5 challenges that are top-of-mind for CIOs in 2024
The rapid pace of digital transformation presents both opportunities and challenges for CIOs. Today’s businesses are so dependent on technology, connectivity and automation that decisions made around hardware and software are inextricably linked to operational success.
Smart technology investment is essential, but with innovation comes new considerations - including these 5 challenges that CIOs are keeping top-of-mind in 2024.
1. Cybersecurity threats
Security concerns are nothing new, but CIOs know there is never a time to be complacent. With the adoption of remote work and cloud computing, organisations are more vulnerable than ever to the increasing number and sophistication of cyber attacks. In CERT NZ’s quarter three report, scams and fraud reports had increased 32% from Q2, and $4.7 million in direct financial loss was reported. CIOs must continue to prioritise robust security measures, including advanced encryption, multi-factor authentication, and monitoring systems. Regular security audits and employee training programmes are also essential to ensure that everyone in the organisation is equipped to recognise and respond to potential threats.
[We’ve recently partnered with Onwardly, an Aotearoa-founded platform that is helping to democratise security and privacy, making it more accessible, and affordable, for SMEs to proactively defend their business. Essentially, it’s designed to make it easier for even non-tech folk to feel confidence and peace of mind around their cyber resilience. Read more about Onwardly and our partnership.]
2. Talent acquisition and retention
Competition in the IT industry remains tight and finding the right talent to support your organisation in-house can be tough. As technology evolves rapidly, organisations are on the hunt for skilled professionals with expertise in emerging technologies such as artificial intelligence, machine learning, and cybersecurity. Investing in talent development programmes, hiring offshore and building diverse, inclusive teams might be the ideal, but are not always realistic solutions that suit your budget or resourcing. As a result, CIOs are turning to external managed IT services providers who can provide high-level, specialised support that flexes around their needs and talent shortages.
3. Balancing budget with modernisation
As business needs evolve, technology needs to support the way that today’s employees want to work. But many organisations still rely on outdated legacy systems that are expensive to maintain, lack scalability, and hinder innovation. Modernising legacy systems and integrating new technology requires careful assessment, strategic planning, and future-ready investment in new technologies. It also requires a careful roll out that minimises disruption to business operations. Collaborating closely with business stakeholders to develop a phased approach for migration and partnering with an experienced project delivery team can help CIOs streamline the digital transformation process and reduce risks and disruption.
4. AI in the workplace
AI will be on every CIO agenda in 2024. AI has the potential to automate routine tasks, improve decision-making processes, and enhance productivity, but its implementation requires careful planning and consideration of its impact on employees and business processes. While AI has accelerated what’s possible through automation, CIOs need to consider whether AI systems are transparent, accountable, and aligned with ethical principles. Easily accessible generative AI tools, such as ChatGPT, are also raising questions around security and sharing of information. AI outputs rely on “what goes in”, so in considering adoption of AI tools, organisations will need to double-down on how they are managing data (management, quality, security and availability).
One of the key considerations for many organisations will be maintaining trust and managing misinformation and misleading content, whether created unintentionally or intentionally as with the rise in deepfakes. Training education of teams will be a key strategy that successful organisations use to ensure their people are able to make the most of the opportunities AI presents while remaining aware of the risks.
5. Sustainable IT
As technology continues to evolve, CIOs hold the reins to technology that can drive positive change and shape a more sustainable future for your organisation. And yet according to Accenture’s recent sustainable technology survey, only 7% of companies have fully integrated their technology strategies with their sustainability strategies. There is opportunity for CIOs and technology leaders to drive initiatives and seek out opportunities for impact reduction by making ESG (Environmental, Social and Governance) the focus of technology, rather than an afterthought. We’ve shared more on the responsibilities of a CIO in realising your company’s sustainability strategies here.
Our senior consultants offer knowledge and expertise, working alongside you to offer specialised advice where you need it. If you’re looking for support with managed services, project delivery or strategic guidance around sustainable IT solutions, we can help. Reach out, and let’s chat about your goals for 2024.