Logicalis, the leading global technology service provider, has released its annual CIO Report, which reveals that 95% of CIOs are actively investing in technology to create new revenue streams within the next 12 months.
According to the report – which surveyed 1,000 CIOs from across the globe, including Ireland – the CIO role is no longer focused on enablement but on shaping business strategy and driving value, with nearly all CIOs (94%) regularly reporting to the board on return on investment (ROI).
This expanded mandate is heightened by the rapid emergence of new technologies. The report found that almost all organisations are exploring how next-generation technologies can specifically support commercial growth. This trend shows no sign of slowing, with Artificial Intelligence (AI - 95%), machine learning capabilities (93%), and Internet of Things (IoT - 89%) initiatives among the most widely adopted emerging technologies over the past 12 months.
Realising value from these investments remains a challenge with 85% of CIOs reporting a growing pressure for technology to demonstrate tangible business impact and many (64%) acknowledging that their next-generation technology investments have yet to deliver anticipated returns. As the gap between balancing investments and realised value intensifies, CIOs remain optimistic about the potential of these technologies.
Still, most tech leaders (93%) continue to juggle limited time and resources to ensure better business outcomes. As CIOs consider innovations that support future growth, they must continue to navigate business-critical objectives. Despite unprecedented spending on security solutions, 88% experienced cybersecurity incidents in the last 12 months last year, with 43% enduring multiple breaches raising questions about the effectiveness of security spending.
One area where they are beginning to see tangible financial results is through the integration of environmental technologies. Nine in ten (91%) CIOs have realised direct commercial benefits, and over half (53%) report these as significant. With a good track record, it is no surprise that those investing in environmental sustainability initiatives have risen from 92% in 2023 to 95% over the past 12 months.
On this year’s report, Bob Bailkoski, Global CEO of Logicalis Group, said: “For almost every business, technology has become the primary engine of innovation, growth and resilience. With this dependence comes a new expectation of CIOs – they’re no longer just enablers of business strategy but drivers of commercial success. Whether through maintaining a keener focus on ROI from next-generation technologies, optimising security spending or maximising the financial benefits of sustainability initiatives, technology leaders need to seek out the right investments and partnerships that can help them deliver on their business goals.”
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While most CIOs are confident that their IT spending is yielding a return, many (91%) believe there is room for improvement. As challenges around complexity, resources and performance visibility remain, the report highlights the importance of fostering strong technology partnerships to help CIOs meet this changing landscape, alleviate pressures and unlock value.
Additional findings on innovation
Additional findings on sustainability
To see the full report visit: www.logicalis.com/cio-report
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