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Accenture Report: 25% of World’s Economy Will Be Digital By 2020

Posted on June 16, 2016 by Allison Erdman on Catavolt Blog

According to a recent report from Accenture, 25 percent of the world’s economy will be digital by 2020. In 2015, 22 percent of the world’s economy was already digital.

As the world finds itself in the midst of a technology revolution, many companies are finding themselves at a crossroad of meeting customers’ changing needs and embracing a new culture in their business. This makes IT and specifically, the CIO’s role much different than it was ten years ago. According to a recent article“The Key Questions CIOs Will Have About Rapid Mobile App Development – And The Answers,” from Catavolt CEO George Mashini, the role of the CIO is quickly evolving and becoming a much more people-centric role. A CIO who creates a culture where technology empowers, not hinders their employees is the one who will drive change.

Here are three things that the modern day CIO must do in order to create a corporate culture that fosters new technology:

1. Embrace New Business Technologies That Drive Accomplishments

Every month, we see new business and consumer technology and apps that are marketed to be the next “must have” tool. A good CIO will carefully consider these technologies for their employees, but a great one will only invest in tools that will actually drive success in their business. After all, if your organization spends months and hundreds of thousands of dollars on developing and implementing new technology, but didn’t ask their employees what they need to accomplish their job, it may be a complete waste. When a CIO approves a budget for the next platform or tool, it is crucial that it is simple to develop with, easy to train employees on how to use, and pushes not only their company but their teams forward into a rapid pace digital era. Most importantly, any technology brought in to an organization should be data-driven so that employees can be more efficient, make better decisions, and see more accomplishments.

2. Prepare for Fast Pace Changes in Technology 

According to the Accenture report, 28 percent of respondents believe the pace of technology will increase at an unprecedented rate in the next three years. Only one percent said they believe it will decrease. Technology is deploying at a rapid pace, with most IT professionals believing cloud-based solutions and enterprise mobility will yield the biggest returns for organizations this year. This rapidly changing cultural revolution has left many CIOs questioning what they can do quickly to prepare their employees for new tools and new changes. Building a culture of change in their organizations requires training employees on new digital skills and processes, and encouraging the use of tools that drive efficiency, agility, and collaboration. 37 percent of business and IT executives surveyed already know that training their employees on new technology is significantly more important in 2016 than it was three years ago. By taking the steps to prepare your employees for a rapidly changing future early, CIOs can expect more satisfied employees that embrace new ways of working.

3. Remember That Your Success Hinges on Your People

Succeeding as a CIO means more than throwing the newest and hottest technology at your employees. It means treating your employees like customers, listening to their feedback and ideas, answering their questions, and including them in the development and implementation process of new tools and platforms. If your employees aren’t satisfied with technology, your organization is potentially leaving money on the table and missing an opportunity to better serve your employees. When CIOs embrace the idea of focusing on their people more than the latest tool or their budget alone, they are more likely to lead their organization successfully into the next phase of this digital revolution.

To learn more about accomplishing digital change in your organization, click here to read Catavolt’s “Why You Should Treat Your Employees Like Customers When It Comes to Rapid Mobile App Development” blog post.