CIOs Prioritize Innovation Over Tech Stack Optimization
HelpNet Security, Wednesday, July 12,2023
Despite economic obstacles and constraints on IT budgets, global CIOs maintain a positive outlook on the potential of technology to provide significant benefits for their organizations, according to Lenovo.
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.
Prioritizing innovation
48% of CIOs are also 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. Adding to this, 33% of CIOs do not feel their organization is sufficiently resilient.