CIOs Face "Silent Crisis" as Legacy Costs Stifle Innovation
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Contributed by: Bill Russell
Summary
Suvajit Basu addresses critical challenges within enterprise technology that Chief Information Officers (CIOs) are often hesitant to acknowledge, categorizing them as a "silent crisis." He notes that 75% of innovation budgets are consumed by maintenance costs, technology stacks have become outdated, and advanced digital infrastructures are being built on unstable foundations, resulting in significant missed opportunities. To combat these issues, Basu recommends organizations first map their existing technology landscape to understand legacy system maintenance costs, followed by establishing a "future team" dedicated to modernization efforts with clear retirement goals for outdated technologies and a focus on fostering accountability and continuous improvement.
