The IT profession has long been blessed with a surfeit of acronyms, many of which have been coined in sometimes convoluted ways to retain uniqueness. But one of IT’s key, longstanding acronyms is increasingly being used to refer to an upstart, as today you’re apt to find that CIO no longer just stands for chief information officer, but chief innovation officer as well.
And, depending on whom you talk to, some with the word ‘innovation’ in their title posit that they might someday supplant the traditional CIO.
In the meantime, with the velocity of innovation and disruption increasing as data and technology become more widely leveraged in business, a solid relationship between the chief information officer and chief innovation officer is critical, says Patrick Sells, chief innovation officer at digital bank Quontic.
“These two roles are symbiotic in nature, and I would posture that over time, the chief information officer may evolve into the chief innovation officer ultimately, in corporate America,’’ Sells says.