Only 13% of IT budgets on average are spent on new technological opportunities
The clock is ticking for CIOs to identify emerging technologies which can provide a competitive advantage and position IT as the engine for change within organisations. These are the key findings in a new report – ‘What’s Hot in 2016 – technology trends’ published by Advanced 365 (Advanced) in association with Global Futures & Foresight.
The report highlights the need for CIOs to evolve their roles from being focused on IT operations to IT strategy. Furthermore, they must seek to better collaborate with senior leaders to align business goals alongside investing in technological developments such as software robotics, new security models and the Internet of Things to transform the potential of technology into demonstrable efficiencies.
CIOs are increasingly expected to harness emerging disruptive technologies while balancing future business needs alongside today’s operational challenges. Organisations which fail to keep up with the speed of innovation in technology to improve agility risk trailing behind their competitors.
Neil Cross, Managing Director of Advanced 365, comments, “The use of innovative technology has become difficult to separate from mainstream business activities. However CIOs must seize the opportunity and facilitate change by strategically linking emerging solutions to address organisations’ most pressing issues.
“By focusing on implementing the requisite cultural change to realise the benefits of new ways of working, as well as researching and introducing the right technologies, they can provide their organisation with a sustainable competitive edge both now and in the future.”
The report also reveals that *76% of organisations feel that digital technologies are disrupting their industry to a ‘great’ or ‘moderate’ extent. This figure is expected to rise as automation-based technologies, such as virtual reality, influence a growing number of professional jobs. In addition, with only **13% of IT budgets on average spent on new opportunities, unsurprisingly more than two-thirds (68%) of executives feel they are unprepared to embrace shifting technological trends.
Cross adds, “Many organisations still lack the technical expertise to be able to transform the potential of technology into tangible results that clearly yield efficiencies. CIOs must demonstrate their understanding by breaking down internal resistance to help deliver the changes needed throughout the business.
“By reducing technical complexities and crafting effective compliance for data privacy and protection, CIOs can prove their true value by successfully launching businesses into the digital era.”
The report – ‘What’s Hot in 2016 – technology trends’ has been written by David Smith, Chief Executive of Global Futures and Foresight. The report highlights 15 technologies which are most likely to create disruption and opportunities for businesses, whilst including best practice recommendations for a range of industries.