More than two-thirds (68 percent) of organisations in Asia Pacific (APAC) are adapting their technology strategy because of unprecedented global political and economic uncertainty, according to the 2017 Harvey Nash/KPMG CIO Survey.
However, the majority is maintaining or ramping up investment in innovation, including in digital labour.
More than half (57 percent) of them in APAC are investing in more nimble technology platforms to help their organisation innovate and adapt.
Forty-six percent of all CIOs in APAC are currently investing in, or planning to invest in digital labour, cognitive automation or robotic process automation.
"The 2017 Harvey Nash/KPMG CIO Survey highlights that many technology executives are turning this uncertainty into opportunity and are becoming the driving force in making their organisation more nimble, and digitally innovative," said Nick Marsh, managing director, Harvey Nash Executive Search APAC.
"Organisations have moved on from a world of strategising and talking about digital, to one in which they are actually making it happen: we are now seeing widespread and active implementation," said Ram Lakshminarayanan, partner, Management Consulting at KPMG in Singapore.
CIO leading digital transformation
In terms of leadership, 20 percent of CIOs reported that their organisations have 'very effective' digital strategies.
Seven in 10 CIOs believe that their role is becoming more strategic. Almost all (92 percent) of them joined a board meeting in the past 12 months.
CIOs at these digitally-enabled organisations are almost twice as likely to be leading innovation across the business (41 percent versus 23 percent), and are investing at four times the rate of non-leaders in cognitive automation (25 percent versus 7 percent).
IT projects becoming more complex
The study also revealed that 61 percent of CIOs are finding IT projects becoming more complex than they were five years ago. Weak ownership (46 percent), an overly optimistic approach (40 percent), and unclear objectives (40 percent) are the main reasons IT projects fail.
Over a quarter (27 percent) of CIOs also said that a lack of project talent is the cause of project failure, but project management skills are completely absent from the CIOs top list of technology skills needed in 2017, dropping a staggering 19 percent in one year.
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