New research by Logicalis has revealed that AI, digital transformation and cybersecurity are the top priorities for tech leaders. The research was revealed in the company’s 10th annual CIO report, which surveyed over 1,000 CIOs globally. Despite economic uncertainty, 85% of organisations are investing in AI technologies with transformative potential in 2024.
The research also showed that majority of CIOs feel internal pressure to quickly seize new tech opportunities. For example, 87% of respondents have already established AI workstreams and a similar number are investing in AI skills despite the technology being in the very early stages.
Yet CIOs’ excitement is not without apprehension: most technology leaders expressed worries about AI threatening their core business propositions and concerns about the challenges of effectively regulating AI use internally. In response, 86% have kicked off formal AI policies.
As well as AI, CIOs are facing a number of disruptive and challenging forces prompting them to continually reassess and rebalance priorities. Nearly all CIOs are facing barriers to implementing digital transformation, with many citing a lack of skills and digital vision.
Rapidly evolving cyber threats, propelled by powerful technologies like quantum computing are also a key concern for CIOs in 2024. Despite improving cybersecurity, a staggering 83% of businesses suffered a cyber hack in 2023 resulting in significant business damage including unscheduled downtime, loss of revenue and customer data and regulatory fines. As a result, confidence remains low with only 43% of CIOs feeling fully prepared for another breach.
Bob Bailkoski, Global CEO of Logicalis Group said: “In 2024 we’re seeing the culmination of disruptive forces for the CIO, from AI to advancing security threats. There is a sense from the respondents that the pace of digital transformation is involuntarily slowing down due to a shortage of available skills in the face of emerging technologies. CIOs face the dual dilemma of how to continue leading organisations with the aim to drive innovation and growth, while protecting their organisations from the evolving digital threat landscape.”
“The future tech leader needs to have a diverse set of skills from visionary thinking to strategic execution, becoming the master of the balancing act and choosing carefully where to focus”.
CIOs also recognised the importance of connectivity infrastructure in supporting innovative growth. The Internet of Things and Private 5G were key investment areas highlighted by respondents, with 93% investing in or planning to invest in Private 5G for uses including improving customer and employee experiences, real-time inventory and asset oversight, connecting remote areas, and even enabling new revenue streams.
