To lead a technology team, immerse yourself in the business first

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Leading a technology team these days — whether you’re a chief information officer, chief innovation officer, or other IT manager — is no longer a matter of corralling programmers and administrators into a common purpose. Now, CIOs and other tech leaders need to corral the rest of the business into their orbits as well. The question is: Are IT teams still too entangled in managing infrastructure, applications, and related security issues to lead their businesses down new paths?  

Also: 5 ways to prepare for the impact of generative AI on the IT profession

Technology leaders such as CIOs are increasingly tasked with running the business and moving it forward, a recent Deloitte survey of 211 CIOs confirms. Close to half of the respondents, 46%, report their greatest priority this year is shaping, aligning, and delivering a unified tech strategy and vision. 

In addition, they have high visibility, and many roles beyond the CIO are now involved. Nearly two-thirds (63%) say they report directly to the CEO. Transformation and innovation also topped to-do lists of tech heads, at 59%. A majority of tech leaders, 54%, consider themselves to be change agents. Currently, 83% of organizations have either a CIO or chief digital information officer, 52% have a chief technology officer, 31% have a chief information security officer, 30% have a chief data analytics officer, and 22% have a chief technology innovation officer. 

Moving into these technology leadership roles means “not only have a firm grasp of the tech landscape and the capabilities available, but they are becoming fully immersed in the business and market trends, Anjali Shaikh, managing director and CIO program experience director at Deloitte Consulting, told ZDNET. “This ability to be ‘bilingual’ puts tech leaders at a clear advantage within the business because they

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5 Ways ChatGPT Can Help Your Business

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When ChatGPT was introduced last year, businesses across all industries seemed to stop and take notice while urgently scrambling to figure out how best to leverage the groundbreaking tech.

For those who are still looking at the AI-powered chatbot with curiosity, there are some tried and true steps that any business leader can take to use it for improved business strategy, streamlined production, and better programming.

From there, a savvy leader can find endless routes toward leveraging the tech for increased profits and improved productivity. In the meantime, here are five tips to use ChatGPT to improve your business.

1. Generate an improved business plan.

Whether you have a business on the rise or one that’s been up and running for a while, you should always be on the lookout for ways to improve. ChatGPT is an excellent resource for scouting new ideas and analyzing existing ones.

Is your budget as efficient as it can be? Are your resources allocated in a way that’s well-balanced and most appropriate for your business? Is your five-year plan as robust and thoughtful as possible?

These are all examples of questions that you can ask ChatGPT. Business leaders from around the world have found useful tips and ideas from this exact practice, so anyone who isn’t at least trying is failing to make the most of the resources they have around them.

2. Scale up programming and coding.

ChatGPT is a reputable coding machine. Whether you’re looking for a block of code in a given language to add new functionality to a landing page or a

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16 Ways Leaders Can Leverage Tech To Drive Business Transformation

From increasing AI use to developments in automation, technological progress in just the previous couple years are pushing businesses toward earlier uncharted territories. Trying to keep up with and keeping ahead of competitors will require business leaders to carefully recognize and embrace know-how as a suggests of growing operational effectiveness and productiveness.

With so a great deal technologies previously readily available and extra continuing to emerge constantly, acquiring a perfectly-thought-out tactic to make the most of these resources to their fullest potential will enable organizations to proactively navigate difficulties as they crop up. Under, 16 Forbes Enterprise Council users each individual share a person way leaders can leverage technology to push enterprise transformation.

1. Foster A Lifestyle Of Innovation

One method that has demonstrated productive for our groups is fostering a lifestyle of innovation. By empowering individuals to experiment with rising tendencies and technologies, we unlock their potential to revolutionize our functions, products and companies. Embracing a advancement state of mind and encouraging cross-purposeful, holistic collaboration has allowed us to leverage new strategies correctly. – Mike Vietri, AmeriLife

2. Motivate Collaboration On Electronic Initiatives

A single effective way leaders can use technological know-how to push organization transformation is by empowering staff to collaborate on electronic initiatives. In my encounter, this solution has boosted general performance and engagement, fostering a proactive and inclusive office society. Utilizing transform “with” somewhat than “to” workers turns skeptics into advocates and allows drive and maintain innovation. – Mark Protus, Protus Consulting

3. Undertake Collaborative Resources

Leveraging tech for organization transformation is very important. In my expertise, adopting collaborative resources like Slack or Microsoft Groups appreciably enhances interior conversation and speeds up venture execution. These platforms permit for authentic-time collaboration and effortless integration with other efficiency equipment. This can renovate workflow dynamics and

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How to Build a Sustainable, Future-Ready Tech Business

Thoughts expressed by Entrepreneur contributors are their individual.

A paradigm shift from traditional SaaS designs to company-based mostly strategies heralds a new period for tech startups, primarily in the realm of synthetic intelligence (AI). This transition is not just a craze but a strategic response to the present market’s requires for improved funds movement administration, scalable operations and the requirement to accommodate a burgeoning remote workforce.

The transition to provider-primarily based versions is driven by the need to produce more sustainable and manageable progress trajectories. Traditional SaaS styles concentrate on fast scaling and consumer acquisition, typically at excellent price tag and with a extensive path to profitability. In contrast, service types emphasize generating benefit by tailor-made options that cater to unique client wants, boosting shopper fulfillment and loyalty. This method not only aligns with modern-day money movement sensibilities but also leverages the state-of-the-art capabilities of AI to provide dynamic, clever options that expand and evolve with purchaser requirements.

AI’s part in this shift cannot be understated. It automates and enhances procedures throughout various business enterprise operations, from shopper provider handled by highly developed chatbots to intricate info examination and conclusion-generating supported by equipment learning algorithms.

Ogilvy harnesses AI to drastically streamline and enhance a variety of typically human-intensive responsibilities within just its promoting and advertising and marketing operations. AI equipment at Ogilvy assess purchaser information to craft really qualified marketing and advertising strategies, optimizing advert placements and information personalization. This technological integration allows for larger effectiveness in marketing campaign management, primary to sharper insights and improved results.

These technological advancements allow for organizations to supply unparalleled levels of company and customization, environment them apart in competitive markets. By decreasing labor expenditures and reducing mistakes, AI can help corporations realize a leaner, a lot more economical procedure, liberating up methods to

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Is Spotify Technology Stock Outpacing Its Business Services Peers This Year?

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Spotify (NYSE:SPOT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company’s year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Spotify is one of 315 individual stocks in the Business Services sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Spotify is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for SPOT’s full-year earnings has moved 33.9% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Our latest available data shows that SPOT has returned about 61.3% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 7.4% on average. This means that Spotify is performing better than its sector in terms of year-to-date returns.

Another Business Services stock, which has outperformed the sector so far this year, is Inter & Co. Inc. (INTR). The stock has returned 10.1% year-to-date.

Over the past three months, Inter & Co. Inc.’s consensus EPS estimate for the current year has increased 6.6%. The stock currently has

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Breaking Boundaries: How Process Analytical Technology Benefit Any Manufacturing Business

The concept of Process Analytical Technology (PAT) may not be familiar to manufacturers and processors outside the (bio)pharmaceutical industry, but they may already be leveraging aspects of it. By knowing what PAT frameworks can offer, businesses can take key steps to implement these value-adding elements into their practices. This can not only enhance their quality-to-cost ratios and profitability, but also effectively futureproof their operations.

Chris Vickers, Global Sales Manager at Optimal Industrial Technologies, looks at what PAT is and what it can deliver to manufacturers across various sectors.

The origins of PAT can be traced back to the early 2000s. This is when the U.S. Food and Drug Administration (FDA) introduced an initiative aimed at promoting a system of analysis and control strategies to monitor production processes in real time. The ultimate goal of this programme was to encourage pharmaceutical manufacturers to modernise their processes and adopt more science-based approaches to ensure product quality, and ultimately, patient safety.

Real-time monitoring of product properties, data analytics, process control, Quality by Design (QbD) and regulatory compliance represent the key pillars of PAT frameworks. While they fall into the domain of PAT in the (bio)pharmaceutical industry, these elements are also used in other industries by many companies leveraging process and factory automation. These include chemical facilities, as many of them use on-line monitoring for control purposes.

More than process control

The individual PAT components mentioned above are rapidly growing in popularity, especially as more industry players embark on digital transformation projects. However, while the adoption of even a single element can deliver benefits, the creation of a complete PAT setup can add considerable value to the operations of any manufacturer – whether they are serving the (bio)pharmaceutical or other markets.

The on-line monitoring systems typically used in the chemical sector, for instance, are

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