5 mission-critical moves Canadian CIOs can make to navigate uncertainty
In a recent roundtable I hosted with some of Canada's top CIOs, one theme dominated the conversation: uncertainty. From geopolitical tensions to economic volatility and cybersecurity to rapid technological change, CIOs face more complex challenges and risks than ever. Yet, amid this uncertainty lies opportunity — for those who pursue the right priorities.
In our latest global leadership survey, Kyndryl asked Canadian leaders about their readiness to manage risk. Their responses were telling. Although 89% of respondents demonstrated confidence in their current technology, only 34% considered themselves equipped to address future risks — and just 24% felt prepared to manage macroeconomic uncertainties.
Navigating complexity is about more than just managing risk. Progressive CIOs understand that their remit includes overall systems modernization and security, strategic adoption and deployment of AI, and championing a culture of continuous learning to close the skills gap.
Here are five strategies Canadian CIOs can implement now to future-proof their organizations.
- Reduce technical debt
The first step toward improving business results is enabling the use of advanced solutions. Legacy systems limit agility and scalability, and they are vulnerable to ongoing and increasingly sophisticated cyberattacks. In their responses to Kyndryl's Readiness Report survey, nearly half of Canadian leaders expressed concern that their IT was outdated. And while 94% of leaders said they prioritized modernization, only 29% felt they were up to date in this area.
To address this issue, CIOs should adopt a strategic, phased approach to modernization. They should prioritize updating the systems that deliver the greatest business value, while managing the reduction of technical debt. The goal is to reduce complexity by streamlining systems for more efficient operations, enhanced security and controlled costs.
- Capitalize on AI
After addressing technical debt, CIOs must lead the charge to identify where AI and automation can drive efficiencies, reduce costs and unlock new value. Modern platforms can support the solutions that automate routine tasks to free workers for more meaningful engagements. Machine learning models also can forecast demands, detect operational anomalies and support data-driven decision-making. But generating positive returns on AI investments requires a comprehensive AI adoption strategy — one that includes cultural change management and governance frameworks to help ensure the ethical and responsible use of AI.
- Drive cyber resilience
Cyberattacks are inevitable and increasingly sophisticated, so managing cybersecurity requires both proactive and responsive strategies. It is impossible to protect everything to the maximum extent all the time. So the first step toward cyber resilience involves determining which core operations are essential to business continuity. Helping to ensure the capacity to respond to and recover from threats and disruptions requires robust disaster recovery and business continuity planning. Leaders from both the business and technical sides of the organization must collaborate on these determinations — with each side remaining cognizant of the challenges faced by the other.
- Anticipate the unexpected
CIOs must also take a more structured and proactive approach to third-party risk management to safeguard operations, data, and customer trust. Conducting comprehensive third-party risk assessments includes evaluating the resilience of vendor ecosystems, identifying points of failure and exploring alternatives such as nearshoring or local hosting. Global supply chains are under increasing pressure. To help protect their organizations from disruptions, CIOs must diversify their systems, know their vendors, and evaluate and monitor risks continuously.
- Inspire culture change
Kyndryl's newly released People Readiness Report reveals that while 95% of enterprise leaders are using AI across multiple areas of their organizations, 71% say their workforce is not ready to make full use of it. Technology alone isn't enough to change an organization. Leaders must build trust in AI through skills training and incorporating AI use into daily activities across the enterprise. This must include upskilling in areas like cloud and cybersecurity, while fostering a culture of continuous learning and innovation.
The time to modernize IT systems, strengthen cyber resilience and embrace cultural change is now. Standing at the intersection of technology and business, CIOs are uniquely positioned to guide their organizations through uncertainty and change. By taking decisive action today, they can help lay the digital foundation for a more resilient, innovative future.
