CIOs Prioritize New Technologies Over Tech Stack Optimization
Help Net Security, Thursday, June 8,2023
Despite economic headwinds and IT budget challenges, the world's CIOs are bullish about the power of technology to deliver value for their organizations, according to Lenovo.
Innovation investment concerns among CIOs
Despite their optimism, the risks are real, as 83% are concerned that there will be insufficient budgets to properly invest in innovation and digital transformation, and 48% say they are 'extremely' or 'very' concerned.
48% of CIOs are more likely to prioritize innovation in new technologies over optimizing their current tech stack. The stakes are high, with 60% of CIOs reporting that a freeze in investment to innovation would impact their business at once or within weeks across business automation, business model transformation, data analytics and environment, social, and governance initiatives.