Published on January 2, 2024, 8:44 am
Cloud, AI, and tech talent are set to play a significant role in keeping IT leaders on their toes as the new year progresses. While 2023 saw a wave of layoffs that had substantial implications for the tech sector, it also witnessed the evolution of various trends.
Throughout the year, close attention was given to the tech talent ecosystem, which underwent considerable changes due to the layoffs. Meanwhile, cloud costs continued to be a top concern for leaders as new features led to increased workloads in traditional infrastructure. However, one trend that stole the spotlight was generative AI. This fast-rising technology was prominently featured in many IT strategies over the past year. From both enterprise and vendor perspectives, we covered this emerging field extensively.
As providers raced to add new features to their platforms, technology leaders transitioned from pilot projects to wider deployments as they sought clear business advantages through generative AI.
In addition to these developments, cybersecurity will demand immediate action from CIOs this year. Working alongside Chief Information Security Officers (CISOs), they will strive to protect their companies from sophisticated threat actors while complying with new cyber incident disclosure regulations issued by the Securities and Exchange Commission at the close of 2023.
Looking back at last year, here are seven stories that shaped technology decisions and are expected to continue doing so:
1. ChatGPT’s Impact: In preparation for its one-year anniversary since its debut, CIO Dive compiled key milestones in the journey of generative AI and its integration into enterprise processes.
2. Investment in Infrastructure: AWS, Microsoft, and Google Cloud have all invested significantly in supporting generative AI models through infrastructure development while working on strategies to manage associated costs effectively.
3. Attracting Top IT Talent: Utilizing up-to-date technologies and establishing a trustworthy reputation can entice highly skilled IT professionals to join organizations.
4. Normalization of Tech Workforce Recruitment Cycle: Recent layoffs signaled a return to normalcy in the tech workforce recruitment cycle after years of excessive hiring.
5. Cyber Threats and Generative AI: While IT departments seek enterprise applications, cyber teams must remain vigilant against attacks that employ generative AI technology.
6. FinOps and Usage Control: Executives are starting to grapple with the repercussions of decentralized decision-making and are turning to Financial Operations (FinOps) practices to regulate usage and spending, as highlighted by KPMG’s Will DeMille.
7. CIO’s Role in Cybersecurity Incident Reporting: The new rules for reporting cybersecurity incidents emphasize the CIO’s responsibility as a communicator and connector within the organization.
As businesses evaluate how to navigate volatile market conditions, CIOs can expect a busy year ahead. Employees remaining with companies will closely monitor how departing workers are treated, necessitating support as they strive to move forward.
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In conclusion, cloud technology, AI advancements, talent management, cybersecurity measures, and other crucial topics will continue shaping IT strategies in the ever-evolving landscape of 2024.