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1. Control Costs to Fund Innovation

IT Leaders’ number one challenge is rising costs / cost optimization (The State of Low-Code Process Automation, 2023). Today’s leaders must balance multiple (and at times, competing) priorities, including accelerating digital transformation, managing economic uncertainty and matching high customer and employee expectations.

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Key strategies include:

  • Reducing the cost of managing legacy, by moving key workflows into more agile technology with a lower TCO and higher Total Economic Impact.
  • Using these cost savings to fund innovation that helps you battle the backlog of requests for new applications that is coming from the business.
  • When selecting innovation technologies, focus on cloud-native, usage-based platforms that will provide the highest value for the business at a lower up-front cost.

Learn More in Bizagi's 'State of Low-Code Process Automation Report'

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2. Develop Your Enterprise AI Strategy

Organizations that use AI successfully will be able to get ahead of competitors. But for CIOs, there are critical issues around the responsible and compliant use of AI in the enterprise. By 2026, Gartner has predicted that 5% of workers will routinely use AI against their employer’s wishes to complete tasks. The challenge for CIOs is to meet the business demand and implement AI without introducing risk? 

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Key strategies include:

  • Discouraging mis-use of AI by engaging openly with business users and defining compliant ways of using it. This could mean enabling users with AI tools inside IT-Governed enterprise apps. 
  • AI cannot replace manual processes or fix all the gaps in your systems that need for human intervention. You need to drive wider digital transformation of operations and incorporate AI in places it can add value. 
  • Studying the implications of AI for your organization, identifying the specific risks in your operations and create your own definition of what responsible AI will mean for you. 

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Beyond ChatGPT: Delivering Real Business Value 

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3. Modernize to Tighten Security and Reduce Risk 

Security and risk are the cornerstone of every CIO’s agenda. But tightening up security is not a tick box exercise or a standalone initiative. In 2024 CIOs should be prioritizing initiatives that combine these goals with that of innovation and modernization. If you can deliver against both requirements in a single project, make sure that is top of your list for 2024.  

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Key strategies include:

  • Rationalizing the technology stack, modernizing legacy systems and tackling technical debt to close the gaps between systems that create security risks in your organization. 
  • Digitizing any business processes that rely on paper, email, and spreadsheets. Moving these operations into secure and compliant enterprise apps that protect data and reduce security risks.
  • Leveraging cloud-native technologies that bring the full benefits of the built-in security features of cloud platforms such as Microsoft Azure. 

See How Insight Investment Reduced Operational Risk 

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4. Boost Operational Efficiency with Automation

As enterprises evolve, expanding across geographies and entering new markets, this creates complexity. The inevitable consequence for today’s CIOs is inefficiency. Gaps between systems and silos of information prevent profitable growth. According to IDC, “Organizations too often have to rely on 'human duct tape' to get things done because internal IT systems have not been able to keep up with these changing demands.” 

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Key strategies include:

  • Enabling business teams to get a better understanding of the inefficiencies in their operations by mapping workflows and leveraging technologies such as process mining and process simulation to design better ways of working. 
  • Reducing monotonous work for employees, automating steps and business logic, enabling people to deal with more complex work and focusing on customer service 
  • Avoiding automation for its own sake. Using bots as band aids has become a popular quick fix in recent years, and sometimes it fails to deliver the expected impact on the business. Why? Because it fails to impact the end-to-end process.

Download Your Copy of IDC's Ebook: ‘A Strategic Approach to Automation’

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5. Transform Employee Experiences with Modern Apps 

Retaining technical and business talent is a key priority for CIOs looking to the year ahead. Fighting with the frustration of problematic technologies in the enterprise is a factor that drives employees away, and leadership often aren’t aware of all the problems. CIOs have recognized this and are now responding with programs specifically designed for transforming the employee experience with modern applications. 

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Key strategies include:

  • Creating modern composable apps that employees can engage with, while retaining legacy technology as a system of record where necessary. 
  • Orchestrating data to give staff the information they need, when they need it, so they can make better, faster decisions. 
  • Find ways to do more with the resources you already have, embracing the low-code movement and designing programs to enable citizen developers on IT-controlled platforms. 

Learn How to Build Modern Apps with Bizagi's Low-code Platform 

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