The use of technology, enabled by the 3rd Platform, will evolve rapidly over the next few years, presenting CIOs with an opportunity to redefine their job role. In their new role as a business peer, CIOs will need to deliver new revenue streams, mitigate business risks, and unleash the value of data.
Competitive Markets Demand Innovation, Agility, and Speed
A recent IDC survey of 194 CIOs indicates that 57% expect to be defined in terms of "delivering business innovation to increase revenue, margins, and new products" in order to address the demand for innovation, speed, and agility in competitive markets. Only about 10% of CIOs expect their role to continue with the traditional "focus on maintenance and operations to manage cost and risk."
However, one risk that is increasing dramatically and that must be addressed is that of cyber security, which will take an increasing percentage of CIOs' (and other executives') attention.
Finally, the use of analytics will drive competitive differentiation, and organizations without both good information management and good analytics will quickly fall behind. The CIO will be required to provide appropriate information management and will then be positioned to provide enterprisewide insights and competitive business value.
The number of IT devices and interfaces jumps exponentially
Nations, corporations, and cyber attackers institutionalize cyber warfare.
The personal IT cocoon time-shifts individual work, leisure, and family life
Aging IT workforce issues accelerate adoption of industry IoT cloud
Active cognition from smart analytics replaces passive analysis and interrogation
3rd Platform technologies compel IT to redefine and justify its role.
Cyber security concerns require IT leadership and ongoing CXO accountability.
Competitive markets demand innovation, agility, and speed.
By 2017, 80% of the CIO's Time Will Be Focused on Analytics, Cyber Security, and Creating New Revenue Streams Through Digital Services