A high percentage of construction projects experience cost overruns or delays, where the owner is faced with issuing construction change orders, impacting the budget, timeline, and original design blueprints.
The CIO is a key stakeholder in every construction project, from integrating the latest technologies with business objectives and physical building design to upgrading IT infrastructure. However, the lack of early involvement from IT leads to inefficient project management processes, cost overruns, change orders, potential issues, and more.
The CIO must assume the role of an owner representative, ensuring technology integration aligns with the project's objectives and the owner's goals. This involves advocating for the owner's technological interests and coordinating communication between the owner and key stakeholders.
Effective communication between the owner and key stakeholders is essential for aligning technology solutions with construction objectives. Ensure that all parties are on the same page and that technology integration supports the project's goals.
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Not all organizations currently have the necessary infrastructure and expertise to adopt AI and machine learning (ML), making it challenging to prioritize their use. Additionally, fostering a culture of co-ownership across departments to enhance operations and create a customer-centric approach is difficult across business and sports operations in a legacy operating model.
Integrating AI and ML is crucial for staying competitive and driving innovation in the industry. Over 40% of sports organizations can predict match outcomes using AI, and AI can also be used to enhance game strategies and keep fans engaged (Appinventiv, 2024). This highlights the importance of leveraging these technologies and refining business and game strategies for business growth and fan satisfaction.
To fully harness the power of AI and ML, CIOs must cultivate a culture of co-ownership throughout the organization. Promoting a collaborative approach to AI and ML opportunities ensures that all departments are aligned and working toward common goals.
Develop the necessary infrastructure and expertise to support advanced technologies and strategically invest in AI and ML. By doing so, organizations can modernize their operations and stay ahead of the competition.
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The effectiveness of hyperpersonalizing fan experiences relies heavily on the quality, volume, and availability of data. Investing in robust data management infrastructure is critical yet is often not prioritized and is difficult to execute due to the number of third parties involved, causing siloed and unusable data.
Data-driven organizations are much more likely to acquire and retain fans and be more profitable. Investing in robust data capabilities is essential for driving AI-enabled hyperpersonalization, which improves the fan experience, loyalty, and lifetime value. Additionally, predictive capabilities can be enabled to customize marketing and sponsorship strategies, optimize service delivery, and increase cross-selling and upselling opportunities.
Invest in data capabilities to ensure data accuracy, accessibility, security, and appropriate use. This allows organizations to leverage data and advanced technologies to tailor services to individual preferences and predict fan behavior in real time.
Enhance data management practices by implementing AI and ML to analyze data and provide insights that drive hyperpersonalization.
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In the rapidly evolving digital landscape of sports, the increasing reliance on smart stadium operations and digital services exposes fan data, digital assets, and critical operations to potential cybersecurity threats. These threats range from data breaches and cyberattacks to disruptions in digital services, which can significantly impact game-day events' fan experience and integrity.
Protecting sensitive data and digital assets not only safeguards the privacy and security of individuals but also upholds the reputation of the sports organization. In the event of an unexpected disruption, having disaster recovery and business continuity plans ensures that operations can continue seamlessly, minimizing the negative impact on the fan experience and maintaining smooth-running events.
Implement advanced security measures that can effectively protect against cyber threats while ensuring minimal disruption to customer transactions. By establishing strong security practices, the industry can better safeguard sensitive data and maintain customer trust.
Implement regular training programs to ensure employees are aware of the latest security practices and can effectively respond to potential threats. This helps create a security-conscious culture within the organization, reducing the likelihood of breaches caused by human error.
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The entertainment industry is highly competitive, with the share of wallet shrinking every year. Sports organizations need to find innovative ways to engage fans and generate revenue. Integrating sports and betting presents a unique opportunity for venue operators, but it also comes with challenges such as ensuring regulatory compliance, maintaining the integrity of the sport, and providing a seamless and engaging fan experience.
Incorporating sports betting can significantly enhance fan engagement and create new revenue streams. By offering a unified platform that combines sports and betting, organizations can attract a broader audience and increase monetization opportunities. This approach addresses industry disruption and keeps the organization competitive in a rapidly evolving market.
Legally combine sports and betting within your jurisdiction with advanced data-driven platforms and mobile solutions. These platforms should be designed to provide seamless, user-friendly experiences, ensuring that fans can easily engage with both sports and betting.
Maintain the integrity of sports and provide a safe betting environment by implementing measures to comply with regulations, protecting both the sport and the fans.
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"Info-Tech has been so key in our transformation. Their deep research and insight has helped us to learn how to innovate and become an integral part of the business."
Steve Reese, CIO, Phoenix Suns
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