CIOs must be involved in board-level decision making in order for companies to benefit from ‘disruptive’ technologies, a report has judged.
‘The Board and the CIO’, published this week by Advanced 365, states that company board-members must work closely with their CIOs to make the most of technologies like cloud computing and mobile internet. These types of technologies have the greatest potential to drive innovation and growth, reports sourcewire.com.
Senior executives must also enhance their technical knowledge in order to improve the business’ competitive advantage, it says.
Neil Cross, Managing Director Advanced 365, told thecsuite.co.uk: “Technology now influences every area of business but some organisations are only using a fraction of its potential to drive business vision and strategy forwards.
To bridge this gulf, company boards must work more closely with their CIOs to identify the solutions that can transform their business – now and in the future.”
Disruptive technologies could potentially contribute between $165 trillion and $275 trillion to the global economy by 2025, according to the McKinsey Global Institute. Other key emerging technologies include the automation of knowledge work and the Internet of Things, alongside cloud computing and mobile internet.
Mr Cross adds: “More businesses are realising that CIOs hold the key to driving innovation and supporting board-level decision making to turn vision into reality. In contrast, boards that sleepwalk through technological advances are likely to get left behind by their competitors.”
Author: Chloe Menage