Organizations increasingly rely on data and technological processes to survive and succeed. This makes CIOs more important than ever. Traditionally, chief technology officers oversee the implementation and maintenance of internal technology. But they were seldom involved in overall business strategy and decision-making. Since technology is central to most companies’ bottom lines, CIOs now are critical decision-makers regardless of the product or service offered to gain a competitive advantage. This article at CIO by Eric P. Bloom discusses IT leaders’ vantage point as they will be omnipresent in every business unit and transaction.
CIOs Can Create a Competitive Advantage
With access to and implementation of multidimensional and cross-functional approaches, IT can identify cross-departmental processes and technologies. Additionally, you can use internal technologies designed for one area to serve other areas with the exact needs and assess new efficiencies. CIOs now stand at the crossroads of business and technology with a bird’s-eye view of the entire organization’s operations. Here are three areas where IT leaders have an excellent view:
Identifying IT Latest Trends for Competitive Advantage
Digitization has advanced to the point where businesses can use machine learning, blockchain, cyber security, cloud computing, virtual reality, and augmented reality for business purposes. These innovations will become more mature and can be leveraged for standard production systems. They will soon be providing a competitive advantage to businesses.
The IT executive’s job typically revolves around their company’s specific software applications, identified needs, and current technologies. Therefore, to become an IT thought leader, you need to broaden your focus to include these five categories:
- Technologies used
- Evolving technology
- Diversifying use of technology
- Knowledge of competitors’ technology
- Identifying the latest technologies used by customers/clients
Knowing Your Industry
Keep an eye on the economy. This includes your industry’s competitors, state and federal legislation, customer demographics, and other factors affecting your business. In addition to enhancing your current job performance, you can then anticipate your business partners’ and clients’ needs. This will give you a competitive advantage at the company strategy table.
Understanding the Convergence
Be a resource for your IT team, business partners, and organization’s leadership by combining technical skills with industry business expertise. The following traits are also essential to achieving IT thought leadership:
- Perspective from a holistic standpoint
- Business opportunity identification through innovative thinking
- Effective interaction with all stakeholders
To read the original article, click on https://www.cio.com/article/306574/how-cios-become-it-thought-leaders.html