What are the emerging trends and technologies that CIOs should be aware of?
CIOs should be aware of
The 2023 tech trends that CIOs need to be aware of involve a mix of emerging technologies with broad applications. The challenges to CIOs include keeping a close eye on these technology trends, having the foresight to create an effective IT vision and making sure that all technology initiatives are seamlessly interwoven into the business’s overall operations.
The emergence of a new generation of tech savvy workers has created more opportunities for companies to leverage AI and augmented reality (AR) in their products and services. Many companies are leveraging these technologies to make their products more user-friendly, while some are using them to improve customer service and increase sales. As a result, these technologies are quickly becoming the core technology infrastructure of most organizations.
Another trend that is likely to impact many businesses is the growth of data-driven cultures. With this shift, more CIO coaching teams will focus on putting data and valuable insights into the hands of everyone in their workforces. This will require AI to process the massive amount of data each organization generates, external data sources to be used to acquire even more insight and better data governance to become a top priority for more organizations.
What are the emerging trends and technologies that CIOs should be aware of?
As this shift takes place, the need to find a way to manage and control costs is also growing in importance. For example, more IT teams will seek to reduce the number of siloed technologies in their systems by consolidating tech stacks. This will lead to better management of IT spend and resources, while improving operational efficiencies.
One key technology for CIOs to consider embracing in 2023 is distributed data fabric technology. This technology allows organizations to decentralize their data management efforts and allow business teams to create their own self-service data provisioning infrastructure. This will lead to faster time-to-value for business projects and lower the risk of data security breaches.
Other key technology for CIOs to consider leveraging in 2023 is explainable AI. This will provide more transparency into how an AI system has reached a particular decision. This will help businesses build trust and confidence in their systems, which will ultimately help drive greater success and ROI.
For modern organizations whose ROI window is two to four years, Forrester recommends piloting four emerging technologies: edge intelligence, explainable AI, intelligent agents and privacy-preserving technology. These technologies can improve real-time intelligence and performance for IoT networks, digital twins and smart cities.
As CIOs work to navigate the 2023 tech trends and prioritize their investments, they must be careful not to spread themselves too thin. Otherwise, their company could end up with out-of-synch applications and a low-trust environment. The key is to identify those technologies that will have a measurable impact on the company’s bottom line. This will give the CIO and their team the best chance of succeeding in their technological future. Then, they will have the power to transform their business into the digital economy. The CIOs that do this successfully will ensure that their companies can survive and thrive in a world of constant uncertainty.