How will IT leaders fuel growth in 2024? Read our U.S. report
6 December 2023
In the face of unprecedented global challenges, businesses must adapt to secure growth and resilience. Technology plays a crucial role, empowering IT leaders to drive innovation and ensure future readiness. However, this requires a shift in the role of IT, evolving from being a support function to becoming a strategic partner that propels innovation and fosters sustainable growth.
To understand what IT leaders are prioritizing in 2024, we commissioned a study of 250 senior IT professionals – including IT managers, directors, and CTO/CIOs – across the United States to get a pulse check on the existing challenges that are top of mind.
To get exclusive access to our detailed research report, filled with valuable insights and thorough analysis, click here.
Here are some of the key takeaways:
1. Few IT leaders see supporting business growth as their primary role
Only 9% of IT leaders consider nurturing business growth as their primary role. Instead, they direct their efforts towards business operations, procurement, maintenance, and technical support. This approach hinders organizational growth in the long run, as IT leaders are not taking full advantage of their potential.
At the same time, this statistic shows the importance of streamlining processes and embracing innovative approaches. By driving such initiatives, IT leadership can unlock their company's full potential and achieve sustainable success.
2. IT leaders face different challenges based on their seniority
Among IT leaders, the top challenges for their organizations include:
The adoption of new technologies (32%)
Recruitment and retention of skilled IT professionals (32%)
Lack of collaboration between departments (30%)
Unstructured IT processes (29%)
IT managers were most concerned about staffing reductions and security threats. IT directors, on the other hand, focused on new technology implementation and compliance.
CTOs and CIOs also face many challenges in their roles. Their top concerns, accounting for 34%, include security threats, limited budgets, and the slow response to market changes.
3. AI, security, and automation are top priorities for 2024
In 2024, IT leaders plan to focus on adopting AI, strengthening security, and streamlining repetitive tasks.
45% are gearing up for the widespread adoption of AI, indicating a significant shift towards intelligent automation. Close behind, 44% are looking to tighten their security measures due to ever-increasing digital threats.
Diving deeper into the roles, both IT directors (52%) and CTOs/CIOs (63%) are making AI integration a top priority. In contrast, IT managers are focusing on bolstering security measures (42%).
4. There are still concerns about AI adoption
Integrating AI into an organization is not without its challenges. These encompass the long-term impact on the industry and the ability to meet organizational requirements.
While AI promises transformative effects, IT leaders have expressed certain concerns:
40% worry about the potential long-term impact AI will have on the IT industry and its workforce.
38% cite legacy technology as a roadblock to embracing AI's potential.
32% believe existing AI technology doesn't yet meet their organization's needs.
Interestingly, the size of an organization also plays a role in AI adoption. IT leaders at companies with less than 1,000 employees are concerned about AI's potential negative impact. For larger organizations, the major hurdle in adopting AI is the presence of legacy technology. These IT leaders are more eager to adopt new technologies that can boost efficiency.
5. Automation with AI is a key focus
According to our survey, 31% have already automated 25-50% of their IT processes, leading to significant time savings. Among those, 52% automate everyday tasks, while 51% use it in more creative endeavors. These include creating sales documentation and crafting engaging social media content.
Other applications involve:
Data analysis (50%)
Analyzing employee and customer behaviors (46%)
Strategic business development (43%)
Tracking industry trends and customer activities (43%)
AI's range of applications highlights its immense transformational potential for IT departments and organizations.
Embracing efficiency for sustainable growth
To thrive in today's fast-paced and highly competitive market, businesses need to adopt a forward-thinking approach that prioritizes technology as a driving force for growth.
By prioritizing strategic planning, efficient procurement, and innovative technology integration, today's IT departments can drive growth and thrive. But this can only be achieved by embracing change and challenging traditional approaches.
With the right mindset, IT leaders can steer their organizations towards excellence and success in 2024 and beyond. So don't miss out on our full research report to discover more insights and strategies for fueling growth in the IT industry.
Click here for exclusive access.
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