The Chief Technology Officer (CTO) is responsible for overseeing the technological direction of a company. This includes developing and implementing technology strategies that align with business goals, ensuring that the organization stays competitive in the market. The CTO also evaluates new technologies and manages the IT team to ensure efficient operations. Additionally, the CTO plays a key role in fostering innovation within the company. They collaborate with other executives to identify opportunities for growth and improvement, while also ensuring that the company's technology infrastructure is secure and scalable. This involves budgeting for technology investments and managing vendor relationships.