1, I like being a CIO because...
It gives me a constant opportunity to resolve business challenges and innovate our businesses in this competitive environment. Being a CIO, gives me the opportunity to actively participate, influence the growth strategy and steer the business towards success. Whether it is driving marketing & customer engagement using Artificial Intelligence or improving delivery experience to the customer or building completely new business models using mobile & web platforms as a CIO of enterprising business gives you a constant adrenaline to keep you learning, unlearning a few & upskilling.
2, An 'Aha ' leadership moment in your professional career.
I take pride in all small and big successes that come through while performing my role. Some of these small achievements actually build the confidence & serve as building blocks to bigger milestones. The recent Aha moment, was the launch of the new NLP based customer engagement engine and Data Analytics on client portfolio which were both the first in the industry of wealth management.
3, As a CIO what was the toughest decision you made?
As CIO, tough decisions are on the table all the time. Whether to build or buy, outsource or insource, agility or control. The toughest decision are the once when you have to convince the key stakeholders of some key long term benefits which may not be visible immediately. Have faced similar situation , where a particular chat based platform would fit well in the overall tech ecosystem of the organisation v/s going for a platform which may be easy to implement but difficult to manage later on.
4, What's the 'next big thing' in your industry vertical?
In the last few years in the wealth management industry , we have seen a huge adoption of technology by all quadrants of business and clients. The digi-tech enabled wealth management business catering mass affluent segment supported with efficient conversation AI may change dynamics of the industry as with millionaires on the rise in India.
5, One thing that IT departments should do better.
Understand and empathise the challenges which business may have. It is though for that sales person to stand and convince the customer to buy your product however good the product may be as there are always another 4 equivalent options for the client at anytime .
IT should always have business-centric and customer-centric approach to resolving any challenge and finding any new solution.
6, Where do you see the CIO role heading in the future?
In this Digital and Technology age, CIO's office is in constant threat of disruption from new emerging players. The Role of CIO is changing consistently from bring the cost centers, they are now revenue generators or direct contributors to P&L even in some of the old traditional businesses.
CIOs will take on a broader, more strategic role within the business beyond tech platform implementations. CIO will spend more and more time with the business needs to achieve its goals, competing effectively and responding to the market demands.
7, One thing that CIOs should learn from business?
CIO require a significant level of proficiency in business acumen to effectively execute on the digital business strategy. CIO need to have business knowledge with technical depth, along with evangelism and leadership abilities that can be used to drive strategic corporate growth plans and increase market opportunities. To consume the data well, technology business management is vital and plays a critical role improving data quality in the organisation, hence similar controls like any other function become implied for tech data functions also.
8, The last book on your bedside and what you learnt from it.
Abundance The future is better than you think. It talks about how the progress in artificial intelligence, robotics, digital manufacturing , nanomaterials synthetic biology and many other exponentially growing technologies will enable us to make greater gains in next century and ability to meet/exceed the basic needs of every human on the planet. The main learning was that a lot times we get constrained in our experiments and thoughts by the shortage of resources. Abundance for these resources within our grasp with the new technologies in the coming century.
Abhishek Chandra featured on ET CIO from Economic Times
1, I like being a CIO because...