Or is it the other way around?
It goes both ways. You can't do one properly without the other. The challenge is how CIOs manage this reality when the "I" in their title is often a misnomer? CIOs seemingly have all the responsibility for information, but often none of the authority. Cloud computing presents a new opportunity to refine the responsibilities more clearly and to move the authority onto data stewards, unless the institution explicitly places the CIO in charge of "information" as well as "technology."
In this next chapter, I hope to stimulate discussion on precisely these points. The discussion  will be on-going for some time, I suspect, as many institutions and colleagues work through the transition from managed infrastructure and information to "the cloud."
On a more practical note, Dan Solove and I are hosting a game of "privacy pick up basketball" at his place, George Washington University Law School in Washington, D.C. on May 4, sponsored by his school and Cornell. Registration is required but attendees pay not fee. We welcome everyone who wants to come join this conversation. More information may be found here.