Geopolitical tensions might disrupt operations
As the world grapples with increasing geopolitical tensions, businesses are encountering a spectrum of challenges. It’s vital for CIOs to stay informed by keeping up with international news while also being mindful of external influences.
“The escalation of tensions between the US and China could disrupt supply chains for many companies, so it’s crucial to diversify risks to reduce dependence on these two countries,” says Bilyk. This approach is essential to maintain business continuity.
For companies with teams operating in geopolitically sensitive areas like Ukraine or Israel, it becomes even more important to have robust contingency plans in place.
“In Ukraine, the focus has shifted from adopting new technologies to preserving and enhancing the existing infrastructure due to the war’s impact,” says Sergi Milman, CEO and founder of online company verification service, YouControl.
Company culture and talent shortage
In addition, CIOs should be aware of staff turnover rates and the reasons behind them, although this isn’t necessarily part of the job description. Gaining this insight can help them identify potential problems in team dynamics or organizational culture early on. Addressing these issues can also lead to effective strategies to retain talent, thereby fostering a more consistent and efficient workforce.
In certain industries, talent shortages and skills gaps are significant challenges that organizations must navigate. “The rapid evolution of technology is widening the gap in skills, particularly in emerging technologies,” says Bilyk.
To attract and retain talent, organizations must ensure they offer a work environment that meets the needs of the workforce. Bilyk recommends adopting flexible remote work policies if possible and providing support to employees when they need it.
“Mundane tasks and ineffective processes can transform any organization into a swarm,” Kasian says. “Revision and improvement of workflows and business processes are always iterative tasks.”
She also suggests that efficiency should be a priority for companies. “New software implementation and the adoption of AI don’t make the organization operate better by itself,” she adds. “The reality pushes the business to transform itself faster. And, at the same time, the old five-year plans might not work anymore.”
Companies can’t afford to overlook security
As technology advances, the complexity and sophistication of cyber attacks increase. It’s not enough to defend against known threats. It’s also important to anticipate new trends that emerge with AI advancement.
“The risks of intrusions, corporate data theft, and attacks on infrastructure are increasing,” Kasian says. “To operate safely, organizations must preventively think about security. If the company doesn’t have a security officer and dedicated security team yet, it’s time to start urgently changing this.”
In fact, in light of rising security threats, the role of the CIO has seen a convergence with cybersecurity, says Grant McCormick, CIO of California-based cybersecurity company Exabeam. “Regardless of whether security reports to the CIO or another leader within the company, it’s in everyone’s best interest to be conscious of the organization’s security posture, and to enable IT and cybersecurity to work in a highly synchronized manner,” he says.
Sikkut urges companies to be more proactive and recommends that CIOs adopt a ‘trust-by-design’ approach from the start, integrating security and privacy protection into their business processes.
Yet, in spite of their best efforts, organizations often find it challenging to keep pace with the evolving landscape of threats. In such situations, seeking external assistance can help. Independent ethical hackers who work with platforms like HackerOne can be an option, as they’re getting better at finding and fixing risks associated with generative AI.
“More than half of the hackers within our community plan for gen AI to be a main target, and to specialize in hacking the OWASP Top 10 for LLMs,” says Chris Evans, CISO and chief hacking officer at HackerOne. “The lower barrier to entry for individuals interested in this field builds an inclusive path toward the security experts of tomorrow and a safer internet for everyone.”
Once again, the keyword is adapt. “Be aware of the unknowns around new attack vectors and new emerging risks and, by that, leave enough flexibility to change your security strategy without blocking the organization,” says Aqua Security’s Lewy-Harush.
Strategic investment in data management
Lastly, organizations need to think about how they manage their data. This means investing money and resources into reliable systems that can organize, store, and protect the information they use every day. Doing this helps them make better decisions, improves efficiency, and keeps important data safe.
“As the volume of data increases and the need for robust data management becomes critical, a red flag would be the lack of a scalable data management strategy that can keep up with the demand for instant access and insight from AI systems,” says Carl D’Halluin, chief technology officer at data storage software developer Datadobi.
Reluctance to adopt new technologies, including API-centric architectures and meshed applications, can also be an issue, he adds, because these are crucial to ensure interconnectivity and efficiency in data management.
