Artificial intelligence and automation are two technologies that have a significant impact on business productivity. Conor Whelan, Chief Information and Operations Officer at Experian, highlights how automation has been integrated into its core plans, with the company now looking to incorporate AI and machine learning to enhance its automation capabilities.
The Challenge of Balancing Innovation and Stability
While innovation is essential for staying competitive, businesses must also ensure they maintain stability and protect their core operations. Andy Caddy, Group CIO at PureGym, stresses the importance of finding the right balance between driving innovation and safeguarding the organisation’s core business.
However, as Christina Scott, Chief Product and Technology Officer at OVO Energy, warns, “The danger in a downturn is you will go into cost-cutting mode completely.” This approach can potentially hinder an organisation’s ability to recover and thrive in the long term.
Instead, technology leaders should continuously evaluate their business strategies and ensure they are allocating resources to both maintain their core operations and invest in innovative solutions that drive growth.
Developing Agile and Adaptable Organisations
Paul Smith, CIO of Amnesty International, highlights the importance of having an “agile mindset” in responding to external events and challenges effectively. “Crisis management and agility is also becoming the norm for us,” he said.
By adopting a more agile approach, businesses can better navigate uncertain times, respond quickly to emerging opportunities, and drive innovation across the organisation.
Collaboration and Breaking Down Silos
Fostering a culture of collaboration and breaking down silos within an organisation is crucial for maximising the potential of technology to drive productivity. As Brackenborough Global CISO, from Channel 4 emphasises, technology leaders should focus on implementing solutions that benefit the entire organisation rather than catering to the needs of individual departments.
Technology has the power to unlock significant business productivity gains, but only if organisations adopt a strategic, forward-thinking approach to its implementation. By focusing on data-driven insights, leveraging AI and automation, maintaining a balance between innovation and stability, fostering agility and adaptability, and promoting collaboration across departments, businesses can harness technology to drive productivity and growth.
As Leon Gauhman, Chief Product and Strategy Officer at Elsewhen, points out, organisations should take full advantage of the data they already have to drive innovation.
In conclusion, sustainable business growth requires a balanced approach to technology adoption that fosters innovation while maintaining stability. By embracing agility, adaptability, and collaboration, organisations can unlock the full potential of technology.