New research has highlighted the impact and pressures CIOs are experiencing in trying to manage the artificial intelligence (AI) ambitions of corporate businesses.
The IDC research was commissioned by managed network solutions provider Expereo, revealed that technology leaders from large global enterprises are feeling the pressure, as AI becomes a major force of innovation and disruption.
According to the latest IDC/Expereo research, CIOs are stressed and anxious but excited about the opportunities of AI, but are recognising that the technology is boosting their reputation at a board level, which can be a double edged sword.
The research into 650 global technology leader’s from the worlds largest companies revealed that 64 percent of global respondents find it challenging and/or stressful to meet the technology demands of the business, and that AI is a key source of both pressure and opportunity.
Indeed, the research highlighted that whilst 60 percent of global respondents say their focus on AI has boosted their personal reputation, 47 percent also say their board has unrealistic demands regarding the impact of AI on international business performance and 39 percent felt their job is more stressful or negative because of their added profile.
The research cast a light into how AI can raised the profile and expectations of technology leaders at board level, creating even more pressure for IT departments and CIOs.
The perceived impact of AI on the workforce, both within and outside of IT, could be partly causing this ‘AI-anxiety’, the report suggested.
While the emergence of a Chief AI Officer (CAIO) role could bring businesses new opportunities, 40 percent of technology leaders say a CAIO role will take over much of the CIO’s responsibilities within two years, and 38 percent of them are worried that AI could replace their or their team’s role.
Moreover, 46 percent of global respondents believe increased automation will also result in some roles outside of IT being displaced.
AI innovation
Despite these challenges, tech executives are also excited about the pace of technology innovation.
Indeed, the IDC/Expereo survey found that 68 percent of global respondents say this is the most exciting time to be a technology leader, and 71 percent of them are confident that they or their team can support growth and efficiency gains through their current technology strategy.
The survey also shows that technology leaders are expected to contribute to various aspects of the business, such as growth, risk management, and IT modernisation, but their role will become even more demanding in the next two years, as they will have to orchestrate digital transformation and generate digital revenue. For example, only 7 percent of global respondents say they have to demonstrate RoI to the board to justify budget increases today, but this number will increase to 12 percent in two years’ time.
“Technology leaders are at the forefront of driving innovation and transformation in their organisations, but they also face significant challenges and pressures from the business and the board,” said Ben Elms, CEO of Expereo.
Ben Elms, chief revenue officer at Expereo. Image credit Expereo.
“It’s vital that CIOs align with their CEOs to ensure they are given the proper support by their stakeholders, teams and their external partners, to help them make the most of a challenging but exciting technology landscape.”
A second AI Safety Summit took place in South Korea in May 2024, where 16 companies at the forefront of developing AI pledged to develop the technology safely.