Professional Services firm Genpact today released its global CIO study revealing that, despite lessons learnt in 2020, the majority of CIOs are unprepared for another business disruption.
The study was conducted in partnership with MIT Sloan CIO Symposium, surveying 500 CIOs, of which 50 were Australia-based.
According to the report, 76 per cent of Australian CIOs do not believe their organisations are prepared to withstand another major disruption, although more than half (54 per cent) believe that their companies are well positioned for growth in a post-COVID world.
According to Chief Digital Officer at Genpact, “Our global study validates what we’re 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.”
Srivastava presented the findings today in a keynote at the MIT Sloan CIO Symposium.
The findings highlight that CIOs believe their contribution to transformation in the organisation is of critical importance, particularly in influencing the CEO. A whopping 98 per cent believe that data-driven decisions directly impact business value and are investing in digital commerce technologies to do so.
According to Genpact, “These technologies allow CIOs to make the most of the data at their disposal, generating predictive insights for more informed decision-making.”
Looking to the organisations that survived and even thrived in the pandemic, it was the CIOs who invested in automation, advanced analytics and AI who saw the best results and were able to adapt to the dramatic disruption.
“Transformation pilot CIOs that drive alignment across the C-suite and put the organisational 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 organisations struggle,” says Srivastava.
Genpact claims that its research helps CIOs to better accelerate digital business transformation by providing insights into the roles of pilots, co-pilots and engineers.
According to Genpact, “In Australia, 24 per cent of CIOS are pilots, leading the way and driving the transformation journey strategically across core business functions. The largest cohort, 56 per cent, are co-pilots partnering with business leaders to shape and deliver transformation, and 20 per cent are the engineers — simply executing, not driving transformation.”