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After nearly 3 years of enabling remote work, securing business operations and increasing productivity levels, forward-thinking CIOs are leading the change agenda in Singapore.
Taking advantage of this once-in-a-lifetime career opportunity, IT leaders are devising new strategies to accelerate digital’s potential to reflect boardroom ambitions to create competitive differentiation in 2023 and beyond.
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According to State of the CIO 2023 findings, 90% of CIOs say their role is becoming more digital and innovation-focused.
Yet such ambitions come with a caveat as CIOs build a foundation for innovation in Singapore amid legacy systems, outdated mindsets, talent shortages and rising threat levels.
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The level of uncertainty in the current operating environment was evident, and while companies were not currently seeing any real direct impact, there is a mixed outlook for the investment with some being “cautious” and others viewing it as “essential”. .
People in the cautious camp are seeing a delay in new investments. Whereas those who consider it necessary have a mandate to change because their business model is being disrupted.
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build on success
The pandemic escalated the state of IT within organizations, and the fact that businesses were grounded was due to the swift actions of the IT department.
The shift to digital has also accelerated the decision-making process in enterprises with decisions being made in days instead of months.
The risk-taking ability of enterprises also increased because the risk of not implementing the technology could not operate the business at all.
Tech budgets are on the rise as well, with the State of the CIO Survey (APAC) 2023 noting that 58% of APAC CIOs expect their budgets to increase in 2023, with another 32% saying it will remain the same as last year Will remain the same.
“We are seeing a continuation of interest in innovation from last year across all organizations,” said XXXXXXXX at VMWare. He continues “What is interesting though is where this innovation is happening – for some it is innovation in simplification, for others it is disruptive innovation.”
Taking Stock and Driving Value Out of Investing
With many investments made during the pandemic with accelerated decision processes, there is an activity of “taking stock” of what has been purchased, and deriving value from previous purchases, be it hardware, software or services.
In some cases, this has led to a more complex environment, requiring enterprises to step back and evaluate.
simplification
A recurring theme is the need to simplify – whether it’s applications or infrastructure, a simple structure with Aadhaar is easier to manage.
“With 73% of enterprises using two or more clouds, it’s easier said than done,” XXXX said. He continues “Bringing together a mix of on-premises, public clouds, private clouds and the edge is key to moving forward and establishing an architecture that not only works, but also enables innovation. “
But this is also the area where APAC CIOs are seeing the biggest challenge with 42% saying technology integration/implementation is top priority needed to support ongoing digital business initiatives (State of the CIO Survey (APAC) 2023) Skills, followed by IT/Cloud Architecture at 33%.
overcoming challenges
“Having the right partner is important. As organizations struggle to find the right and affordable talent needed to continue the innovation journey, bringing in partners who can share the load and bring their expertise is key. XXXXX said. “We have worked with several organizations and helped them overcome the challenges faced by them.
The top five areas we see concern are
1) risks relating to security, data or privacy issues;
2) inconsistent infrastructure in APIs, databases, networks and security;
3) the need to hire or retain new, specialized skills to support public clouds;
4) Ability to manage/optimize expenses; And
5) Increased complexity from the policies that manage individual environments.”
Innovation and Modernization: What is Hunger?
The appetite for innovation is high in Singapore, although the agents of change differ. From strategic organizational change, where a de-centralization strategy requires the business to be divested, through to fundamental changes in technology, such as the shift to electric vehicles, and the impact on the development of a new ecosystem.
New digital revenue models are also on the rise, with more organizations “white labeling” their platforms and licensing their use to other companies. It has also allowed Singapore companies to expand into other geographies.
“A good example of this is Informatics Academy, with whom we have worked to modernize their IT infrastructure to better connect, secure and coordinate operations across their global campuses in Singapore and the UK.” XXXX said.
Generative AI is being explored with ongoing projects in most organizations to see where and how it can be adopted. Concerns remain about its use, especially regarding safety and ethics. But the power of the device is what most enterprises are excited about.
The challenge will be the strategy for embedding generative AI within the organization, and the organization itself will have to change in order to take full advantage of the possibilities present in the changing business processes.
An area of great interest is the ability to use generative AI to explore inside companies’ firewalls to bring together disparate data sources, which is being seen as a disruptive technology. It is clear that those organizations that can adopt, embed, and transform to leverage the power of generative AI will be better positioned for an indefinite period of time to come.
Innovation is being ignited in Singapore.
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