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IT leaders developing IT strategies commonly cite routine task automation and content simplification as two of their top priorities. Research by Foundry showed that improving employee productivity was the most cited business objective driving AI investments (48%). [1] Productivity is one of the key benefits enterprises expect from AI.
Here, we explore the key factors impeding IT modernization and provide recommendations to overcome them (with real-world illustrations of strategies). For instance, Capital One successfully transitioned from mainframe systems to a cloud-first strategy by gradually migrating critical applications to Amazon Web Services (AWS).
When your CEO or CFO asks about the budget needed for technical debt remediation , do you find yourself struggling to justify the investment? Our research shows 52% of organizations are increasing AI investments through 2025 even though, along with enterprise applications, AI is the primary contributor to tech debt. You’re not alone.
When addressed properly , application and platform modernization drives immense value and positions organizations ahead of their competition, says Anindeep Kar, a consultant with technology research and advisory firm ISG. A first step, Rasmussen says, is ensuring that existing tools are delivering maximum value.
As AI technologies evolve, organizations can utilize frameworks to measure short-term ROI from AI initiatives against key performance indicators (KPIs) linked to business objectives, says Soumendra Mohanty, chief strategy officer at data science and AI solutions provider Tredence.
Enterprises in Germany, Austria, and Switzerland are accelerating their transition to cloud-based ERP solutions, with SAP playing a key role in their digital transformation strategies. However, there is a notable decline in organizations maintaining a stable SAP budget, with only 23% keeping spending unchanged compared to 32% in 2024.
Here, veteran CIOs, researchers, and advisers share the changes theyre seeing, offering a look at the new rules of IT leadership along with the old ones theyve replaced. In recent years theyve increasingly adopted the partner label, says Quintin McGrath, executive director of the Society for Information Management (SIM) Research Institute.
research firm Vanson Bourne to survey 650 global IT, DevOps, and Platform Engineering decision-makers on their enterprise AI strategy. AI a primary driver in IT modernization and data mobility AI’s demand for data requires businesses to have a secure and accessible data strategy. Nutanix commissioned U.K.
An early trend seems to be the SaaS model, with a per-conversation model emerging for infrequent users, says Ritu Jyoti, general manager and group vice president for AI, automation, data and analytics research at IDC. It all sounds good, but the challenge is that people get annual budgets and cannot tolerate variability, he says.
A report issued Monday by private investment company Bain Capital indicated that, despite the numerous disruptions to the technology industry—including a global supply chain crisis and Russia’s invasion of Ukraine—most IT decision makers foresee either stable budgets or increases for the coming year. Budgeting, IT Strategy
More than 90% of IT leaders, in fact, expected their 2025 budgets to increase when surveyed in 2024. Cost transparency and accurate budget forecasting are two major parts of the TBM framework, Guarini says. The US Office of Management and Budget has also pushed agencies to use TBM practices since 2017.
CIOs have been able to ride the AI hype cycle to bolster investment in their gen AI strategies, but the AI honeymoon may soon be over, as Gartner recently placed gen AI at the peak of inflated expectations , with the trough of disillusionment not far behind. That doesnt mean investments will dry up overnight.
A new year is quickly approaching, which brings new resolutions — and new budgets. She said companies can “make the most of that” by doing some industry-related research now that can be adapted after the new year for long-form site content and social media campaigns. Lindsay Goldman , strategic advisor, MO Pros.
Forrester Research this week unleashed a slate of predictions for 2025. Noting that companies pursued bold experiments in 2024 driven by generative AI and other emerging technologies, the research and advisory firm predicts a pivot to realizing value. Others won’t — and will come up against the limits of quick fixes.”
This strategy results in more robust, versatile, and efficient applications that better serve diverse user needs and business objectives. We then explore strategies for implementing effective multi-LLM routing in these applications, discussing the key factors that influence the selection and implementation of such strategies.
Amy Loomis, an IDC research VP, is more circumspect about predicting what IT hiring in 2025 will look like due to differences across various verticals. “I Gina Smith, an IDC research director, said CIOs will have to balance hiring people with the needed skills versus training current talent in new domains. “I
Best practices for leveraging artificial intelligence and machine learning in 2023 Zero-based budgeting: A proven framework for extending runway Image Credits: Getty Images It’s critical to make every dollar count in this environment, but pulling back too much in the wrong places can reduce momentum across your entire organization.
One data point presented at the event showed that 62% of business leaders from large organizations expressed confidence in their growth prospects (Capgemini Research Institute). For CIOs, the message was clear: Efficiency, future-ready technology, and innovative workforce strategies are essential. and Europe.
IT leaders seeking to drive enterprise growth through technology investments are often saddled with budgets that make their tasks of increasing the top and bottom lines challenging. Despite an estimated increase to IT budgets of 5.1% on average for 2023, research firm Gartner points to a projected 6.5%
Plus, according to a recent survey of 2,500 senior leaders of global enterprises conducted by Google Cloud and National Research Group, 34% say theyre already seeing ROI for individual productivity gen AI use cases, and 33% expect to see ROI within the next year. The personal research assistant is only for Verizon employees, says Higgins.
I am a key member of the council responsible for formulating the companys business strategy and setting goals, followed by developing 1-year, 3-year, and 5-year plans. Nikhil Prabhakar has some tried and tested business strategies up his sleeve, like cross-functional teams and shared KPIs.
Following are ways CIOs can help overcome disconnect in the C-suite on the evolving nature of their role in an effort to better enable support for their digital strategies. The dialogue with the board and with human resources is fruitful, and the managers are receptive, which greatly facilitates the digital strategy.”
As a result, we embarked on this journey to create a cohesive enterprise data strategy. Initially, I worked as a researcher in academia, specializing in data analysis. This led to a long tenure in central government in New Zealand as a policy researcher.
To be sure, enterprise cloud budgets continue to increase, with IT decision-makers reporting that 31% of their overall technology budget will go toward cloud computing and two-thirds expecting their cloud budget to increase in the next 12 months, according to the Foundry Cloud Computing Study 2023.
As organizations worldwide prepare to spend over $40 billion in core IT (technology budgeted and overseen by central IT) on GenAI in 2024 (per IDC’s Worldwide Core IT Spending for GenAI Forecast, 2023-2027 , January 2024), there’s an urgent need to manage the risks associated with these investments. Contact us today to learn more.
Reflections from Climate Week 2024: Why workplace services deserve a bigger slice of sustainability budgets Alan Connolly 10 Oct 2024 Facebook Twitter Linkedin As sustainability budgets grow, many companies are making significant investments in decarbonization, renewable energy, and broader environmental initiatives.
Research firm IDC projects worldwide spending on technology to support AI strategies will reach $337 billion in 2025 — and more than double to $749 billion by 2028. For the global risk advisor and insurance broker that includes use cases for drafting emails and documents, coding, translation, and client research.
It’s one of our main user acquisition strategies where we want to double every Africans airtime and data,” Zhang said. The reason we can do that is via partnerships with these companies as we tokenize a part of their advertising budget and directly provide to the end-user,” he said.
Paul Beswick, CIO of Marsh McLennan, served as a general strategy consultant for most of his 23 years at the firm but was tapped in 2019 to relaunch the risk, insurance, and consulting services powerhouse’s global digital practice. But the CIO had several key objectives to meet before launching the transformation.
But succeeding in the cloud can be complex, and CIOs have continued to fumble their cloud strategies in 2022 in a variety of ways, industry observers say. We have continued to evolve our cloud strategy as we gain more insight into the leverage we can gain in engineering, resilience, scaling, security, and market testing.”
While launching a startup is difficult, successfully scaling requires an entirely different skillset, strategy framework, and operational systems. This guide explores essential frameworks, common pitfalls, and proven strategies to transform your promising venture into a market leader. What Does Scaling a Startup Really Mean?
Recent research found that application modernization took an average of 16 months. And with infrastructure and application modernization cited as key reasons for CIOs’ budget increases this year, according to the 2024 State of the CIO Survey, that pace is not fast enough.
During the 2008–2009 Global Financial Crisis (GFC) and subsequent recession, researchers noted that cybercrime rates increased dramatically. To keep ahead of cybercriminals, organizations must remain agile, pivoting to embrace new strategies and technologies whenever necessary in order to outrun attacks.
Research on creating a culture of high-performance teams suggests there’s a disconnect between how leaders perceive their cultures compared to how individual contributors view them. Top CIOs develop communication strategies and schedule regular dialogs with their teams.
When he’s not immersed in cybersecurity, hybrid cloud strategy, or app modernization, David Reis, CIO at the University of Miami Health System and the Miller School of Medicine, spends his time working with the board of directors and top leadership to reimagine healthcare and take the lead driving digital transformation.
Paul Beswick, CIO of Marsh McLellan, served as a general strategy consultant for most of his 23 years at the firm but was tapped in 2019 to relaunch the risk, insurance, and consulting services powerhouse’s global digital practice. But the CIO had several key objectives to meet before launching the transformation.
This time, it’s a pan-European announcement that mostly involves redirecting a small portion of Member States’ budgets toward European late-stage tech financing. With its €10 billion budget, the European Innovation Council has quite a bit of money under management. We think we’re at a tipping point in Europe.
growth in ICT budgets specific to Italy, mostly in line with recent trends. And yet for those who develop strategies and decide whether and where to provide funding, the lack of training precludes the possibility to develop new visions, he says. CIOs know this well, even when they increase their IT investments.
The complexity within IT infrastructures is increasing, as is the pressure on IT budgets to use available funds as smartly and efficiently as possible. This is a key finding of a survey commissioned by Boomi from Forrester Research. Effective cost management in the cloud is, therefore, becoming increasingly important.
Ceridian SVP and CIO Carrie Rasmussen got a 7% bump in her IT budget for 2022, with her company’s growth, its ongoing digitalization drive, and security mindfulness driving the boost. This comes after years of transformational initiatives being cited as the top reason driving budget increases. Top 10 business needs driving IT spend.
Brands are growing concerned about where to spend their main social media marketing budgets. Over 50% of social media marketing budgets are spent inefficiently because of poor creatives, mixed messaging, limited ad types and unfortunate ad captions. to register and list their services, which clients can book.
1) GenAI budgets are growing exponentially Adoption of GenAI varies significantly across roles and company sizes. Technical leaders are at the forefront, demonstrating higher adoption rates and driving budget increases. While 34% of all respondents reported a 10-50% budget increase for GenAI, 22% witnessed a 50-100% rise.
Leading this effort for Cedar Fair is CIO Ty Tastepe, who joined the company about two years ago and oversees its technology strategy, implementation, and operational support across all the company’s properties. We have yet to carve out a percentage of our budget to focus solely on generative AI.
Complexity Continues to Increase Complexity exhausts IT budgets and workers—a widespread problem that worsened during the pandemic. According to the study, most organizations have developed specific strategies to reduce IT complexity and create operational efficiency. 81% believe that reducing it creates a competitive advantage.
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