What are the priorities of our Luxembourg CIOs?
What keeps CIOs awake at night?
Which challenges will CIOs tackle in the coming year?
Through this survey, we are fostering an active exchange of information amongst the community of CIOs, around their challenges, priorities and objectives for the year 2022 and beyond.
We are delighted to be conducting this series and to be able to share with you the second edition of the survey.
This report not only summarises the CIOs’ responses but also makes a comparison with the previous survey (where applicable) to provide a better understanding of the context and evolution of the rapidly changing IT landscape in Luxembourg. Interestingly, and positively, the results of this CIO-focused survey well complements CEOs’ perspectives offered through our 25th Annual CEO survey.
Highlights of the CIO Pulse survey in Luxembourg
CIOs’ adaptation to the new normal after the COVID-19 crisis
Businesses expect that IT continues to deliver more and faster and IT needs to adjust
Lockdown boosted the digitalisation and modernisation of IT and businesses recognised that success. To keep the momentum, most leaders see a hybrid way of working as the most effective model for the future of IT delivery.
IT affected by regulatory constraints and legacy systems
The increase in regulatory requests forces CIOs to adapt their agenda to be agile, more flexible and geared towards medium-term initiatives. At the same time, they must have the means to prioritise business needs in order to accelerate time to market and meet regulations. Furthermore, because legacy systems make maintenance and integration difficult, CIOs should consider new technologies to change the IT landscape based on a “quick test and fail or accept” approach in close collaboration with business stakeholders.
Priorities for CIOs remain focussed on modernisation
Digitisation during the pandemic forced CIOs to initiate the modernisation of core applications and to rationalise the application landscape. This trend will continue and accelerate within the next few years. Furthermore, cybersecurity and investment in data and AI capabilities will help to drive more informed business decision-making.
Forthcoming challenges and priorities for CIOs in Luxembourg
Innovation as a key enabler for business
CIOs see innovation as a capability differentiator and consider taking a holistic approach that includes both business and technology as the new way to innovate. Moreover, with the COVID-19 pandemic, leaders now know that some common barriers to innovation have fallen, and CIOs have understood that they need to take advantage of the situation to accelerate innovation.
Shortage of highly-skilled IT resources in the market
With the increase in demand for skilled talent in all industries, it has become a real challenge to find the right profiles. CIOs, by rationalising the application landscape and limiting technologies, will minimise the difficulty of hiring qualified people.
Furthermore, because IT professionals have other expectations than just working for one company to have stability, CIOs need also to rethink how highly skilled talents will work in the IT organisation. A re-focus on access to innovation, modern technologies and learning opportunities is becoming more important than the overall salary package.
The new CIO, a business strategic leader
The CIO is no longer seen as a technology expert within the organisation. Their role is changing to become part of the business strategy. CIOs acknowledge that by being in a position with both business knowledge and deep technology expertise, they will support the organisation’s growth strategy. Nevertheless, CIOs must invest in new business skills. This is their new challenge for the years to come.
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