What I Wish the Board Knew: CIOs Speak
The best CIOs don’t just support the business, but use technology to drive value within it. In this session, CIOs and directors spoke about the ideal role that IT can play—not to simply support strategy but to actually drive innovation. In a world of rapidly changing technology, business processes must be fully integrated with IT across all business units so that capabilities can be delivered most efficiently. Thus, IT is becoming a top priority for boards, and as such, boards recognize that they need to better understand IT risks. The CIO can help educate directors about how business and IT are linked.
1. Today, an effective CIO is one who understands how technology can provide a competitive advantage. An emerging trend in companies is to establish the role of a chief digital officer, and not all, but some existing CIOs will be able to perform this role.
2. Companies recognize that traditional service models are changing in today’s interconnected world. Leading companies are focusing on building a holistic customer experience from start to finish through technology. It is important for senior management to work closely with the CIO and other technology leaders to understand how technology can be used to drive strategic goals and stay ahead of the competition.
3. Directors should be discussing with management how the company compares to “best in class” digital competitors, and whether it is doing enough to impact the top- and bottom-line results. In addition, they should discuss IT’s role in helping to foster innovation.
Speaker quote: “Technology is the great equalizer but it is also the great differentiator.”
F. Thaddeus Arroyo
CIO, AT&T; Director, NCWIT, HITEC, ATIS
Vice President and Executive Partner, Gartner Executive Programs
Director, JetBlue; Managing Partner, Azimuth Partners LLC
This summary provided by PricewaterhouseCoopers.