CDO’s are band-aids to bridge the Digital Chasm.
There has been great hype around CDO’s globally and as I was one for a number of years for multi billion dollar firms I can understand why.
Ever notice that startups and the large tech giants DON’T have CDO’s. Why? Because they were born digital. Unlike legacy firms who carry their current tech, structure, product and strategy like an anchor.
Enter the CDO. The elixir of digital success. The pixie dust of transformation. The ask is immense and my prediction is that most will fall because it’s a bridge too far with no support or resources. They are always fighting for market access and battling resource contention with no priority.
My advice is rather to get boards and EXCO’s appointed with digitally competent executives and to build the digital capability of existing members. They should then architect a new operating model with customers at the center. But that takes time and bravery both of which seem to be in short measure today.