The pandemic accelerated a lot of digital innovation, and CIO roles are shifting to meet changing demands, according to a recent report by Genpact and the Cambridge-based Massachusetts Institute of Technology.
The study asked 500 CIOs and technology leaders in several industries, such as healthcare, life sciences and insurance how their role is evolving.
The report found that CIOs fall into three main categories: piloting innovation, co-piloting innovation or engineering transformation as requested by business leaders. CIOs who report directly to the CEO and meet with them regularly are the most successful at driving transformation, an Aug. 2 summary of the report said.
CIOs reported having three main focuses:
- The cloud and automation.
Almost half (40 percent) of CIOs said automation is helping their company adapt to changing business conditions. All of the respondents said they've already started to adopt the cloud, or will do so in the next year. - Data analytics and artificial intelligence.
CIOs are increasing the use of data analytics and AI programs. About 8 in 10 CIOs said they're spending a lot of time crafting a culture of data-driven decision-making. The executives are also trying to improve data literacy for their entire team. - Hiring and upskilling.
Nearly half (49 percent) of CIOs said they don't have enough talent in their companies and are relying on external services to help staff up. Companies are also looking for tech teams that can combine their IT knowledge with business intelligence.