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times compared to 2023 but forecasts lower increases over the next two to five years. CIOs feeling the pressure will likely seek more pragmatic AI applications, platform simplifications, and risk management practices that have short-term benefits while becoming force multipliers to longer-term financial returns.
Dun and Bradstreet has been using AI and ML for years, and that includes gen AI, says Michael Manos, the companys CTO. In a November report by HR consultancy Randstad, based on a survey of 12,000 people and 3 million job profiles, demand for AI skills has increased five-fold between 2023 and 2024.
The 2024 Enterprise AI Readiness Radar report from Infosys , a digital services and consulting firm, found that only 2% of companies were fully prepared to implement AI at scale and that, despite the hype , AI is three to five years away from becoming a reality for most firms. Theyre foundational pieces that an organization has to get right.
At issue is the complexity and number of applications employees must learn, and switch between, to get their work done. With all whats happened in the last decade, it comes to hundreds of applications. It rarely ends well for either the business team, the ghost IT team, or the central technology organization, he adds.
She previously worked at Iron Mountain, where she was Executive Vice President and CTO. Earlier this year, CEO Chuck Robbins revamped Ciscos top management and promoted Centoni to EVP and chief customer experience officer. Johnson was named president and CEO of Lumen (formerly CenturyLink) in 2022.Saddled
Thats nearly twice the total of 2023 and significantly higher than the previous record, set in 2022, of $963 million. And some large, cutting-edge enterprises are already beginning to spend money on quantum technology. But while Citigroup waits for that to happen, its already experimenting with the technology thats available.
And on AWS, Amazon Bedrock Agents have been available since 2023, but in December, Amazon added multi-agent collaboration capabilities. Weve developed our own agentic AI for code management, says Charles Clancy, CTO at Mitre. Major enterprise software vendors are also getting into the agent game. followed a couple months later.
Welcome to 2023. As technology projects, budgets, and staffing grew over the past few years, the focus was on speed to market to maximize opportunity, says Troy Gibson, CIO services leader at business and IT advisory firm Centric Consulting. This is no longer true. “As How well teams execute will be key.”
Peak demand for developers from early 2019 to early 2020 was driven in part by hype cycles catered to their strengths, as many companies gobbled up programmers to work on applications in support of clouding computing, mobile, and IoT strategies. Demand for developers is simply growing at a slower rate than other IT roles.
But the entire process will need to be reinvented in order to make full use of the technology, says Monteiro. Theres too much attention on AI for code development, which is actually just a fraction of the whole software development process. We have to look at how we interact with colleagues and how we interact with AI, he adds.
million in 2023, and is expected to grow by 5% in 2025, equal to 3.75 Case in point was the high turnover rate at road and highway maintenance company AVR Group, and the solutions enacted by its CTO Pierangelo Perdomi to remedy it. This helps us screen about applications 5,000 per hour. million compared to about 3.6
The need to grow smartly Gil Westrich’s company, ClearML, is benefiting from increased adoption of artificial intelligence and machine learning (ML) technology. But the CTO and co-founder says that scaling to meet that demand presents its own challenges, which require self-reflection. How do we grow our business responsibly?”
Yet, as appealing as it is for employees to be able to use modern technologies, decommissioning and replacing systems is arduous for IT. Its a very long and painful process, notes Don Henderson, CTO at BetaNXT, a wealth management company that provides tech services to clients. across Ulta Beautys 1,400-plus stores, Maresca says.
Chieftechnologyofficers are key players in the enterprise C-suite, oftentimes working in collaboration with CIOs at the forefront of new and innovative technologies. They are among the most important hires organizations are making today due to the business value that successful technology deployments can bring.
If 2023 was the year of experimentation with gen AI, 2024 was when companies zeroed in on use cases and started putting pilot projects into production. In a survey of 2,300 IT decision makers that IBM released in December, 47% say theyre already seeing ROI from their AI investments, and 33% say theyre breaking even on AI.
Steve Ross, director of cybersecurity for the Americas at S-RM Intelligence and Risk Consulting, says gen AI can reduce a day’s worth of research to a single hour, but not without a catch. “It We’re seeing that the most productivity increases and ROI from generative AI come from highly targeted, industry-specific applications,” he says.
An overwhelming 94% of organizations worldwide are embracing a next-generation ERP strategy that involves migrating to cloud platforms and adopting high-end analytics such as artificial intelligence to overcome the limitations of legacy applications and modernize their businesses, according to a survey of 1,675 IT executives by Boomi. .
Singapore’s data centers have a 1% vacancy rate, and data center availability in the huge northern Virgina data center hub stands at 0.9%, despite an 18% increase in capacity between early 2023 and early 2024, according to the report. The 2023 CBRE report found that 83% of the data center capacity under construction at the time was presold.
Last year Overland won a two-year contract worth up to $18.6 Army and Defense Innovation Unit to develop its OverDrive technology platform for the U.S. Speaking at the GeekWire Summit in 2023, Boots recounted how the roots of self-driving technology started with military-related applications. and compute.
In April of 2023, Censuswide conducted a survey of 608 US respondents from companies with $250m+ revenue. That study focused on CIO and CTO satisfaction with their existing IT support and services models for enterprise software. CIOs and CTOs are frustrated at the many inconveniences of managing multiple vendors.
Cloud exit’ became a big theme in 2023 and there’s good odds it’ll turn into a real trend for 2024. The savings are just too big to ignore for a ton of companies,” says David Heinemeier Hansson, the Danish developer of Ruby on Rails and co-owner and CTO of 37signals, which completed a six-month total exit from the cloud last June.
If anything, 2023 has proved to be a year of reckoning for businesses, and IT leaders in particular, as they attempt to come to grips with the disruptive potential of this technology — just as debates over the best path forward for AI have accelerated and regulatory uncertainty has cast a longer shadow over its outlook in the wake of these events.
According to its 2023 research paper Total Enterprise Reinvention , “only 8% of companies are moving to adopt a strategy of Total Enterprise Reinvention.” One way they’re doing that is by reimagining the IT function, say management consultants, executive advisors, and CIOs themselves.
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 roll out AI applications and AI-enabled smartphones and devices, IT leaders may need to sell the benefits to employees or risk those investments falling short of business expectations. Employee training on AI is essential, says Sam Ferrise, CTO at Trinetix, a tech consulting firm.
Some videoconferencing applications now generate transcriptions and summaries, as do standalone tools such as Otter.ai. Digital assistants can also be specialized for specific needs, says Nick Rioux, co-founder and CTO of Labviva, provider of an AI-assisted purchasing solution.
We’ve had a homegrown customer data environment for decades,” says Paul Gaffney, CTO and supply chain officer at the $19.4 Gartner analyst Erick Brethenoux says use of consultant data and ML models is gaining steam, especially among retailers. We now have a matrix that’s about 1,500 cells instead of just 35,” the CTO says.
Srini Koushik has been passionate about the environment for 35 years and now, as a board member of the nonprofit SustainableIT.org and CTO of cloud services provider Rackspace Technology, he wants to help enterprises achieve sustainability in the cloud. By choosing them, enterprises are almost adopting net zero by proxy,” Koushik says.
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. The year 2023 seems to be no different. on average for 2023, research firm Gartner points to a projected 6.5%
We experienced the impact of one of our SaaS providers, OpCon, not having a solid DR [disaster recovery] plan during the MS Azure Central Region outage,” says Gary Jeter, CTO of TruStone Financial. A general principal of SaaS applications is the shared data responsibility.” This happened the same evening as the CrowdStrike incident.”
Jim Loter, a longtime tech leader inside the city of Seattle, currently serves as interim chieftechnologyofficer. Everything from acquisitions and procurement to operational management to IT projects to application development is all done in our department. Conference of Mayors in Columbus, Ohio.
The economy may be looking uncertain, but technology continues to drive the business and CIOs are investing big in 2023. At the same time, they are defunding technologies that no longer contribute to business strategy or growth. And it’s not just applications development where such tools are having an impact.
Upskilling takes time, and contracted workers aren’t usually as close to the business as employees. According to The State of the CIO Survey,24% of CIOs view “reinventing infrastructure/applications to meet new requirements” as a challenge holding IT back. for this year, resulting in a net gain of more than 300,000 new jobs.
“With a focus on automation for customer service and telesales functions, we’re looking at intelligent automation solutions that can help improve customer engagement and self-help capabilities,” says Chris Pendergast, the company’s SVP and CTO.
The changes will take effect with the 2023 release of software, which is now generally available. The biggest remaining difference in capabilities between the two platforms is around service management, enabling companies to track and bill for things like subscriptions or contracts for service or maintenance. “We
It laid off more than 1,000 employees in October 2023. Kunal Anand, F5’s chief innovation officer. (F5 F5 Photo) — Kunal Anand of F5 is changing roles, moving from chieftechnologyofficer to chief innovation officer.
We expect to add another six regions in fiscal 2023 in addition to the 38 cloud regions across 20 countries that we have already serving our customers,” Catz said, according to a transcript from Seeking Alpha. Total cloud revenue ( IaaS plus SaaS) for the company stood at $2.9 Cerner forecast to be a major business for Oracle.
The resulting redefinition of their role is influencing their priorities as they prepare for the 2023 financial year. We ensure that we build cybersecurity and data security into every aspect of the application infrastructure solution that we are delivering,” she says. Her colleague, CTO Rajaneesh R Kini, agrees.
Any data that the company can access can also be demanded via legal discovery in litigation, pointed out Rebecca George, the managing director of AI consulting firm Slalom. Morgan Stanley needs to have a strategy in place,” and to discuss it publicly, said HP Newquist, the executive director of AI consulting firm The Relayer Group.
Companies in Europe are required to start scope 3 reporting in 2024 with data from 2023, so collecting that data starts now. With each new generation of the sophisticated applications companies have come to depend on—applications, such as machine learning and data analytics—compute requirements soar to new heights.
A question of time Thomas Kiessling, CTO with Siemens Smart Infrastructure, part of the German engineering and technology conglomerate that makes trains, electrical equipment, traffic control systems, and more, understands that time is running out. As with most business challenges, data is instrumental.
For example, it highlighted a 153% rise in global ransomware attacks from September 2022 to September 2023. To top it off, Taylor says many CIOs report having CEOs, C-suite colleagues, and workers throughout their organizations clamoring for the technology and even launching their own pet projects using the tech, further upping the stress.
“While computing power and hardware costs are lower on the cloud, your approach may not allow you to enjoy these savings,” explains Neal Sample, consultant and former CIO of Northwestern Mutual. A good elastic app doesn’t happen magically,” says Sample. “It It needs to be written native for AWS or for another platform.”
increase in IT spending overall in 2024, compared to 4% in 2023, software spending growth suggests CIOs need to adjust their budgets downward elsewhere. Investment mode for some SnapLogic, an integration-platform-as-a-service provider, is among the companies expecting to bump up its IT budget, says Jeremiah Stone, CTO at the company.
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