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Study: 3 in 10 CIOs piloting IoT solutions

CIOs from a range of industries have given an indication of their current and future technology investment plans via a new Barclaycard survey.

Some 30% of CIOs from the 100 execs questioned for the research said their business is piloting or using Internet of Things (IoT) solutions, while 56% said they are planning to implement such projects within the next five years.

The study found that 35% of CIOs have adopted or are piloting blockchain technology in some form to provide greater transparency and increased security for data, while 45% are using or testing artificial intelligence (AI). A further 43% are planning to adopt AI in the next five years.

One in five are also using or testing quantum computing, which analysts and retail industry tech leaders, such as Ocado CTO Paul Clarke, predict will be one of a range of transformational technologies seriously reshaping business and society in future years.

Four in ten CIOs said payments are a key focus, while 70% noted that more payments data would improve their decision-making.

Barclaycard’s survey indicated that 42% of UK businesses have bolstered research and development, with three-quarters adopting agile working to speed up organisational change. Some 78% recognise they need a wider skill set than they did five years ago.

Factors driving this transformation, according to the CIOs, are improved business intelligence and sales efforts – while there is an acknowledgement that greater connectivity between people and devices is a fundamental factor in enhancing operational efficiencies.

Keith Little, CIO at Barclaycard, remarked: “While technology developments like artificial intelligence and the Internet of Things have been the subject of much discussion in recent years, our data shows this isn’t just hype.

“In fact, many CIOs are already well under way with testing and implementing such technologies to benefit their business. AI and machine learning, for example, are opening up new capabilities to benefit customers, such as fraud detection and customer insights.”

As the technology currently in pilot stage becomes mainstream over the next five years, Little added, CIOs must prioritise building the skills and expertise of their employees.

Barclaycard’s CIO survey was conducted in the UK by YouGov between 13 September and 12 October 2018, involving CIOs from companies with 250+ employees. 

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