate regulatory compliance and ESG initiatives by 2025 to enhance brand reputation.
• Trust-Driven Engagement: By 2026, 45% of CIOs will collaborate with CMOs to deliver seamless digital experiences based on unified customer data.
Brian O’Connell, a former Wall Street bond trader and best-selling author, is a prominent figure in the finance industry. With a substantial background as an ex-Wall Street trader, he has authored two best-selling books: ‘The 401k Millionaire’ and ‘CNBC’s Creating Wealth’, demonstrating his profound knowledge of finance and investing.
Brian is also a finance and business writer for esteemed national platforms and publications, including CNN, TheStreet.com, CBS News, The Wall Street Journal, U.S. News & World Report, Forbes, and Fox News.
