As the role of chief technology officer continues to evolve, so too do the responsibilities of those who hold the title. In fact, by 2023 CTOs will take on even more responsibilities.
Instead of focusing solely on building products and services, they’ll also have to monitor market trends, create new business models, and establish partnerships with other companies as well as customers. With that in mind, here are ten things CTOs should be doing in 2023. Read on for more details…
Comply with GDPR and General Data Protection Regulations.
The General Data Protection Regulations (GDPR) go into effect in May of this year. And while they were created to protect EU citizens’ data, they also apply to non-EU companies, meaning that CTOs need to be compliant. GDPR compliance is important not only because of the penalties associated with noncompliance, but also because it can give your company a competitive edge. GDPR compliance will allow you to provide better customer service, have access to more data, and even help you grow your business.
Partner with a ML/AI-first digital marketing agency.
As more and more people rely on the internet for shopping, communications, and information gathering, digital marketing is more important than ever before. But while it’s crucial to have a digital marketing strategy in place, CTOs should also think about how to grow that strategy in 2023. Partnering with an ML/AI-first digital marketing agency is a great way to do so, as these agencies are familiar with the latest technologies, such as machine learning and artificial intelligence.
Invest in blockchain tech and AI solutions.
As companies begin to explore the benefits of blockchain technology, CTOs will want to explore these solutions as well. Blockchain is a decentralized and transparent digital ledger that can be used to store data. It can also be used in supply chains, voting, cybersecurity, and more. With blockchain becoming increasingly important, CTOs should explore investing in solutions that feature this technology. Similarly, artificial intelligence is also important to explore. AI is software that can learn and perform tasks without being programmed. Looking for an AI solution for your business? Here’s how to choose the right one.
Establish a remote workforce.
As part of a growing trend, more and more companies are exploring a remote workforce. Having a remote workforce can help companies save money on overhead and allow them to hire people in different parts of the world. It can also allow businesses to hire people with specialized skill sets, such as programmers with disabilities. As more and more companies see the value in a remote workforce, CTOs should explore how to implement such a model within their own organizations.
Monitor upcoming technologies.
As CTOs monitor market trends 2023, they should also monitor upcoming technologies. For example, many experts predict that blockchain will become more important over time, so CTOs should keep their eyes on this technology. Similarly, artificial intelligence and the Internet of Things (IoT) are also technologies to monitor. There are many new and upcoming technologies, such as edge computing, 5G, and quantum computing, that CTOs should be aware of as well.
Continue to refine development processes.
As CTOs continue to refine their development processes, they should also look for ways to improve product development. One way to do this is by becoming a hybrid organization. Hybrid organizations blend on-premise and cloud solutions to create efficiencies while also delivering customer-facing experiences. Another way to refine your development process is to look at the broader technology ecosystem.
As you can see, there are many things CTOs should be doing in 2023. While some of these responsibilities are new, others are things that CTOs have always done. Either way, it’s clear that being a CTO is a complex role, requiring many different skills.