CIOs are playing an increasingly crucial role in the boardroom, according to a new study from Logicalis, a global technology service provider. The 2023 Global CIO Survey, titled The Meteoric Rise of the CIO, surveyed 1,000 technology leaders to explore the evolving role of the CIO, revealing that CIOs are now seen as digital evangelists and strategic advisors.
The report indicates a significant shift in the role of CIOs, with 50% stating that their board now expects them to deliver continuous innovation. In addition, 80% of CIOs said that business strategy will become a more substantial part of their role over the next two years. CIOs are increasingly spending their time selling their ideas to the board, with 77% of those surveyed stating that this is now a more significant part of their job.
“CIOs are playing a leading role in orchestrating transformation and are stepping up in response to the changing industry dynamics”, commented Bob Bailkoksi, CEO at Logicalis. “Yet, CIOs are faced with challenges to navigate, including a potential recession and talent shortages. In addition to this, they are experiencing increased pressure to deliver digital-based outcomes for their organisations, giving them more exposure to their Boards and requiring a different way of operating.”
As technology leaders become more actively involved in business strategy, the study identified four critical areas of focus for CIOs, including innovation, strategy, digital transformation, and reimagining service partnerships. 50% of CIOs are expected to deliver continuous innovation that differentiates and elevates customer and employee interactions. Meanwhile, 57% of CIOs state that building and operating new digital platforms remains a core part of their job, with 80% anticipating business strategy to become a more prominent part of their role over the next two years.
“Modern CIOs have the right leadership skills and technology expertise to ensure their organisation is well equipped for the digital world,” said Toby Alcock, CTO of Logicalis. “Rather than just supporting business needs through technology, the CIO is now using technology to help create new business models and tap into more revenue streams.”
The survey also revealed that 41% of CIOs now have some level of responsibility for business strategy, and 81% state that they are spending more time on innovation. Logicalis anticipates that CIOs will continue to be instrumental in helping organisations adapt to digital-first business models and drive new revenue streams.