It’s safe to say that technology has significant influence on how businesses handle operations and customer interactions. According to the Business Software Market Size report issued by market researchers Mordor Intelligence, the global market size for commercial software is projected to reach $650 million this year and $1.10 trillion by 2029.

And that’s just software. Organizations must also contend with technological issues such as hardware, skilled labor, strategy, and cybersecurity. Just one of the resulting demands that this pressure is putting on businesses is the need for technology leadership positions within their organization.

If your organization has grown to the point where it could use an executive-level employee with specialized knowledge of and laser focus on technology issues, you have plenty of options.

Technology Leadership Positions To Consider

Here are some of the most widely used position titles for technology executives:

Chief Information Officer (CIO)

This person is typically responsible for managing an organization’s internal IT infrastructure and operations. In fact, an easy way to remember the purpose of this position is to replace the word “Information” with “Internal.” A CIO’s job is to oversee the purchase, implementation, and proper use of technological systems and products that will enhance the efficiency and productivity of the business.

Chief Technology Officer (CTO)

In contrast to a CIO, a CTO focuses on external processes — specifically with customers and vendors. This person usually oversees the development and eventual production of technological products or services that will meet customer needs and increase revenue. The position demands the ability to live on the cutting edge by doing constant research into tech trends while also being highly collaborative with employees and vendors.

Chief Digital Officer (CDO)

For some organizations, the CIO and/or CTO are so busy with their respective job duties that they’re unable to look very far ahead. This is where a CDO typically comes into play. The primary purpose of this position is to spot new markets, channels, or even business models that the organization can target, explore, and perhaps eventually profit from. So, while a CIO looks internally and a CTO looks externally, a CDO’s gaze is set on a more distant horizon.

Chief Artificial Intelligence Officer (CAIO)

Did you really think you were going to make it through a technology article without reading about AI? Yes, more and more businesses are taking on executives whose primary responsibility is to create the organization’s overall AI strategy and make sure it:

• Aligns with the business’s overall strategic goals, and
• Enhances the organization’s digital transformation, which many businesses are continuing to undergo as they adapt to new technologies.

 
CAIOs are also typically responsible for understanding the global and national regulatory environments regarding AI, as well as making sure the business uses AI ethically.

Big Decision

Adding an executive-level position to your organization is clearly a big decision. Along with making a sizable outlay for compensation and benefits, you’ll likely spend considerable time and resources on the search and onboarding processes. So be sure to discuss the matter thoroughly with your existing leadership team and professional advisors. Contact us for help identifying and projecting all the costs involved.