Deloitte FS Tech Forum Survey

In recent years, CIOs have shifted from cost centers to revenue generators, leveraging technology for insights, customer focus, and innovation. The Technology Leadership Study examines this transformation by analysing CIOs' priorities, time management, challenges, and investment strategies. It also highlights key tech skills needed for the future, including creativity, leadership, problem-solving, data science, and analytics. Ultimately, the study emphasises the pivotal role of technology leadership in modern business, urging CIOs to adopt strategic approaches, tackle measurement obstacles, and invest in emerging tech for organisational success.

Learnings from the survey:

Talent, not technology, may be your secret weapon: The success of your organisation hinges on its tech talent. Tech leaders must actively address skills gaps and foster a culture that emphasises the significance and purpose behind the work, not just the tasks themselves.

Monetise your data and software or bust: Tech leaders are investing heavily to broaden the impact of technology within their enterprises by developing monetisation capabilities.

Strategically allocate capital to maximise the impact of your tech investments: With larger budgets, tech leaders face heightened scrutiny and higher business expectations, necessitating strategic capital allocation for tech investments.

Five strategies to help overcome this challenge: Burn your current tech strategy; strike a balance between qualitative and quantitative measures; eliminate lengthy budget reviews; never present costs without highlighting the impacts; and recognise that this exercise is as much an art as a science.