CIOs face stress & excitement over AI advancements

Chief Information Officers (CIOs) are experiencing a range of emotions, from stress and anxiety to excitement about the opportunities presented by artificial intelligence (AI), according to new research conducted by IDC and commissioned by Expereo. The study, which surveyed 650 global technology leaders from some of the world's largest companies, reveals that AI is having a significant impact on their roles and personal reputations within their organisations.

The research highlights that 60% of global respondents believe their focus on AI has enhanced their personal reputation, elevating their status at the board level. However, this recognition comes with its own set of challenges. According to the survey, 47% of respondents feel that their boards have unrealistic expectations regarding the impact of AI on international business performance. Additionally, 39% reported that their jobs have become more stressful or negative due to the increased visibility and responsibilities that come with their elevated profile.

The report, titled Enterprise Horizons 2024: Technology Leaders' Priorities on Their Digital Business Journey, delves into the complexities CIOs face as AI continues to drive innovation and disruption within their organisations. For many technology leaders, the rise of AI represents both a burden and an opportunity. The study reveals that 64% of respondents find it challenging and stressful to meet their organisation's technology demands, with AI being a significant contributing factor to this pressure.

The study also suggests that the rise of AI could cause anxiety among technology leaders and their teams. One emerging trend is the introduction of the Chief AI Officer (CAIO) role, which 40% of respondents believe will take over many of the CIO's responsibilities within the next two years. Furthermore, 38% are concerned that AI could replace their roles or those of their team members. Additionally, 46% of global respondents think increased automation will result in job displacement beyond the IT department.

Despite these challenges, the survey indicates that excitement about the pace of technological innovation remains high among technology leaders. 68% of global respondents consider this to be the most exciting time to be a technology leader, and 71% are confident in their current technology strategies to support business growth and efficiency gains.

CIOs are increasingly expected to contribute to various facets of the business, including growth, risk management, and IT modernisation. The role is anticipated to become even more demanding over the next two years as digital transformation initiatives and digital revenue generation efforts intensify. Currently, only 7% of global respondents need to demonstrate return on investment (ROI) to justify budget increases to the board, but this figure is expected to rise to 12% within two years.

Ben Elms, Chief Executive Officer at Expereo, commented on the findings: "Technology leaders are at the forefront of driving innovation and transformation in their organisations, but they also face significant challenges and pressures from the business and the board."

Elms added, "It's vital that CIOs align with their CEOs to ensure they are given the proper support by their stakeholders, teams, and external partners, to help them make the most of a challenging but exciting technology landscape."