Chief information officers are now challenged to adapt to this new global transformation. In order to achieve this, they have to break away from traditions and rethink how they can strategise to transform their organisations.
According to CEO of CIO Academy Asia P. Ramakrishna, this will involve chief information officers coming up with innovative approaches in managing an information technology organisation in the future.
He said that digital transformation is not a one-off exercise. It is a never-ending journey, and leaders have to create an environment where an organisation can continually adapt and develop the digital talent to spark innovation and renewal.
Technology is disruptive. Thus, agility and the ability to respond to change quickly are seen as key components of success.
However, there would be a number of risks relating to people, technology and process in the digital transformation journey. Organisations face difficulties in hiring enough quality employees who can adapt and develop in the age of disruption.
They must choose the suitable technologies as not all technology will work for a business.
"We cannot stay away from disruptive technology. You need to know which technology will help your business grow," said Dato’ Ng Wan Peng, chief operating officer of Malaysia Digital Economy Corporation.
In terms of process, Ramakrishna said that organisations must ensure an efficient strategy to develop and be safe, especially in the context that cybersecurity is getting more complicated.
He pointed out that Vietnam, alongside with Malaysia, is accelerating in the digital transformation. And if the country follows the right track and prepares carefully, it could not only catch up with Singapore, Thailand, and Indonesia but also be able to leapfrog.
"Finance and government are leading the journey as they are more mature, and I believe that this would be the same in Vietnam. The use of technology, a superpower would be different in various countries and organisations, depending on the vision of governments," said Ramakrishna.
In addition, organisations should learn from each other to go further and safer in a disruptive age.
The reThink CIO Forum Vietnam 2019 is in the series of CIO Academy Asia’s initiative to bring together some of the best practitioners to rethink the role of a chief information officer in organisations.
Three main topics that would be discussed include:
- Digital economy ecosystems at work which are industry perspectives on the economic, social and digital infrastructures and how digital leaders can leverage emerging technologies to drive innovation and growth
- Industry best practices cybersecurity threat lifecycle management
- Rethink strategies for the digital economy – agility, customer experience and cybersecurity & risk management.