Digital technology is increasingly transforming industries, seeping into every part of the business and escalating as a corporate priority. It’s therefore no surprise that the role of the chief information officer (CIO) is also transforming.
In fact, more than four out of five CIOs recently surveyed by Forbes Insights, Intel, and VMware believe the CIO role has increased in importance over the last five years.
“CIOs today show all the evidence of moving up within the hierarchy. They now report directly to the CEO, sit on the board, lead teams of diverse backgrounds and skills, and have a seat at the strategy table,” says Craig Stephenson, managing director of the CIO & CTO practice at Korn Ferry, a consulting firm. “But more importantly, the job is earning a new stature and recognition amongst peers in senior management.”