The problem for the average CIO, is that it typically takes a few years and a lot of money to migrate the company off a bunch of legacy systems. If those systems are absolutely critical to the company (and these exist at all firms), the migration had better be perfect... or the CIO gets pushed under the bus when problems occur and customers complain. Furthermore, after the passage of a few years, at least a few of the C board members will likely have moved jobs or retired... so the benefit of the capex spend is not seen under their watch. The annual accounts don't really show investment in IT, and most investors will have sold and be long gone by the time a new IT system comes online.
Unless the CEO begs the CIO to migrate to a new system... it's literally more than the CIO's job's worth to do anything more than tinkering.
I write this as someone who knows a lot about Amazon's cloud product (AWS), but regret how depressing it really all is...
BA's IT infrastructure will improve significantly only if Luis Gallego (no, not Sean Doyle) wants it to improve