CIOs back in the 1980s were more involved technically, as they secure information gathered from computers and machines for interpretation and strategic planning. This scope of practice changed as CIOs were seen more as overseers of the IT department of each company. “CIOs now are part of the executive board, reporting directly to the CEOs regarding information technology affairs,” according to Saleh Stevens, a known tech writer.
Fast forward to present day, CIOs hold more responsibilities than ever in a fast-paced digital world. What are the trends this year and how can a CIO respond to these trends? Read further to find out more.
5 Business Technology Trends Defining CIO Responsibilities This Year
1. Automated customer support
Artificial Intelligence (AI) has been increasingly playing a big role in the development of modern businesses. Instead of relying on human customer support, several businesses have applied an automated chatbot that is readily available for client inquiries and troubleshooting. Although this is a helpful business trend that a company can feature on their website, it needs time to set up and continuous finetuning in order to fit the client’s needs. The CIO is responsible for helping build a framework for the chatbot to follow and assign ITs to program this on the website. Afterwards, the CIO can report the results of adopting this business trend how it helped increase engagement and customer satisfaction.
2. Rise of cryptocurrency
Cryptocurrency is one of the hottest business trend topics since its current rise in the stock market. A lot of businesses are contemplating about accepting the digital currency as a form of payment within their businesses, or if they should develop their own currencies themselves. This can be a debatable topic and as a CIO, he or she must discuss the advantages and possible risks of accepting cryptocurrency as a trend to include in their business strategy. Additionally, if the executive board is in favor of accepting this trend, the CIO must know how the system can be set up. Assigning data analysts and digital experts to design the system and record data will be essential to help the CIO create a digital currency platform that will appeal to their clients.
3. Cybersecurity
Cybersecurity is one of the top most priorities of any business that aspires to expand in the digital world. A lot of sensitive information is exchanged when clients enter payment details for a product or a service. To have the highest standard of safety measures, the CIO is responsible to provide an integrated system where clients can be more protected. The business must consider the risks of identity theft, stealing payment information, and other data risks that may compromise the customers and employees. At present, there are a lot of new trends that help in preventing these risks of fraud, such as facial recognition, fingerprint as passwords, and blocking out passwords in suspicious locations and devices. The CIO must identify which systems can be helpful to improve the business’ cybersecurity.
4. Evolving content marketing strategies
Content marketing is a pillar of a business with a strong online presence. The creation of text, image or video ads, news articles, blogs and all other related content can help a business grow exponentially and reach the target market. The CIO must be aware of the current content marketing strategies, which is quickly evolving from search engine optimization to social sharing. This is especially useful for a startup business. Since a lot of corporate giants already dominate the search engine landscape, new businesses must make use of other strategies to reach their target audience using an engaging and shareable content. The CIO must be able to get insights from their company’s creative directors and video marketers on which types of content are effective. From there, they can make informed marketing decisions.
5. AI systems for web development
AI systems for web development aside from customer support can include auto-suggestion, the creation of newsletters, personalized user experience and many more. These business trends for the year have been increasingly common in order to generate more leads for the business. The CIO is responsible for knowing which trends can be applied to their business and if it is effective upon application.
“A good example of this is Amazon,” Saleh Stevens remarked. “Amazon takes the data of your recent searches and send you a newsletter of suggested products related to that search. These types of AI systems for web development can help boost your business,” he adds.
Knowing these business trends is important for any CIO. With the ever-changing technological developments, proper research and being open to new trends are always necessary characteristics for a business to grow.