Logicalis Australia has launched its tenth annual CIO Report, unveiling that artificial intelligence (AI), sustainability, and cybersecurity remain at the forefront for business leaders across Australia and the world. The research conducted surveying more than 1,000 chief information officers (CIOs) worldwide, provides significant information about the actions, ambitions, and concerns of global tech leaders, helping local CIOs to keep track of what their counterparts prioritise.
According to the report, 63% of Australian CIOs identify AI as their main priority for 2024, significantly surpassing the global average of 55%. Furthermore, 94% of Australian CIOs are setting up working groups solely dedicated to AI, 7% above the global average. "For ten years, the Logicalis CIO Report has been a barometer for the actions, ambitions, and priorities of global technology leaders, helping local CIOs keep tabs on what their peers prioritise and track how their own technology plans and ambitions have developed," stated Anthony Woodward, CEO of Logicalis Australia.
The report brings to light the dynamic role of the CIO and its strategic importance in balancing innovation, security, and sustainability. It reflects that the insights provided are crucial for companies aiming to accomplish digital transformation and stay ahead in a rapidly altering technological and business environment. Further, the report underscores the growing digital threats and the need for vigilant security measures, with 91%or CIOs to champion comprehensive security strategies to safeguard their organisations against evolving cyber threats.
Sustainability is another major focus, with 92% of Australian CIOs reporting they have tangible targets to reduce carbon emissions from IT, and 94% enhancing their sustainability investments. The report showcases the significant role CIOs play in leading environmental sustainability within their organisations. Woodward shared that "there is a pressing need for CIOs to embrace visionary leadership, and the importance of integrating technologies, such as AI, into business operations cannot be overstated."
Other significant findings from Australian CIOs include that 66% are apprehensive about the challenges of regulating AI, 92% have initiated formal AI policies and opportunities, and 89% strive to develop stronger employee skill sets in AI. Also, 90% have allocated budgets specifically for AI development and implementation, and 98% are investing in or planning to invest in private 5G. Despite this, there remains a level of concern with 59% feeling that their business isn’t fully prepared to handle another major security breach. Finally, 96% reported that they believe IT is core to the achievement of their organisation’s sustainability goals.