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Capitalizing on technology budgets: A CIO’s story

CIO Business Intelligence

While traditional approaches to bridging the profitability gap, like layoffs and budget cuts, can harm company culture, an innovative and practical alternative is capitalizing on technology budgets. However, it’s important to remember that headcount and budget cuts are not the only strategies to streamline costs.

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The Hidden Costs of AI Implementation: What No One Tells You

Eric D. Brown

The remaining 70% comprises hidden costs that rarely make it into initial budgets or project proposals. I recently talked to the CEO of a mid-sized manufacturing company that budgeted $500,000 for an AI-driven quality control system. The cost of a data breach isn’t just financial – it can devastate your reputation.

Budget 130
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Overcoming the 6 barriers to IT modernization

CIO Business Intelligence

Budget constraints Barrier: IT modernization requires substantial investment, and budget constraints are a common hurdle. Solution: To address budget constraints, organizations should adopt a strategic approach to funding IT modernization.

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Fountainhead: Predictions: What You WON'T See in IT For 2012

Fountainhead

And I hope that change-management and organizational design models will mature to the level of technology models so that "turn-key" process change and skill development will accompany the product sale. Financial chargeback (and showback) have been discussed for years, and are being implemented in greater numbers lately.

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7 signs it’s time to modernize your IT systems

CIO Business Intelligence

The bad news, however, is that IT system modernization requires significant financial and time investments. You usually can’t move the needle on everything while working within typical budgets, so instead focus on moving the needle on the one or two things that really make the most difference,” Rasmussen advises.

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5 tips for better business value from gen AI

CIO Business Intelligence

According to AI at Wartons report on navigating gen AIs early years, 72% of enterprises predict gen AI budget growth over the next 12 months but slower increases over the next two to five years. But if all gen AI does is improve productivity, CIOs may be challenged long term to justify budget increases and experiments with new capabilities.

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8 hard truths CIOs must learn to accept

CIO Business Intelligence

CIOs have to accept that their current budget does not allow them to do the transformative work in data thats necessary, he says. To avoid that scenario, McHugh says CIOs need to get better at managing expectations. Whats equally challenging? Theyll have to find a way to engage the CFO in a conversation about funding, Schadler says.