CIOs are under increasingly intense pressure to deliver business value and win over CEOs and C-suite executives. Sure, new CIOs can play the long game and earn credibility organically over time, but many CIOs need to produce immediate results – so who has time for that?
In their report, “3 Actions for New CIOs to Quickly Build Credibility With the C-Suite,” Gartner analysts Daniel Sanchez Reina and Erin Neus-Cheong offer advice new CIOs can use to leverage what they call a “surprise factor” by taking three steps in their first 100 days to accelerate their credibility with the executive leadership team.
[caption id="attachment_138835" align="alignnone" width="1036"] Three actions for new CIOs can take to quickly build credibility with the C-Suite[/caption] 1. Turn IT into a revenue generator New CIOs can stand out by identifying and proposing compelling strategic digital solutions. Don't wait for specific instructions, Gartner advises, proactively explore opportunities to accomplish the following:
- Monetize existing data assets: Analyze your company's extensive data and identify potential revenue streams through data packages tailored to specific customer segments.
- Develop new digital products and services: Align technology innovations with your company's mission. Gartner cites examples such as IoT-powered devices and subscription-based services.
- Support existing non-digital products/services: Explore the benefits of platform businesses or new online channels to expand reach and revenue opportunities.
[caption id="attachment_138836" align="aligncenter" width="1022"] CEO’s investment intention over the last 12 years.[/caption]
2. Franchise digital delivery to address talent shortages Tech talent and skills shortages are a major concern for boards for directors, That concern is well-founded as it can hinder enterprise growth. CIOs can address this challenge by adopting what Gartner describes as “a franchising digital delivery mindset.” This involves breaking down IT department walls and empowering other business areas to contribute to technology production.
The Gartner report lists these benefits of franchising:
- Increased success rates in enterprise-wide digital initiatives
- Improved CIO performance across all responsibilities
- Increased return on investment for digital initiatives
- Identify areas where non-IT employees can gain needed technical skills, such as business intelligence or low-code/no-code development.
- Provide training and empower business technologists to use these tools for their departments.
- Establish clear governance boundaries to ensure data quality, privacy and cybersecurity.
- Leverage communities to facilitate knowledge sharing and best practices among business technologists.
3. Champion genAI: Anticipate use cases for your industry Artificial intelligence (AI) and generative (genAI) is a hot topic at board meetings around the world, with businesses allocating significant resources to develop genAI capabilities. Proactive CIOs can seize the initiative by doing the following:
- Identify potential genAI applications within your industry or company.
- Demonstrating the value of genAI to the C-suite, showcasing potential applications to speed up product/service development and customer interactions, boost productivity through AI-assisted content creation or process automation, minimize risks through enhanced fraud detection and cybercrime prevention.
- Collaborate with the business to co-lead, co-deliver and co-govern genAI initiatives.
Comments