Kim Tae Keuk, the CIO of LG Electronics gets it.
"A lot of CEOs want their CIO to be a business partner, not just a master technician. One way to do that is to become true experts at the company's business processes and then help innovate those processes"
To me, the business value of Unified Communications comes when UC is integrated into business processes leveraging vendor-agnostic integration software such as Nortel's ACE. It's all about accelerating these business processes by reducing human latency.
Kim is right when he says that CIO can mean Chief Innovation Officer... and software-centric UC can be a key enabler.