Top 10 IT Priorities & Trends to Follow in 2023

2023 is almost a month old, and much has been happening in the IT industry. With layoffs, hiring freezes, and other upheavals, those in the upper echelons of organizations have their work cut out for them, particularly CIOs.

In times of increasing unpredictability and the looming recession, CIOs have a long to-do list as they seek to maximize IT efficiency and productivity. Companies must also intensify their efforts to offer practical solutions and gain more customers.

Yes, being a CIO in 2023 requires a balancing act to fulfill two equally-pressing needs:

• Enhancing competitiveness.
• Cutting costs.

Fortunately, CIOs are lucky to have two equally powerful solutions, cloud computing and tech stack consolidation, to fulfill these requirements and gain efficiency. Under the current circumstances, migrating to the cloud is a sensible decision because it helps:

• Shift most of the core business applications to a safer location.
• Open doors to new analytics opportunities.
• Provide enhanced insight into organizational details.

These efforts, however, will not be enough. CMIT Solutions, providers of virtual CIO services at Roanoke, say that to effectively respond to old and new challenges, CIOs must realign their strategies in tandem with the latest IT trends. There really is no point in lagging and holding on to outdated strategies.

Going forward, CIOs must embrace ten key IT trends and priorities, which we’ve listed below.

Whether you are the CIO of a minor or well-established company, you need to:

1. Adopt a single technology strategy

Traditionally, large global enterprises have been able to keep their own technology stacks when acquiring companies and having multiple lines of business. But all that is set to change in 2023. If CIOs are serious about enhancing the company’s business performance, they will have to consolidate these tech stacks to ascertain which technology will be the most preferred. They must choose from:

• CRM tools
• Business Intelligence platforms
• ERP and cloud environments

Additionally, they will also have to consider integrating traditional and inherited technologies along with these fundamental ones.

2. Build resiliency with technology

Resiliency? Well, why not? Organizations need to be resilient with the ongoing layoffs and the impending recession. The solution to building resiliency is none other than technology because it is deeply rooted in every aspect of the organization.

One of the current challenges is the chronic shortage of professionals in IT avenues like:

• Cybersecurity
• Artificial Intelligence
• Machine learning

With a skilled IT team at their disposal, CIOs can empower other employees to have a satisfactory and superior work experience amidst a challenging environment.

3. Gear up for next-generation technology

Is your organization well-prepared to adopt next-gen tech miracles like Metaverse, Web 3.0, Internet of Things, and Advanced Analytics? As a CIO, you are responsible for setting the stage for adopting these next-gen tech solutions. In doing so, you must also consider two more aspects:

• The cost-cutting potential of the next-gen technologies.
• Offering better customer experiences using the monetization opportunities.

However, it can be challenging to strike a balance between these two things. To maximize impact, the enterprise’s resources should be devoted to integrating all these technology initiatives and implementing them seamlessly.

4. Ensure business intimacy & alignment

A relevant new term, “ business intimacy,” enhances a CIO’s capacity to deliver business value by improving their relevance. This is made possible by understanding the various aspects their staff is dealing with, like:

• Work-related priorities and pain points
• Work processes
• Investments and technologies

The use of automation and artificial intelligence tools can improve business alignment and productivity in any economic environment. However, they are especially important as CIOs help guide their enterprises through challenging times.

5. Embrace agility in digital transformation

Digital transformation is out, and agility is in. Of late, the hype surrounding digital transformation has dissipated as CIOs realize that it is only a mindset and not an ultimate solution. CIOs know they must bring the digital transformation mindset to their organizations because driving change and fostering culture ranks higher on the list. However, agility is indispensable in leveraging a CIO’s experience to implement agile methodologies throughout the business.

6. Defend your finances

Money is dearer than ever before, thanks to the unwavering economic situation.

Finance is coming for parts of your budget. Defending it is the key to keeping it. There is no better time to strengthen reporting on success and value. CIOs can deploy two solutions:

• Reanalyze your accounts to ascertain your IT expenses and returns.
• Tell the right story because IT professionals have a notorious misconception that data about technology’s impact is private and unobservable.

7. Leverage AI & Predictive Analytics

Artificial Intelligence is traveling at lightning speed to be at the forefront of technology, and so is Predictive analysis. A greater focus will be placed on partnering with technology teams to put actionable insights into the hands of all employees in 2023. Moreover, more organizations will prioritize data governance as AI processes enormous amounts of data. CIOs can use their change management skills to help their colleagues understand what data-driven means and how it impacts decision-making.

8. Transform data into products

As companies become more aware of where their data comes from, they are entrusting their own data teams to create their own data products. The IT department will be free to allow each business unit to manage its own data instead of actively managing it.

9. Upgrade your cyber defenses

It is not surprising that cybercriminals are improving their heinous tactics to steal, misuse, and hold data for ransom as technology advances. The continuing rise in ransomware attacks, in particular, will likely drive more organizations to increase their security measures. New tactics like continuous penetration testing will help organizations identify and resolve issues in real-time. And let’s not forget what AI and Machine Learning can do to fortify an organization’s defense tactics. CIOs can leverage AI to enhance cyber security by:

• Detecting abnormal patterns
• Capturing accurate responses
• Solving the cybersecurity issue without delay

10. Say yes to sustainability

In the wake of the next recession, there may be a more profound need for sustainability. It is likely that some Environmental, Social, and Governance (ESG) will influence business decision-making in the future. Therefore, designing for sustainability based on budgets and data will be indispensable. If organizations work diligently, they can also measure the social impact of their investments. IT will deliver on its governance commitments if data governance policies are implemented and managed precisely.

It will take even greater foresight for CIOs to lead their organizations into 2023 while addressing their current needs, prioritizing these trends, AND managing their daily routines. A lot rides on how well CIOs can become omnipresent and omnipotent to influence cultural engagement amongst employees.