Stressed, anxious, excited – CIOs’ state of mind in 2024

Technology leaders from large global enterprises are feeling the pressure as AI becomes a major force of innovation and disruption, according to the IDC InfoBrief, commissioned by Expereo, Enterprise Horizons 2024: Technology Leaders’ Priorities on Their Digital Business Journey*, which reveals that 64% of global respondents find it challenging and/or stressful to meet the technology demands of the business, and that AI is a key source of both pressure and opportunity.

The paper reveals that AI has raised the profile and expectations of technology leaders at board level – a double-edged sword for many senior technology decision-makers. While 60% of global respondents say their focus on AI has boosted their personal reputation, 47% also say their board has unrealistic demands regarding the impact of AI on international business performance and 39% felt their job is more stressful or negative because of their added profile.

The perceived impact of AI on the workforce, both within and outside of IT, could be partly causing this ‘AI-anxiety’. While the emergence of a Chief AI Officer role could bring businesses new opportunities, 40% of technology leaders say a CAIO role will take over much of the CIO’s responsibilities within two years, and 38% of them are worried that AI could replace their or their team’s role. Moreover, 46% of global respondents believe increased automation will also result in some roles outside of IT being displaced.

CIOs remain excited, despite challenges

However, technology leaders are also excited about the pace of technology innovation. The survey shows that 68% of global respondents say this is the most exciting time to be a technology leader, and 71% of them are confident that they or their team can support growth and efficiency gains through their current technology strategy.

The survey also shows that technology leaders are expected to contribute to various aspects of the business, such as growth, risk management, and IT modernization, but their role will become even more demanding in the next two years, as they will have to orchestrate digital transformation and generate digital revenue. For instance, only 7% of global respondents say they have to demonstrate ROI to the board to justify budget increases today, but this number will increase to 12% in two years' time.

Ben Elms, Chief Executive Officer at Expereo, says: “Technology leaders are at the forefront of driving innovation and transformation in their organizations, but they also face significant challenges and pressures from the business and the board.”

Elms continued: “It’s vital that CIOs align with their CEOs to ensure they are given the proper support by their stakeholders, teams and their external partners, to help them make the most of a challenging but exciting technology landscape.”