It is becoming fairly common place to see Chief Information Officers (CIOs) find a berth on the boards of companies as Chief Executive Officers (CEOs) increasingly bank on their technology peers for strategy inputs, according to the latest annual study of global CEOs carried out by International Business Machines (IBM).
"The role of a CIO has evolved from setting up a cost effective information technology infrastructure, to putting together a strategic backbone for a company through innovation," IBM India's Director - Global Technology Services, Nipun Mehrotra, told Hindustan Times from Bangalore as he spoke on the survey due to be released later this week.
Companies are consistently working towards aligning their IT investments with their businesses priorities, points out the survey that polled 765 CEOs across the globe. As many as 44 of them were from India.
Nearly 80 per cent of the CEOs interviewed rated business and technology integration of great importance. "The message that resonates in the response of all the Indian CEOs is that innovation is topmost on their agenda. In fact, 86 per cent of the Indian CEOs rated business and technology integration of great importance. While innovation in business model is topmost on the agenda of global CEOs, their Indian counterparts swear by product innovation," Mehrotra said.
In the 2006 study, 65 per cent of the world's top corporate CEOs declared that due to pressures from competitive and market forces, they plan to radically change their companies in the next two years, especially through innovation.