The story of the last few decades has been one of how technology came to shape the world. From the dawn of the internet in the 1990’s, with crackling modems and snail-like download times, we have progressed very quickly to a world where technology and data shape our working and personal lives. And with this change, the role of the Chief Information Officer (CIO) has also changed.

Once upon a time, IT technical support was there to maintain systems that were part of a business, though perhaps not central to it. Now however, even those businesses that aren’t digital first are investing in the tools that will shape the businesses of tomorrow, from AI to data management to automated processes.

As such, the CIO is no longer a peripheral figure in a business, and the knowledge and technical expertise that a CIO brings makes them central to any decision making process. Recent years have seen the role of the CIO evolve into a strategically important position within business, reflecting the need for technology to be core to business strategy. A key part of remaining competitive in 2023 is being well placed to capitalise on the opportunities afforded by fast moving technological development.

Recent years have seen the role of the CIO evolve into a strategically important position within business.

Companies that want to compete in our tech-fuelled world then need to ensure that the CIO is a key voice within the business, heard at the highest levels.

For the CIO too, this means change. To succeed at the top of a business requires a set of soft skills that go beyond the technical skills that could once have played a successful supporting role. As a business leader, a CIO needs a ‘bigger picture’ understanding of technological trends and challenges that goes beyond a command of technical detail.

CIOs today should also be able to build a team of experts they can coach and guide but understand the technical details from them. It is important to strike the right balance. Too little technical knowledge can be just as dangerous and counterproductive as being overly involved in the detail.

While soft-skills are of growing importance, a command of tech will always be key to success as CIO.

A broader set of leadership skills are critical – the CIO needs to be able to manage and work with stakeholders from the Board and Executive Committee to business heads. They also need to have the ability to lead technical function heads and their teams of subject matter experts if they want to attract and retain talent in their business.

Overall, a balance is needed between being able to manage the here and now and provide strong service delivery and plan strategically for the medium to long term. Too much focus on change leads to technical debt and outages; too much focus on service and the business won’t move forward.

While soft-skills are of growing importance, a command of tech will always be key to success as CIO. The rapid acceleration of AI technology is one example of a technical area that a CIO will need to lead on. For the CIO it means building teams as well as defining policies and standards to ensure safe and effective use of AI. Whilst AI is a powerful tool which can be used to differentiate a business, if you do not have good data, or expertise in house to validate the results it could be misused, leading to serious consequences for the business.

As a tool for the CIO, as with any other business lead, it provides an opportunity to take manual, repetitive tasks away from key staff and allow them to concentrate on value-add activities. Efficiency and productivity gains, as well as additional protection, particularly in using AI in cyber tooling helps in leading a function.

But, it’s important for a CIO to not get caught up in the hype, and the demands that may be coming from different places around the business, and to remain focused on overall business goals and the role of AI and other new technologies in taking the business in the right direction.

A decade down the line, the role of CIO as we know it will be in many ways unrecognisable.

As technology has evolved in recent decades, so has the role of the CIO and this process is unlikely to slow now. A decade down the line, the role of CIO as we know it will be in many ways unrecognisable. Business structures will evolve as technology skills and expertise grow across other functions, leading to less of a need for a centralized technology function. As such, many CIOs are changing their roles to take on product, digital and/or operations within their remit to drive the use of technology at the heart of business strategy.

As businesses move to agile working practices, bringing together cross functional teams to implement new products and or services faster and continually evolving them, eventually the structure of the business is more likely to evolve to product or service alignment, changing the role of the CIO and other business leaders.

While some things change, however, others remain the same. And, as CIOs assume greater leadership roles within business, the need for people skills, strategic overview and a keen understanding of the big trends shaping tech and shaping business, will remain key.

Marie Measures is Chief Digital Information Officer at Apex Group. Marie has 30 years’ experience in technology, over 20 in the finance industry.