{"id":6161,"date":"2021-06-01T11:02:16","date_gmt":"2021-06-01T10:02:16","guid":{"rendered":"https:\/\/www.intelligentcio.com\/apac\/?p=6161"},"modified":"2021-06-02T15:25:14","modified_gmt":"2021-06-02T14:25:14","slug":"study-reveals-australian-cios-are-not-prepared-for-major-business-disruption","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/apac\/2021\/06\/01\/study-reveals-australian-cios-are-not-prepared-for-major-business-disruption\/","title":{"rendered":"Study reveals Australian CIOs are not prepared for major business disruption"},"content":{"rendered":"\n<p><strong><em>A study from Genpact provides actionable insights from CIOs on how to accelerate Digital Transformation for a post-pandemic world.<\/em><\/strong><\/p>\n\n\n\n<p>Despite a time of unprecedented investment in digital infrastructure and transformation, more than three-quarters (76%) of Australian Chief Information Officers (CIOs) believe their CIO organization is not completely prepared to help their companies withstand another major business disruption.<\/p>\n\n\n\n<p>However, just over half (54%) agree strongly that they are well-positioned to support company growth after the pandemic, according to a study announced by Genpact, a global professional services firm focused on delivering Digital Transformation.<\/p>\n\n\n\n<p>Genpact\u2019s research, Pilots, Co-pilots, and Engineers: Digital Transformation Insights From CIOs For CIOs, in partnership with the MIT Sloan CIO Symposium, presents the views of 500 CIOs and technology leaders globally, 50 of whom are in Australia, on lessons learned in weathering the storm of the pandemic and preparedness for the journey forward.<\/p>\n\n\n\n<p>The study reveals three distinct roles: Pilots, co-pilots and engineers, with varying levels of influence over guiding change in their companies. In Australia, 24% of CIOs are pilots, leading the way and driving the transformation journey strategically across core business functions. The largest cohort, 56%, are co-pilots partnering with business leaders to shape and deliver transformation, and 20% are the engineers, simply executing, not driving transformation.<\/p>\n\n\n\n<p>A CIO\u2019s ability to drive Digital Transformation in the right places at the right time can make or break a business. During the past year\u2019s disruption, Australian CIOs who invested in automating processes, adopting advanced analytics and Artificial Intelligence (AI)\/Machine Learning (ML) adapted most successfully.<\/p>\n\n\n\n<p>Looking to the future, Australia expects to see an innovation boom and heavy investment in growing digital skills as supported in the 2021-22 Australian Federal Budget. This will not only enable CIOs to actively engage in the digital economy with confidence, but also empower businesses to grow investment in digital technologies.<\/p>\n\n\n\n<p>\u201cOur global study validates what we\u2019re seeing across our clients. As the power of the cloud, data and AI redefine the future of work, the CIO role is evolving exponentially but not equally,\u201d said Sanjay Srivastava, Chief Digital Officer, Genpact, who presented the research findings in a keynote speech at the MIT Sloan CIO Symposium. \u201cTransformation pilot CIOs that drive alignment across the C-suite and put the organizational focus on building resilience and innovation will be the co-creators of new business models and future-ready companies. CIOs who do not will see their organizations struggle.\u201d<\/p>\n\n\n\n<p>Other significant findings from Genpact\u2019s CIO study include:<\/p>\n\n\n\n<p>\u2022 Influencing the CEO\u2019s agenda is critical to CIOs\u2019 transformation success<br>The findings show that it is not enough simply to have access to the CEO, but rather to have a seat at the table in influencing the CEO agenda. It\u2019s clear that to drive strategic change, a CIO needs to report at a high organizational level, ideally to the CEO. But for the most successful CIOs, regular CEO meetings, not just reporting lines, make all the difference in the ability to leverage combined business and technology expertise to influence the company\u2019s strategic business agenda.<\/p>\n\n\n\n<p>\u2022 Being a data-led organization is imperative to success<br>Australian CIOs are aligned on the need to be data-driven. Almost all (98%) agree that their companies make data-driven decisions to realize business value. Respondents cite digital commerce technologies as the top innovation that will help CIOs achieve their goals. The top choice for investment if they had additional financial resources is robotic process automation\/intelligent automation. These technologies allow CIOs to make the most of the data at their disposal, generating predictive insights for more informed decision-making.<\/p>\n\n\n\n<p>\u2022 In the virtual world of work, CIOs are overlooking HR<br>As the pandemic forced more focus on employee safety, with only 30% of respondents saying that their CIO organization helps track employee wellbeing, human resources still ranked last among the functional areas prioritized for full-stack technology investment over the next two years. This warns of a potential disconnect in meeting employee needs with new remote and hybrid office models emerging.<\/p>\n\n\n\n<p>\u2022 CIOs are pivotal in connecting employee and customer experience<br>About a third (32%) of Australian CIOs surveyed hold themselves accountable for employee experience and (30%) for customer experience. In fact, CIOs are uniquely positioned to connect CX and employee experience technologies. Only when employees are digitally enabled can they deliver the experiences customers expect.<\/p>\n\n\n\n<p>\u201cCIOs who are not prepared from business disruption and post-pandemic growth risk becoming obsolete,\u201d said Tom Davenport, Distinguished Professor at Babson College, Visiting Professor at Oxford and Research Fellow at the MIT Initiative on the Digital Economy, and a Co-author of the Genpact study. \u201cGenpact\u2019s research provides insights on how all three types of CIOs can take the pilot\u2019s seat to accelerate digital business transformation and business growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A study from Genpact provides actionable insights from CIOs on how to accelerate Digital Transformation for a post-pandemic world. Despite a time of unprecedented investment in digital infrastructure and transformation, more than three-quarters (76%) of Australian Chief Information Officers (CIOs) believe their CIO organization is not completely prepared to help their companies withstand another major [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":6162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,52,55,44,54],"tags":[76,191,2006],"class_list":["post-6161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-main-story-newsletter","category-oceania","category-top-stories","category-used","tag-australia","tag-cios","tag-genpact"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/6161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/comments?post=6161"}],"version-history":[{"count":6,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/6161\/revisions"}],"predecessor-version":[{"id":6281,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/6161\/revisions\/6281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media\/6162"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media?parent=6161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/categories?post=6161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/tags?post=6161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}