The Emerging and Evolving Role of the Chief Innovation Officer

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In June, Jacob sat down with Marika Reis (ex. CIO at Maersk, Noble and E.ON) on the main stage at Innov8rs Milan for this unique, deep-dive look at the origins of the Chief Innovation Officer (CIO) role and how she expects it to evolve over the coming years. 

We explored the role of the CIO in corporate organisations and the challenges they face, including the rarity of the role in most companies, the importance of having the CIO report directly to the CEO, the need for cross-functional collaboration, the measurement of success for the role, and the dynamics between the CIO and other executive roles. We also looked at the future of the role and the challenges faced by corporate innovators more broadly.

Key takeaways:

• The role of CIO is still uncommon in most corporate organisations.
• The CIO should report directly to the CEO and have cross-functional collaboration to be effective.
• Success in the CIO role is measured by financial results and the ability to shift conversations and remove obstacles.
• The CIO should build relationships with other executive roles and understand their daily challenges.
• The future of the CIO role may involve closer collaboration with the CEO and leveraging technology for innovation.
• Challenges in corporate innovation include the negative reputation of innovation and the lack of top-level support.

Here's what we covered: 

00:00 The Evolving Role of the Chief Innovation Officer

01:53 Expectations and Success Criteria for the CIO Role

04:27 The Importance of CEO Alignment for CIO Success

05:50 Breaking Down Silos: Facilitating Cross-Functional Collaboration

21:20 The Future of the CIO Role: Closer Collaboration and Technology

23:00 Challenges in Corporate Innovation: Overcoming Perceptions and Gaining Support

PS. The recording of yesterday's Future Foundry LIVE: Using AI to Improve Innovation Experiments will be available in next week's issue of The Fold, so keep an eye out.