On June 13, Lenovo Group released the second edition of the Global CIO Report with the theme of "The Resilient CIO". The report shows that despite global economic headwinds and IT budget challenges, global Chief Information Officers (CIOs) still firmly believe that technological innovation can create value for enterprises. At the same time, risks still exist. Eighty-three percent of surveyed CIOs worry about not having enough budget to invest in innovation and digital transformation, and nearly half (48%) of CIOs say they are "extremely" or "very" concerned about securing adequate technology resources. This is also the second update after Lenovo Group released the Global Chief Information Officer Report for the first time last year.
This press release contains multimedia. View the full press release here: Lenovo Group Global CIO Report Second Edition: Global CIOs Call for Technological Innovation Resilience | Business Wire
Today, with the uncertainties brought about by factors such as the global economic downturn, the emergence of new technologies, and budget cuts, companies are gradually accelerating their digital transformation to flexibly respond to challenges. Among them, the role of the CIO has become increasingly important . In order to further study the value brought by the transformation of the role of CIO to the enterprise, Lenovo Group conducted a survey of 682 CIOs around the world. The survey samples came from Brazil, China, Germany, India, Japan, Singapore, the United Kingdom, and the United States. Respondents from each market The number of people is almost equal, and the respondents are all from companies and organizations with more than 250 employees.
The importance of CIO to enterprises is becoming more and more diverse. According to the report, 84% of the interviewed CIOs believe that they have made more contributions to their companies or organizations as CIOs than other company executives, an increase of 7 percentage points from last year. At the same time, CIOs also shoulder responsibilities outside the traditional scope: 90% of CIOs said that they are not only responsible for technology-related affairs, but also need to take into account responsibilities such as business model transformation, corporate strategy and sustainable development (ESG). The uncertain environment makes all this challenging. "The CIO's work has become more arduous and risky than before. Coupled with the complex technical environment, CIOs find it difficult to promote digital transformation across the organization and make business decisions." Lenovo Group Solution Service Business Group (SSG) President Huang Jianheng said.
Globally, CIOs are generally dissatisfied with their existing IT infrastructure, with a majority (55%) of respondents saying they would replace half or more of their technology stack given the opportunity. And nearly half of CIOs (48%) believe technological innovation is more important than optimizing existing technology stacks. But this behavior is also accompanied by risks. 60% of CIOs said that freezing innovation investment may have an impact on the business in an instant or within a few weeks. This impact will span business automation, business model transformation, data analysis, and the environment and society. and corporate governance (ESG) initiatives.
While one-fifth of global CIOs believe their IT budgets will increase by more than 10 percent over the next 12 months, a majority (59 percent) of respondents see budgets increasing by only 1 percent to 10 percent. To reduce potential risk, CIOs are highly focused on ensuring their technology stacks and teams become more agile and resilient (81%). Statistics show that in China, 90% of CIOs said that they have improved their resilience in the past two to three years. This also shows that, compared with other markets around the world, Chinese companies are more interested in solutions and tools to improve IT service resilience.
In order to further address risks such as budget cuts and increase the resilience of the technology stack, the report shows that the vast majority (92%) of CIOs are considering adding new "as-a-service" solutions to their technology stack in the next two years. By deploying an as-a-service solution, businesses can simplify and optimize processes, allowing IT leaders to focus on innovation and become more flexible in responding to the organization's changing needs.
71% of CIOs said that 11% to 50% of their organization's IT systems are based on "as-a-service" delivery. More than half of CIOs said that their organization's application of software as a service (SaaS), infrastructure as a service (IaaS) and data as a service (DaaS) has improved significantly or to some extent compared with last year. Compared with other markets in the world, China has a higher acceptance of "as a service" (aaS). In China, 82% of CIOs are using software as a service, and 76% are using infrastructure as a service and data as a service.
As artificial intelligence triggers the transformational development of various industries, AI opportunities and talent management have become two important issues for current CIOs. Artificial intelligence and machine learning (AI/ML) is a mainstream topic in IT and a driver of organizational innovation. CIOs want to be able to keep abreast of cutting-edge new technological developments. In China, more than 43% of CIOs believe that artificial intelligence and machine learning are "very important", and their importance is as important as data management and analysis (43%). But the vast majority (78%) of Chinese CIOs also say keeping up with technological changes is a daunting task.
On the people side, attracting and retaining talent is key to a company's success. Now that digital transformation of departments is included in the remit of global CIOs, they also need to deal with some people-related challenges, such as talent acquisition and retention (59%), managing remote workers (59%), and managing international teams (58%) %) and Diversity, Equity and Inclusion (55%).
Huang Jianheng said: "Artificial intelligence and other cutting-edge technologies have recently attracted attention, and talent management is also an eternal topic for enterprises. IT solution partners like Lenovo Group can help customers successfully break through. Lenovo can design and deliver solutions from hardware to edge to cloud. A variety of solutions, driven by artificial intelligence, help customers achieve operational excellence, improve organizational agility and innovation capabilities, fully stimulate the potential of existing technology stacks, and achieve business development goals."
To get the full second edition of the Lenovo Group 2023 Global CIO Research Report, visit TechToday .
About Lenovo
Lenovo Group (HKSE: 992) (ADR: LNVGY) is a global technology company with an annual revenue of US$62 billion, ranking 171st in the Fortune Global 500, with 77,000 employees around the world, serving 180 countries around the world Market to millions of customers. In order to realize the corporate vision of "smart, for every possibility", Lenovo has expanded into new growth areas including servers, storage, mobile phones, software, solutions and services on the basis of continuously consolidating its position as the champion in the global PC market. Promote new IT technology based on the "device-edge-cloud-network-intelligence" technical architecture. This transformation, together with Lenovo's world-changing innovations, together enables a more inclusive, trustworthy and intelligent future for people everywhere.