Four Digital Transformation trends CIOs should consider in 2023 | The Financial Express

Four Digital Transformation trends CIOs should consider in 2023

Digital Transformation has been at the helm of many industries’ survival, and for some, provided an opportunity to thrive in the industry.

digital transformation
as the investment in IT technology is expected to continue, their influence will only strengthen. (Photo credit: Reuters)

By Sushil Goyal

Digital Transformation has been at the helm of many industries’ survival, and for some, provided an opportunity to thrive in the industry. The momentum to accelerate digital transformation initiatives has been so strong that CIOs, who were only considered to look after the IT infrastructure, now wield an important role on the managing board. And as the investment in IT technology is expected to continue, their influence will only strengthen.

In fact, as per a Markets And Markets report, the global digital transformation market is expected to reach US $ 1,548.9 bn by 2027. With enterprises switching their attention to cloud platforms from on-premises and strengthening their cybersecurity infrastructure to counter growing cybersecurity threats, digital transformation will only be at the top in 2023 and beyond. However, the uncertainty in the economy, with huge layoffs across tech industries and supply chain risks, will require CIOs to rethink their digital transformation priorities.

They will need to create better strategies by leveraging actionable insights from data-driven technologies at their disposal. At the same time, being informed about the latest digital transformation trends will help them to increase their efficiency, risk, and cost savings.

Here are four digital transformation trends CIOs should consider in 2023 and beyond:

Integrate cybersecurity in every aspect of enterprise infrastructure

While enterprises focused on building their digital transformation strategies, they often failed to take the necessary security measures. For instance, enterprises across India significantly accelerated their digital transformation to support their remote and distributed workforce. But it also provided a gateway for threat actors to execute their malicious intent.

In fact, as per Akamai, India witnessed over 190 million cyber-attacks between December 2021 and February 2022 alone, making it the fifth country that was hit by the largest number of cyber-attacks. Additionally, with businesses increasing their reliance on SaaS platforms to broaden their technology stack, the potential for vulnerabilities is also increasing.

Before moving ahead with a digital transformation strategy, CIOs should have cybersecurity in every aspect of the technology infrastructure. They should collaborate with enterprises to build cybersecurity strategies that secure the confidential data of customers and employees. Conducting sessions on cybersecurity, doing regular security audits, and implementing zero-trust models are some of the few ways that enterprises can safeguard their infrastructure while also moving ahead with their digital transformation strategy.

Integrate open-source technologies within the IT infrastructure

As per a 2022 State of Open Source report, the #1 reason to use open source technologies is to get access to innovation. As innovation is at the core of digital transformation, incorporating open-source technologies is a way forward for CIOs to accelerate their digital transformation journey. However, leveraging open source is not straightforward.

One of the major barriers to its adoption is the lack of internal skills to test, use, integrate and support. In 2023, CIOs should focus on boosting the open-source skill sets of their employees. This will enable them to understand the nitty-gritty of such platforms while guiding them to create efficient workflows at an enterprise level. Moreover, enterprises can also reap its benefits such as enhanced collaboration, and enabling customization while also taking a step forward toward the democratization of technology.

Embracing AI and hyper-automation

Since enterprises started heavily relying on cloud platforms, the data volume has expanded. In fact, data volumes are increasing by 63% per month, in most enterprises. But, most of the data is unstructured, making it difficult for enterprises to extract needed insights to make informed decisions. Also, data efficiency is linked with advancements in Artificial Intelligence (AI) systems. In 2023, CIOs that still view AI through a fear-based lens, should change their approach and realize what they can accomplish by capitalizing on it. They should start harnessing AI’s power to hyper automate which will enable them to get rid of repetitive tasks without any requirement for human supervision.

Enhance employee’s overall experience

Remote and hybrid work has been instrumental in helping employees realize the importance of a positive work culture along with employee well-being. Enterprises that also witnessed its immense benefits realized that taking care of employees’ overall well-being starts with providing them with an enhanced employee experience.

CIOs should provide tools that reduce fatigue and ensure a positive and innovative employee experience. They should conduct surveys after a brief period to capture the overall employee satisfaction with the technologies they use daily.

Going forward, CIOs should define a crystal clear vision for the future of work in their respective organizations.

Achieve new milestones with digital transformation in 2023

Digital transformation initiatives have already proved their worth by helping enterprises to sustain their business operations during an uncertain period. Not only have they enabled companies to navigate the challenges of the pandemic and the ups and downs of an upheaval economy, but also provided them with a strong footprint to thrive. In 2023 and beyond, CIOs will need to double their digital transformation initiatives while also keeping the challenges of the geopolitical and enterprise landscapes in mind. They will need to emphasize on creating a roadmap to help organizations to seamlessly execute their projects.

The author is Co-Founder & COO at Rahi.

Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 07-02-2023 at 16:31 IST