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For instance, CIOs in industries like financial services need to monitor how competitors leverage AI for fraud detection or offer personalized services to inform their IT strategies. Adopting agile methodologies for flexibility and adaptation The Greek philosopher Heraclitus famously stated, “Change is the only constant.”
The shift to a digital business environment in financial services began well before the pandemic pushed it and other sectors to more rapidly embrace digital transformation. As customers have become increasingly digitally savvy, they demand that financial services firms be more responsive to their needs.
Past shifts to agile methodologies helped as teams now had a product owne r to prioritize backlogs and adopted agile principles that empowered them to commit to a realistic amount of work. But many enterprises stopped their agile transformations at this layer.
In the State of Enterprise Architecture 2023 , only 26% of respondents fully agreed that their enterprise architecture practice delivered strategic benefits, including improved agility, innovation opportunities, improved customer experiences, and faster time to market.
Discover how these strategies can boost your enterprise's financial health, helping not only to keep up but to excel in today's market. What’s Inside: Different cost improvement initiatives The importance of employee empowerment How to achieve agility and adaptability
Speed and agility bring in the top transformation prize. Go all-in with agile Another way to ensure IT can quickly deliver transformative results is to go all-in with modern approaches, starting with a full embrace of agile development. The 2024 State of Agile report from Digital.ai
As the study’s authors explain, these results underline a clear trend toward more personalized services, data-driven decision-making, and agile processes. AI as differentiator According to the study’s authors, banks that are strategically positioned in AI and agility can achieve transformative growth and efficiency.
This alignment ensures that technology investments and projects directly contribute to achieving business goals, such as market expansion, product innovation, customer satisfaction, operational efficiency, and financial performance. By staying ahead of market trends, the organization remains agile, adaptable, and ready to outperform rivals.
By Michael Cullum, VP of Engineering at Bud Financial Generative AI (genAI) is a powerful tool that is transforming the financial industry and empowers financial services professionals. GenAI is not just transforming financial services; it’s also inspiring banks to harness the full potential of their transaction data.
As a result, many organizations are seeking new ways to overcome challenges — to be agile and rapidly respond to constant change. We do not know what the future holds.
Pre-COVID, agility became an aspiration and rallying cry for organizations seeking to embrace emerging technologies and pursue technology-enabled innovation, often to stave off digital disruption in their industries. This goes beyond implementing agile methodology. Balance control with agility. Think a step ahead.
Many IT teams use agile methodologies to iteratively deliver feature-rich releases, improve capabilities, address technical debt, and experiment with emerging technologies. I recently moderated Adaptavist’s “Agile Back to Basics” roundtable, which included three authors of the Agile Manifesto.
Chief information officers have been charged with driving financial, security, and agility benefits through cloud, but sustainability is quickly becoming another imperative for technology leaders.
Five Tips for CIOs to emerge as Financial Strategists Sangeeta Shankaran Sumesh, CFO turned business and leadership coach shares on how CIOs and tech leaders should become financial strategists as they transform into integral business advisors beyond technologists. Any solution or product comes with an expiration date.
Technology leaders in the financial services sector constantly struggle with the daily challenges of balancing cost, performance, and security the constant demand for high availability means that even a minor system outage could lead to significant financial and reputational losses. Time to market. Developer productivity.
The bad news, however, is that IT system modernization requires significant financial and time investments. Ensure that your plan supports one or more of your organization’s key business strategy goals, such as improving agility, reducing costs, boosting security, or enhancing customer experience.”
Future Fit Organizations are Adaptive Covid-19 has accelerated the need for enterprises to adapt to rapidly changing market conditions. Satya Nadella in April 2020 told thousands of developers at the online Microsoft Build conference “we’ve seen companies do in 2 months what they normally would do in years…”.
Pursue cryptographic agility Once companies have figured out which assets and communications they need to protect first, how do they actually go about switching to quantum-safe cryptography? Instead, Horvath and other experts recommend that enterprises pursue quantum agility. It seems easy to do but its actually catastrophic.
Technology investments, such as in generative AI, are a priority in addressing the need to meet rising expectations while also driving operational agility and resilience. Agility and innovation are no longer competitive advantages theyre necessities, Barnett states.
“Regardless of where they are on their AI journey, organizations need to be preparing existing data centers and cloud strategies for changing requirements, and have a plan for how to adopt AI, with agility and resilience, as strategies evolve,” said Jeetu Patel, chief product officer at Cisco.
Information relating to the financial conditions of the termination of functions of Peter Herweck and appointment of Olivier Blum will be made public according to the applicable regulation and to the recommendations of the corporate governance code AFEP-MEDEF to which Schneider Electric is referring,” the statement added.
In a world where companies are defined by the digital services they can deliver, software agility IS business agility, and in turn results in better business outcomes. The complexity of today’s digital systems has multiple points of friction that need to be addressed if we are to achieve true business agility.
The idea was coined by legendary programmer Ward Cunningham, one of the authors of the Agile Manifesto, and he laid it out succinctly at the OOPSLA conference in 1992 : Shipping first-time code is like going into debt. And, extending our metaphor, there are different ways to deal with technical debt, just as there are with financial debt.
IT leaders had to learn to show a return on investment on everything they do and drive meaningful business outcomes, says Sathish Muthukrishnan, chief information and digital officer with Ally Financial. But Downing, vice president and CIO of enterprise business solutions at Principal Financial Group, knows others dont feel that way.
The financial services sector is undergoing rapid change as fintechs develop convenient, consumer-focused services that were once the province of traditional banks. What are the greatest challenges that financial services firms face with their digital transformation initiatives?
In todays fast-paced digital landscape, the cloud has emerged as a cornerstone of modern business infrastructure, offering unparalleled scalability, agility, and cost-efficiency. As organizations increasingly migrate to the cloud, however, CIOs face the daunting challenge of navigating a complex and rapidly evolving cloud ecosystem.
Insight When they consider the motivations of their counterpart, leaders can help each other enhance both organizational resilience and agility. This viewpoint can clash with CFO priorities, which are more driven by financial discipline. Meanwhile, CIOs use business cases to determine the ROI of individual projects.
What CIOs can do: Avoid and reduce data debt by incorporating data governance and analytics responsibilities in agile data teams , implementing data observability , and developing data quality metrics. For this reason, organizations with significant data debt may find pursuing many gen AI opportunities more challenging and risky.
That means exploring the strategic options for cloud adoption, understanding the importance of financial operations (FinOps) as it relates to cloud, the difference between a Cloud Center of Excellence (CCOE) versus a Cloud Business Office (CBO) approach and the debate between centralized and federated FinOps. Optimization and rightsizing.
AI use cases are growing , says IBM, which counts more than 250 for IBM Z including financial fraud detection, medical image analysis, and credit risk scoring. IBM will also add a new version of its watson X Code Assistant for Z to help developers modernize mainframe applications. Watson X is IBMs AI development studio and platform.
Together, they help organizations meet data security and infrastructure scalability challenges, ensure compliance, maintain agility, innovate faster, and maintain a strong competitive position in a rapidly evolving market. Check out this webinar to get the most from your cloud analytics migration.
This offering fits the OpEx model, so it is financially strategic while enabling enterprises to be more agile and innovative in their approaches to cybersecurity,” Shah wrote. “FGaaS introduces a more flexible form factor to our family of FortiGate Next-Generation Firewalls (NGFWs).
Concerning cyberthreats The past few years have seen an explosion in the number of cyberattacks, leaving businesses facing financial losses and significant damage to their brand reputations. In a time when cyberthreats are growing in complexity and agility, AIs capacity for real-time surveillance and swift reaction is invaluable.
An Agile and product management mindset is also necessary to foster an experimentation approach, and to move away from the desire to control data. This is why Agile and product mindset matter. When transforming, its difficult to put hard value-improvement metrics in moving from Waterfall to Agile. Thats a critical piece.
Without robust governance, they risk deploying AI that could erode public trust, cause reputational damage or financial penalties, and result in security vulnerabilities and cyberattacks. In highly regulated industries such as financial services and healthcare, the stakes are even higher.
These outdated systems are not only costly to maintain but also hinder the integration of new technologies, agility, and business value delivery. For example, a financial services firm adopted a zero trust security model to ensure that every access request is authenticated and authorized.
Data is the foundation of innovation, agility and competitive advantage in todays digital economy. When financial data is inconsistent, reporting becomes unreliable. In financial services, mismatched definitions of active account or incomplete know-your-customers (KYC) data can distort risk models and stall customer onboarding.
One possible solution is to embrace the agile methodology of software development. Agile calls for collaboration among cross-functional teams as well as end users, and promotes adaptive planning, evolutionary development, continual improvement, flexibility in responding to changes in requirements and early delivery of products.
On top of that, IT teams have adopted DevOps, agile and SRE practices that drive much greater frequency of change into IT systems and landscapes. Because of the adoption of containers, microservices architectures, and CI/CD pipelines, these environments are increasingly complex and noisy.
Companies expect a lot from their CIOs: integral knowledge of the business, visible financial results, and agility, as well as the ability to manage change, actively collaborate with business leaders, and explain IT in plain English. The CIO should be able to converse on any company financial topic with the CFO and the CEO.
With cybersecurity now fundamental to business operations, it must be considered alongside financial, operational, and reputational risk planning to ensure continuity in the face of disruptions. The importance of integrating cyber resilience into a broader organizational resilience strategy cannot be overstated.
These advancements promise to increase accuracy and reduce costs, particularly in regulated industries like financial services, insurance, and life sciences. By 2025, generative AI will drive significant business value, focusing on practical, less glamorous use cases like document processing, intelligent automation, and AI agents.
I was thinking about how to combine agile development with a capability focus, and thats when I started to hear about product management as a discipline and realized it was exactly what we needed. When we first implemented it at Modivcare, we tried to integrate our financial management processes immediately.
Digging through research examining the impact of standard conventions like siloed teams and staged gate processes, Arooni began percolating ideas for how to shift IT organizations away from the traditional project-oriented culture to something more agile, with greater business accountability and more responsiveness to changing customer needs. “We
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