Artificial intelligence and automation are two technologies which have a major impact on business productivity. Conor Whelan, Chief Information and Operations Officer at Experian, highlights how automation has been integrated into its core plans, with the corporate now seeking to incorporate AI and machine learning to reinforce its automation capabilities.
The Challenge of Balancing Innovation and Stability
While innovation is crucial for staying competitive, businesses must also ensure they maintain stability and protect their core operations. Andy Caddy, Group CIO at PureGym, stresses the importance of finding the appropriate balance between driving innovation and safeguarding the organisation’s core business.
Nonetheless, as Christina Scott, Chief Product and Technology Officer at OVO Energy, warns, “The danger in a downturn is you’ll go into cost-cutting mode completely.” This approach can potentially hinder an organisation’s ability to recuperate and thrive in the long run.
As a substitute, technology leaders should constantly evaluate their business strategies and ensure they’re allocating resources to each maintain their core operations and spend money on progressive solutions that drive growth.
Developing Agile and Adaptable Organisations
Paul Smith, CIO of Amnesty International, highlights the importance of getting an “agile mindset” in responding to external events and challenges effectively. “Crisis management and agility can also be becoming the norm for us,” he said.
By adopting a more agile approach, businesses can higher navigate uncertain times, respond quickly to emerging opportunities, and drive innovation across the organisation.
Collaboration and Breaking Down Silos
Fostering a culture of collaboration and breaking down silos inside an organisation is crucial for maximising the potential of technology to drive productivity. As Brackenborough Global CISO, from Channel 4 emphasises, technology leaders should deal with implementing solutions that profit all the organisation relatively than catering to the needs of individual departments.
Technology has the facility to unlock significant business productivity gains, but provided that organisations adopt a strategic, forward-thinking approach to its implementation. By specializing in data-driven insights, leveraging AI and automation, maintaining a balance between innovation and stability, fostering agility and flexibility, and promoting collaboration across departments, businesses can harness technology to drive productivity and growth.
As Leon Gauhman, Chief Product and Strategy Officer at Elsewhen, points out, organisations should take full advantage of the information they have already got to drive innovation.
In conclusion, sustainable business growth requires a balanced approach to technology adoption that fosters innovation while maintaining stability. By embracing agility, adaptability, and collaboration, organisations can unlock the complete potential of technology.