Current Scenario
The employment outlook of a particular profession may be impacted by diverse factors, such as the time of year, location, employment turnover, occupational growth, size of the occupation and industry-specific trends and events that affect overall employment.
As technology grows, so will the need for experts who can work with sophisticated computers, information systems, and digital platforms. Organisations increasingly lean towards data analytics to make informed business decisions and require technically-sound and business-savvy CIOs to help them navigate a constantly-changing terrain.
Industries such as healthcare and other scientific, professional, and technical services exhibit potential demand for efficient CIOs. In addition, small businesses that are beginning to prioritise information management systems offer alternate employment avenues.
Furthermore, a rise in the use of cloud computing, industry mergers and acquisitions, and the need to develop and implement more rigorous cybersecurity measures validate the expected employment growth of this profession.
Chief Information Officer (CIO) vs Chief Technology Officer (CTO)
Although both play critical roles in the IT department of an organisation, the CIO aims to improve internal processes. At the same time, the CTO uses technology to innovate products and services used by customers.
However, there may be rare instances where an organisation's size, location, or scope makes it more efficient to combine the two roles.
Chief Information Officer (CIO) vs Chief Information Security Officer (CISO)
CIOs often need clarification with their security counterparts, CISOs (Chief Information Security Officers). The simple truth is that CIOs are IT generalists and strategists with leadership skills in contrast to CISOs with more precise IT security-specific expertise.
Cybersecurity can Make or Break the Business
With cyber-attacks becoming commonplace globally, companies have prioritised cybersecurity and data security to mitigate the loss of sensitive information. CIOs who can implement robust encryption methods, monitor network activities, and train employees on the best practices for web safety in a cost-effective manner will ensure their employer’s success in the industry.
Future Outlook
The analyst firm Gartner notes that 95% of CIOs believe their jobs will soon undergo considerable evolution due to the greater digitalisation of the commercial landscape.
Stronger emphasis on achieving optimal revenue growth while implementing a seamless digital transformation calls for an increasingly business-centric CIO role with adequate technical savvy.
With IT innovations and start-ups happening at warp speed, we will likely see considerably younger and less experienced CIOs steering their company safety through the twin seas of technology and operational strategy.