CIOs/CTOs need to catch up with CEOs’ intent to invest in Web3 building blocks

Global 2000 CIOs and CTOs must get closer to their CEOs’ ambitions to invest in the technologies that will help them take the leap into Web3 and the metaverse. While both camps share a similar intent to invest in Web3/metaverse (15% of CTO,CIOs rank this among their top three technologies to invest in, with CEOs at 14%), there are big gaps between the parties when it comes to investing in the Blockchain, Augmented and Virtual Reality, and Quantum computing – all technologies required to enter the new world of Web3 and the metaverse.

• Only 15% of CIO, CTOs expect to make Blockchain a ranking 1, 2 or 3 an investment priority in the next 12 to 18 months, compared with 26% of CEOs.
• Only 12% of CIO, CTOs are placing a rank 1-3 priority on Augmented Reality and Virtual Reality (AR-VR). While CEOs (21%) indicate an intent to invest is almost double that of their CIOs and CTOs.
• Plans to invest in quantum computing – key to the compute power required for Web3 and beyond – vary significantly. 23% of CEOs have it in their rank 1-3 priorities for investment in the next 12-18 months. Just 11% of CIOs and CTOs share that view.

The Bottomline: CIOs and CTOs must catch up with CEO expectations to capitalize on Web3 and metaverse opportunities as they emerge

CEOs are taking a pragmatic and strategic approach to Blockchain and VR-AR investments. While both technologies are building blocks for Web3 and metaverse (read our POV – Web3 will go mainstream – when to expect it and how to prepare), they also deliver value now in a range of use cases from supply chain resilience to virtual training and onboarding. The pragmatism of those tech investments leaves room for more speculative investments in quantum – without which Web3 is unlikely to get off the ground. CIOs and CTOs need to align themselves with the view from the top to provide the future-facing support CEOs have recognised they need.

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