In order to deliver on this bimodal future, CIOs are planning for significant change in 2014 and beyond:

• A quarter have already made significant investments in public cloud, and the majority expect more than half of their company's business to be running over public cloud by 2020.

• Seventy percent of CIOs plan to change their technology and sourcing relationships over the next two to three years, and many are seeking to partner with small companies and startups.

• Forty-five percent of companies have implemented agile methodologies for part of their development portfolio, although most need to go further to create separate, multidisciplinary teams, with lightweight governance and new, digital skillsets and alternative sourcing models.

"If this transition succeeds and CIOs and their businesses 'tame the digital dragon,' massive new value for businesses can be created, and with it, a renewed role and greater credibility for the CIO and the IT organization," said Mr. Aron. "However, if the dragon isn't tamed, businesses might fail and the relevance of the IT organization will almost certainly disappear."
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