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Title: Keeping Tech Investments in Perspective: Don't Forget the Forest for the Trees

Embracing the digital age, it's an exciting opportunity to revolutionize value delivery via technology.

In a modern, tech-savvy setting, an energetic Asian duo diligently oversees their financial...
In a modern, tech-savvy setting, an energetic Asian duo diligently oversees their financial ventures. They're deeply engrossed in the intricate world of online finance and investment, analyzing stock market dealings using a user-friendly mobile application on their laptop and smartphone. This digital setup enables them to make strategic financial plans remotely, demonstrating the power of modern banking and investment systems.

Title: Keeping Tech Investments in Perspective: Don't Forget the Forest for the Trees

Investing in cutting-edge technologies like AI and blockchain is a hot trend among businesses worldwide, with Goldman Sachs estimating an investment of around $100 billion in the US and $200 billion globally by 2025. Despite their potential to propel innovation, these emerging technologies come with increased risk due to their rapid evolution and the gaps in governance, use case vetting, and strategic goal alignment.

Organizations must prioritize investing in technologies that align with their strategic objectives and have a clear-cut return on investment. It's easy to rush into projects out of fear of missing out, but it's crucial to ensure they serve the organization's most critical business goals. These investments might even have hidden costs that aren't initially apparent.

The potential benefits of emerging technologies are vast, from increasing efficiencies and reducing costs, to improving business processes and enhancing overall performance, to introducing disruptive products and providing excellent customer experiences. For instance, financial institutions could leverage advanced fraud detection systems with machine learning algorithms, while real estate firms could utilize blockchain systems to address common issues such as reduced transaction costs and better investment management.

Emerging technologies can also help energy companies excel in predictive maintenance and implement algorithms for smoother energy flow in both traditional and renewable applications. However, it's essential to implement these technologies responsibly, observing good governance practices.

According to ISACA research, many organizations lack comprehensive AI policies, leaving a major gap that needs to be addressed. By establishing organizational policies before making significant investments, a more responsible implementation of AI can be ensured. This includes creating explainable workflows and addressing potential AI failures.

Regular reporting of project outcomes is also essential, as modern business goals often shift over time. Tracking progress and assessing results helps determine if adjustments are needed or if investments are still beneficial.

Emerging technologies undoubtedly make for an exhilarating time on the business landscape. While they are ripe with opportunity, it's crucial for enterprise leaders to avoid getting carried away and instead focus on investments that align with their strategic goals. With the right governance foundations and clear-eye approach, emerging technologies can deliver exceptional value to businesses.

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Chris Dimitriadis, a renowned figure in the tech industry, often emphasizes the importance of conducting thorough risk assessments before investing in emerging technologies like AI and blockchain. He stresses the need for organizations to consider the potential consequences of these technologies on their data privacy and security, as well as their ability to adapt to the rapidly evolving regulatory landscape.

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