Published on December 11, 2023, 6:17 pm
As we enter into a new year, enterprise technology professionals are sharing their top priorities and outlooks for 2024. In a recent CIO Dive live event, industry experts came together to discuss the current trends in technology, with a focus on cloud, talent, and generative AI.
One of the main observations from the event was that companies are expecting IT executives to cut through the noise and deliver value using technology. This year, there has been an increase in interest in generative AI, sparking widespread demand for implementation. However, before companies can see positive outcomes from implementing generative AI, they need to invest time and effort into the underlying elements such as cloud infrastructure and talent.
Looking ahead to 2024, CIOs will continue to strive for perfect alignment between their tech strategies, customer expectations, and available resources. Ideally, they will build upon the lessons learned from both successful and unsuccessful experiments in 2023.
During the event, several experts shared their insights on various aspects of technology. Dara Meath, SVP and CTO at Build-A-Bear Workshop emphasized the importance of setting up the right architecture that can accommodate data effectively. She highlighted the need for not only having the right tech stack but also ensuring that everyone is educated about how it works.
Amanda Luther, managing director and partner at Boston Consulting Group acknowledged that there was a lot of hype surrounding generative AI at the beginning of this year. However, she stressed that companies need to be prepared for failures and challenges as they go through the hype cycle. It’s important to identify where true value lies within generative AI.
Martha Heller, CEO at Heller Search predicted that genAI would have a significant impact on roles and hiring practices. She believes that companies will begin defining their data strategies in 2024 and focus on acquiring talented individuals who specialize in machine learning (ML) engineering and large language models (LLM) development.
Claire Rutkowski, SVP and CIO Champion at Bentley Systems discussed the talent trends expected in 2024. She mentioned a greater emphasis on upskilling and training existing resources to meet the growing demand for specialized skills in AI. While education is still important, practical experience and certifications play an increasingly critical role in hiring decisions.
Ninish Ukkan, CTO at Arvest Bank highlighted that cloud service providers are making it easier for companies to experiment with generative AI. They are simplifying access and implementation of AI and ML tools, allowing organizations to prototype and experiment more freely.
Anne Johnston, VP of cloud costs and engagement at Capital One emphasized the shift towards serverless technology. Capital One has already embraced a serverless-first approach, allowing them to focus their efforts on engineering work and customer experience instead of infrastructure maintenance. Anne predicted that more companies will follow suit or find alternative ways to move up the technology stack, relying on cloud service providers for infrastructure management.
In summary, as we look ahead to 2024, it’s clear that generative AI will continue to be a significant area of focus for companies across various industries. CIOs will need to prioritize aligning their tech strategies with customer expectations while ensuring they have the necessary talent and robust cloud infrastructure in place. It will also be essential for organizations to learn from both successes and failures in order to drive innovation and deliver value through technology implementations.
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