UK business leaders ahead of curve in integrating technology expertise

As businesses worldwide grapple with the rapid rise of AI, a new study suggests that UK businesses are best at bringing technological expertise into their leadership roles. The growing portion of women in the c-suite and boardroom is supercharging the process, according to Accenture.

Emma Kendrew, Accenture’s technology lead in the UK, commented, “Britain’s most powerful businesses have elevated their technology talent in a relatively short space of time, showing the UK is not just a place of science and technology heritage, but the home of tech leadership in Europe. With generative AI acting as the impetus for businesses to rethink their operations, it’s critical to have technology acumen at the top.”

Looking at 2,506 of the largest firms by revenue, headquartered in North America, Europe and APAC, Accenture analysed the professional background of all board members, including CEOs, to determine how many of 27,820 inside and non-executive directors were proficient in technology.

UK business leaders are already ahead of the curve in integrating technology expertise at the highest levels, by Accenture’s reckoning. More than 23% of UK business leaders are now proficient in technology – having risen quickly from 17% in 2021. This level of technology experience means the UK market continues to lead the acumen of Europe’s 16%, and North America’s 22% of executives.

Source: Accenture. Consultancy.uk analysis.            

One of the differentiators seems to be the surge in women taking up seats at the top table of UK businesses. In the UK, 41% of board members and CEOs are women, 4% year-on-year. Of those women, 30% have experience in technology. This is nearly double that of the men in the same roles, only 18% of whom bring technology expertise to their businesses.

This may prove crucial in the global race to cash in on the potential of artificial intelligence. In a sign that AI is causing a shift in the skills and composition of the c-suite in the UK, the research shows a significant proportion of leadership vacancies are now focused on data, with over 40% of c-suite job postings in the last year are data-related. Currently, the UK is behind the curve when it comes to AI expertise – with only 1% of current leaders having specific knowhow in this field, compared to 2% globally – but that gap could soon close if current trends continue.

“For a leader in a blue-chip company today, being AI literate is now table stakes,” added Kendrew. “There are concerted efforts to hire leaders in data and elevate the skills of the C-Suite to understand and unlock the value of emerging technologies. In the age of AI, it’s critical that the C-Suite lead from the front in acquiring knowledge to upskill themselves and their organisations. British businesses need to keep closing the gap between expertise being seen as the preserve of technology visionaries and show that business leaders can be fluent in technology too.”