Leveraging Technology for Sustainable Business Growth: Balancing Innovation and Stability

Artificial intelligence and automation are two technologies that will have a significant impact on business productivity. Conor Whelan, chief information and operations officer at Experian, highlights how automation is integrated into its core initiatives.

The challenge of balancing creativity and stability

While innovation is critical to staying competitive, businesses must ensure stability and protect their core business. Andy Caddy, Group CIO at PureGym, emphasized the importance of finding the right balance between driving innovation and maintaining the core business of the organization.

However, warns Christina Scott, OVO Energy’s chief product and technology officer, “the risk in a downturn is that you go into full cost-cutting mode.” This approach can hinder the organization’s ability to recover and thrive in the long term.

Instead, technology leaders must continually reassess their business strategies and ensure they are investing in new solutions that both sustain their core businesses and drive growth.

Develop efficient and suitable organizations

Paul Smith, Amnesty International’s CIO, highlights the importance of having an “agile mindset” to respond effectively to external events and challenges. “Problem management and efficiency are becoming commonplace for us,” he said.

By adopting a more agile approach, businesses can better navigate uncertain times, respond more quickly to emerging opportunities, and drive innovation across the organization.

Collaborating and breaking down silos

Cultivating a culture of collaboration and breaking down silos within an organization is critical to maximizing the potential of technology to increase productivity. According to Brackenborough Global CISO, from Channel 4, technology leaders must focus on implementing solutions that benefit the entire organization rather than meeting the needs of individual departments.

Technology has the power to unlock significant business productivity gains, but only if organizations take a strategic and forward-thinking approach to implementation. By focusing on data-driven insights, leveraging AI and automation, striking a balance between innovation and stability, fostering agility and adaptability, and promoting collaboration across departments, businesses can use technology to drive productivity and growth.

As Leon Gauhman, chief product and strategy officer at Elsewhen points out, organizations need to leverage the data they already have to drive innovation.

In conclusion, sustainable business growth requires a balanced approach to technology adoption that fosters innovation while maintaining stability. By embracing agility, adaptability and collaboration, organizations can unlock the full potential of technology.