A recent survey conducted by Lenovo reveals that Chief Information Officers (CIOs) prioritize technology innovation despite economic challenges and limited budgets. The study highlights a focus on investing in new technologies, particularly Artificial Intelligence (AI) and Machine Learning (ML). However, concerns about insufficient resources for innovation persist among the majority of CIOs.
Why it matters: The concerns expressed by CIOs about resource limitations underscore the need for organizations to prioritize and allocate sufficient budgets for innovation. Without adequate resources, organizations risk falling behind their competitors and missing out on opportunities for growth and transformation. It is essential for businesses to recognize the value of innovation and provide the necessary support to CIOs in their pursuit of technological advancements.
- 83% of CIOs worry about having sufficient resources for effective investment in innovation.
- 33% of CIOs believe their organizations lack sufficient resilience.
- The majority of CIOs expressed dissatisfaction with much of their installed IT base, with 55% saying that they would replace half or more of their tech stack if they had the chance.
