2018 Gartner CEO Survey took 460 CEOs under their survey focusing on a different aspect. From those factors, one was business growth. 40% of the CEO or leaders are majorly focused on the business growth. Hiring employees with simple means of increasing productivity with undertaking digital transformation. Digital transformation is one way to make changes and upgrades in the structure of the company. This practice is upskilling the business and its entity.
AI, Machine Learning and Predictive Analytics, these three elements of fourth industrial revolution has made businesses to undergo some changes. These changes are the first key to unlock door towards the transformation of culture. To be competitive in the market business must implement new emerging technology into their culture. Transformation is necessary and you can’t implement it in just snap of fingers. This slow process will keep you ahead of your competitors. Through these programs, CEOs reported achieving the ideal balance of skill upgradation, work-culture transformation and overall business optimization.
CIO and CEO with Digital Transformation for Business:
Be a Leader:
When it comes to business, many CEOs see their business as an innovation pioneer. Here CIOs come into the role by encouraging their CEOs to invest more in R&D. CIOs want their company to adopt digitization and make their products more innovative. The desire of being seen is making CIOs leaders in many areas of the company decisions. Even mergers, partnerships are also treated as ‘surgical integration’. Their faith is now more on employee’s experience because their experience helps in attaining comprehensive leadership.
Discuss the Budget:
Digital abilities are now taking over the center stage and that need all CEO’s to think like CIOs. This is crucial in a matter of budget allocation, resources acquisition. Digitization has played important role in growing businesses and keeping them ahead. However, a CEO must verify and do some digging about the technology they are about to implement in their business. So before undergoing any significant transformation CEO must do some practices. These are like, evaluation of financial impact, in-depth research of business need and values addition toward business.