Feel good factor
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CIOs are getting more optimistic about the economic outlook.
Painful memories of the IT downturn may still be fresh, but CIOs' capacity for optimism is undimmed.
The first annual survey of its kind by CIO Connect, a forum for UK CIOs, has found IT executives are optimistic about the economic outlook, despite fears over terrorism and political uncertainty.
But seven out of 10 have no plans to increase IT investment in 2004 and the vast majority think IT suppliers need to do better. Disappointments cited by the respondents included suppliers' failure to live up to promises and an excess of arrogance and flattery.
The survey found that CIOs are responding to this situation by actively seeking fewer, more strategic partnerships that deliver better value to their businesses.
"Given my responsibility for technology, I can well relate to many of its findings," says Chris Burke, CTO of Vodafone, which sponsored the survey.
Cornelia Varney, CIO Connect's head of research and the author of the report, says CIOs face different challenges from those they faced even two years ago.
"Many of these involve apparently contradictory and conflicting priorities, such as taking risks while also minimising them and innovating with IT at the same time as reducing costs," she says. "Resolving these paradoxes inherent in the job of CIOs is perhaps the most difficult of all challenges."
