In the ever-evolving landscape of technology, Chief Technology Officers (CTOs) play a pivotal role in steering organisations toward innovation and growth.
Deazy's "State of Development Landscape and Trends for 2024" eBook delves into the minds of these leaders, capturing insights through independent survey research involving 100 UK-based CTOs.
The findings, which illuminate key challenges and opportunities, offer a unique glimpse into the current and future state of tech development.
Introduction from Andy Peddar, Deazy’s co-founder and CEO
“In a world marked by relentless technological transformation, Chief Technology Officers (CTOs) are at the forefront of driving innovation and ensuring that organisations stay ahead in a rapidly changing landscape. CTOs play a crucial role in strategising and implementing the adoption of new technologies They are tasked with managing digital transformation efforts, and making informed decisions about digital investments.
Due to their unique position and understanding of digital transformation, these leaders have invaluable insight into emerging trends and their potential impact. In essence, CTOs are key drivers of technological advancement, positioning organisations to embrace the future and seize opportunities. That is why, understanding their viewpoint about current and future trends is invaluable to any business leader.”
Unveiling the insights:
Finding 1: Bridging the Developer Gap
The first revelation from the eBook is stark: 72% of UK CTOs believe there is a lack of quality developers in the UK. The demand for top-tier talent collides with a shortage, presenting a multifaceted challenge.
When asked why this shortage exists, CTOs pointed out 3 key factors:
Educational Bottleneck: 52% attribute the lack of developers to shortcomings in the UK education system. CTOs specifically emphasise a misalignment between industry demands and educational paths.
Tech's Breakneck Velocity: 50% cite the relentless pace of innovation as a challenge. The continuous change experiences within the industry, leaves CTOs and developers grappling to stay ahead in their field.
Diminished Appeal of the UK: 44% express concerns about the declining allure of the United Kingdom, impacting the recruitment and retention of top-tier talent.
Understanding these dynamics is crucial for business leaders navigating the talent landscape in the tech industry. It not only highlights challenges but also calls for a collective effort to bridge the gap between industry demands and the education system.
Finding 2: Cybersecurity Concerns Persist
The second finding underscores the ever-present threat of cyber attacks.
In 2023, 52% of CTOs identified cybersecurity as their foremost concern, keeping them up at night, echoing the figures from the previous year’s ebook. The repercussions of a cybersecurity breach extend beyond monetary damages, causing business halts and tarnishing a company's image.
As customers entrust businesses with their data, CTOs must stay vigilant and at the forefront of cybersecurity best practices to safeguard against potential threats. These findings illuminate the ever evolving nature of cybersecurity threats and just how important it is for organisations to invest in robust cybersecurity measures.
Business leaders, who are mindful of building longevity within their organisation, must prioritise cybersecurity in their strategic planning.
Finding 3: The Challenge of In-house Capacity
Beyond external threats and talent shortages, managing in-house capacity and IT resources emerges as a mounting challenge for CTOs.
A 33% year-on-year increase reveals that 44% of CTOs now grapple with securing the necessary IT resources to manage ongoing projects. This challenge has transformed from a concern to a significant obstacle, with 44% of CTOs citing it as the biggest roadblock for tech project execution.
The digital skills gap exacerbates these issues, necessitating new resource management strategies to address this growing challenge.
This finding casts a spotlight on the pivotal role resource management plays in the successful execution of digital projects. As leaders embark on their digital transformation journeys, the demand for skilled professionals and adequate development capacity has reached a critical juncture.
As we've uncovered just three of the nine insightful findings from Deazy's eBook, it's evident that the business leaders must take a wide variety of threats and opportunities into account when planning for the year to come.
To gain a deeper understanding of these factors, download out full "State of Development Landscape and Trends for 2024" eBook here.
The ebook tackles topics such as:
- The rising role of AI within organisations
- The importance of in-house training for team retention
- The wide variety of benefits offered by team augmentation
In a world where technology shapes the future, insights from CTOs provide a compass for businesses navigating the digital frontier. The eBook not only presents challenges but also sparks essential conversations about the future of innovation and the collaborative efforts needed to overcome these challenges.