Technology leaders’ agenda
To strategically transform, leaders need to deliver tech at speed, innovate at scale and put humans at the center.
The pressure is on technology leaders (chief information officers, chief technology officers and chief data officers) to strategically lead businesses forward. As digital acceleration transforms industries and customer and employee expectations, these leaders have a vital role in deploying technology and data to integrate functions, and enable new business models seamlessly. Delivering visibility with reliability, flexibility, and security is the key to unlocking long-term value for all stakeholders. Here are six actions to focus on:
Almost half of all companies say meeting changing customer demands is driving their digital transformation. Giving customers visibility into your organization, supply chain and product quality, and delivery builds trust to meet customer expectations. Technology leaders need to partner even more with the business to power new customer-centric strategies and experiences with technology.
Trusted data and AI are a fast track to gaining value-driving and monetizing insights. “The future is about embedding AI in core processes. That way, companies get smarter by the second,” says Beatriz Sanz Sáiz, EY Global Consulting Data and Analytics Leader. Focus on where problems and opportunities lie – customer experience, product innovation and personalization, supply chain and operations, pricing – and integrating AI into associated processes and business needs.
Scaling AI across an enterprise’s operations will require data platforms where data is trusted, consistent, secured and ready to use in real-time — an evolution toward modern “Business Data Fabric architectures.”
IT budgets are under considerable pressure: there is so much potential for new technology to explore, particularly in cloud applications, but limited or even shrinking funds to pay for it. Modernizing and automating IT, addressing technology debt, re-imagining the operating model, increasing resiliency and improving security are critical for a company to position itself for a more technology and data-intensive business environment. Leading companies are making the case to modernize IT while also investing in building a digital foundation to drive long-term growth.
Cultivating partnerships across a digital ecosystem is fundamental to success in today’s rapidly evolving technology and competitive landscape: 68% of digital transformation leaders think it’s the only way to succeed. Seek out new partnerships and curate ecosystems of value to move at speed, create new products and services and deliver on customer expectations.
“Organizations that are not laser-focused on humans at the center and solving the skills gap problem face serious competitive risks for productivity, innovation and growth,” says Liz Fealy, EY Global PAS Solutions and PAS Workforce Consulting Leader. Technology leaders need the visibility to understand current and future skills gaps and develop “build, buy and borrow” talent interventions accordingly. Recruit scarce skillsets or bring them in from the ecosystem, future-proofing leaders and teams by upskilling them with digital, adaptive and agile capabilities, and reskilling from a technical and functional perspective to deliver against business objectives.
New technologies introduce new demands on security, in addition to those of existing infrastructure. Deploying in a cloud environment raises new concerns of business interruption and valuable data protection. If customers and business partners don’t trust your technology, they simply won’t use it. Maintain resiliency and visibility with your stakeholders by adopting a risk-optimization mindset across your technology portfolio.
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