Dubai – The 17th IDC Middle East CIO Summit, which […]

A global annual survey of Chief Information Officers (CIOs) by Lenovo reveals that despite economic headwinds and IT budget challenges, the world’s CIOs are bullish about the power of technology to deliver value for their organizations.

Computing an enterprise’s breach likelihood leverages technology that is not alien to the BFSI sector. Machine learning-enabled predictions are already being deployed in insurance, employee welfare and customer experience. A large online payments system uses deep learning, algorithms, multi-class models and more to sieve fraudulent and genuine transactions by deriving actionable insights from their story-model analysis.

Data silos, legacy systems, and insufficient technical capabilities often feel like an anchor preventing organizations from moving forward. All of this has implications for the Chief Information Officer (CIO). Increasingly considered by CEOs as a key ally in their organization’s digital transformation journey, more and more CIOs are being tasked with reconceptualizing and embedding resilience in their organization.

Modernizing systems can and should serve as an opportunity for companies to reevaluate timeworn and inefficient processes and update them. One way that companies modernize their systems is by updating their enterprise resource planning (ERP) and other integrated management systems. Increasingly, these systems can help companies by providing ways to create more value by delivering improved processes.