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CIOs and CTOs navigating in the AI age: impacts to the data and technology strategy and operating model

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Author: Lester Chan - Partner, Technology Consulting 
Contributor/s :
Ryan Franke - Consulting Leader, Private Equity, Pensions and Real Estate
Andrea Wolfson - Partner, People Advisory Services
Kevin Leung – Manager, Technology Consulting
Ali Abbas Rawji - Manager, Technology Consulting

Embrace AI to transform business models and drive innovation in data and technology functions for a competitive edge.


In brief
  • Transformative drivers: Generative AI, evolving vendor ecosystems and macroeconomic pressures are fundamentally reshaping organizations’ technology strategies and operating models.
  • Increasing complexity to navigate: To maintain relevance, digital and technology leaders, must adopt a strategic mindset to navigate an increasingly complex set of investment tradeoff choices alongside existing organizational barriers.
  • Posture of the data and technology functions: Data and technology teams must avoid falling into the trap of being the risk and control function. They must adopt cross-functional team approaches, evolve their own skills and roles, and find the balance to be a value creator and engine for innovation through the delivery of business outcomes.

Adopt a strategic mindset towards AI, just like you do with other technologies

In today’s rapidly evolving landscape, several key drivers are reshaping the functions that data and technology executives are leading. Generative and agentic AI stand at the forefront, revolutionizing how organizations approach problem-solving and innovation, and therefore the expectations of your data and technology functions’ role in enabling that future. 

Simultaneously, we are witnessing a shift from traditional tech-enabled transformations to tech-triggered transformations. In this new paradigm, technology is not just a tool for improvement — it’s the catalyst for fundamental change. For example, a tech-enabled transformation might involve using a new system to make an existing process area more efficient, whereas a tech-triggered transformation uses AI to create new business models.

The vendor ecosystem is also undergoing significant upheaval. As tech vendors scramble to adapt to and adopt AI, new entrants and solutions are emerging, and acquisitions are regularly occurring, creating both opportunities and challenges for businesses. This dynamic environment necessitates a keen understanding of the evolving landscape to make informed decisions.

Finally, macroeconomic conditions are compelling organizations to reassess their technology strategies. Economic pressures are driving a sense of urgency, pushing leaders to seek innovative solutions that can deliver immediate value and competitive advantage.

In light of these factors, organizations’ data and technology functions face an increasingly complicated environment. These shifts and the growing pace of change make it harder to steer technology and data capital allocation decisions.

Business leaders often turn to their CIOs and CTOs to lead the charge in navigating these complexities, often with an expectation that failure to act and adapt will lead to obsolescence.

So, what does It mean for the leaders of data and technology functions?

As organizations grapple with the challenges and opportunities presented by AI, the implications for the next generation of data and technology functions are profound. We believe it is fundamental for leaders in this space to bring a technology strategy mindset to face this wave of change:

  • It’s essential to approach AI as an integral part of enterprise technology strategy planning. Define and link to the desired business value strategically, rather than getting lost in isolated use cases — “use case bingo”. This involves both a top-down assessment of business capabilities and a roadmap for how AI will transform them over time.

    It also requires you to have a bottom-up understanding of areas where AI can be applied. In some ways it’s similar to how traditional system implementations require business process change to fully realize its benefits. For more details, see our POV on AI Value Acceleration and AI Catalyst. 
  • While initial efforts may focus on productivity gains and cost reductions, significant value also lies in driving new capabilities and generating new revenue streams. Consider a company like Coca-Cola, which used AI to co-create a new product, the Coca-Cola Y3000 Zero Sugar. Using AI today to be a driver of new revenue, not just a cost saver.

    Your internal data and technology functions are often focused on delivering outcomes related to productivity and cost efficiency. But they need to earn their seat at the table through contributions to front office business impacts.
                                                       
  • Your IT department plays a crucial role in navigating this landscape. Immediate questions they’ll need to ask include:
    • How can we capitalize on our existing technology stack?
    • Should we buy or build?
    • Which LLM or solution is better?
    • Should we purchase this vertical AI agent solution or build our own agent?
    • Will this be on the roadmap of our existing technology?

However, beyond the decisions to bring in new capabilities, your data and technology teams must also guide the business to establish the foundation required to unlock AI’s value in the long term. Critical decisions to invest in data maturity, cloud transformation and scaling capabilities become critical prerequisites to quality outcomes with AI.

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    Data and technology operating model impacts

    The evolution of data and technology operating models requires a continued shift toward fluid, cross-functional and agile product delivery. AI presents paradigm shifts in how organizations achieve business outcomes. The most effective way to enable your technology teams to work on the highest and best value outcomes is through cross-functional teams incrementally moving towards that objective, regardless of the technology used.

     

    However, in reality, existing technologies present a fundamental constraint to how these teams approach their work. Therefore comparatively, you must approach your teams’ mandates with your eyes wide open. You must accept that while AI will certainly be integrated to improve on existing outcomes, it may also fundamentally replace or transform outcomes. Situations like these might need more of a project pattern or temporary body to address this to avoid self-interested behaviour. An example of this is Google’s decision and need to cannibalize its traditional search capabilities with Gemini’s AI overviews or funnelling active users from Google Search to Gemini.

     

    The next-generation data and technology function is rapidly evolving into a strategic orchestrator of autonomous systems, human-machine teams and intelligent workflows. This is driven by the emergence of agentic AI — autonomous agents that can plan and execute complex, multi-step workflows with a different type of human involvement. This represents a paradigm shift beyond simple automation. 

     

    This new reality necessitates key changes within your data and technology teams:

    • They’ll need to incorporate new talent archetypes like Prompt Engineers, who translate human intent into machine instructions, and MLOps / AIOps roles, who manage the lifecycle of AI assets in production. To access these skillsets means partnering with HR teams to ensure role profiles and job architectures are kept modernized to attract the right talent, along with thoughtful use of vendors and service providers to access the talent needed.

    • These teams must also lead by example, aggressively adopting AI in your organization’s own core business processes. Consider embedding AI throughout the software development lifecycle in areas such as:                                                                                                                          
      • AI-enabled requirements gathering: for example, generation of user stories and PRDs
      • Code generation or debugging: such as more, better, faster code
      • Quality assurance: probabilistic systems instead of deterministic systems require a different type of quality assurance
      • Areas of IT operations such as automated IT service management or AI-powered cybersecurity, for example to match a new level of AI-powered threats

    To do this, maturity and documentation of these processes and expected outputs will help enable the use of AI. But perhaps even more important, your data and tech leaders will need to provide the appropriate guardrails and space within that rigour to enable their teams to experiment with different ways to achieve these AI-enabled outcomes.

    • As organizations establish their AI operating models, IT’s role cannot be confined to a control function. Instead, it must work in tandem with the business and people leaders, including your talent/HR teams, to bring innovative ideas to the table and serve as a catalyst for innovation, all while balancing speed of adoption and availability of skillsets. 

      IT should focus on creating the platforms and foundations for innovation while establishing guardrails that protect the organization — inevitably, IT will be looked at if and when things go wrong — without stifling creativity or speed. Governance assets — including standards/policies, working committees and frameworks — need to be quickly yet carefully updated or crafted and rolled out, with mechanisms for continuous improvement, to enable the organization to start delivering.

    As we face this technological revolution, the journey toward a next-generation data and technology operating model is not without its challenges.. But it also presents a unique opportunity for growth and innovation. Like previous waves of technological change — such as outsourcing, SaaS adoption and cloud migration — the imperative for data and technology leaders within businesses is clear: embrace the change but maintain a strategic posture, foster and enable cross-functional collaboration, and lead by example from within.

     


    Summary 

    Organizations must adopt a strategic mindset towards AI, transitioning from tech-enabled to tech-triggered transformations. This shift emphasizes AI as a catalyst for innovation and new business models. Data and technology leaders are tasked with navigating complexities, focusing on productivity, and driving new revenue streams. As the vendor ecosystem evolves, IT departments must collaborate with business leaders to establish robust AI operating models, ensuring agility and cross-functional teamwork. Embracing AI in core processes and fostering a culture of innovation will be crucial for success in this rapidly changing landscape.



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