Leaders in tech-forward companies also use tech to grow and innovate. They understand how to tap into ongoing tech efforts to inform strategy development. Take, for instance, the rise of technologies such as generative AI, which has the potential to impact at least 40% of working hours. In order for the C-suite to determine what effects the technology can have on their businesses, they need to speak the same language.
We’ve heard from our clients that CIOs now spend more time with their CEOs than they did even 18 months ago. And a global leader in commercial and specialty vehicles revealed the benefit of combining these efforts when it created a digital services factory that, together with its product-based business model, helped differentiate and push forward design, development, and delivery of services to customers.
This changing relationship offers an opportunity and a call to action for CIOs to be bolder and move beyond simply the execution of technology to helping educate their peers on the business potential of that technology. Whereas previously tech has been a bit of a black box, CIOs must now consider how to be value-drivers while being only 10% better at tech than everyone else. That can include anything from becoming more integrated to the business to focusing attention on how new technologies can inform strategy, and everything in between.
Similarly, with CEOs and the rest of the C-suite becoming more knowledgeable in technology, they can better engage in the potential benefits and risks of using certain tech. To take one contemporary example, by collaborating with the CEO, tech leaders can establish clear guidelines for employees on how and when to use public generative AI tools. And they can put in place responsible AI programs and processes to address ethical concerns with the latest tech. This type of approach elevates CIOs beyond the focus on IT to become more strategic, which 52% have said they’d want.
Gen AI era ushers in distinct perception shifts
Now is the ideal moment for gen AI to change the perception of executives’ roles. In the IT sphere, a transformation in service delivery has already begun in that within just a few months, companies have moved from AI curiosity to putting it at the heart of their operations.
Our research shows that 73% of total working hours in technology roles can be transformed by generative AI. And in the US alone, it has the potential to create nearly $2 trillion in economic value. It’s a major opportunity for CIOs to position themselves as key agents of change in organizations, and use their IT organizations as use cases to illustrate the art of what’s possible.
