2 weeks Ago By By The Newsroom
Scotland is home to a fast-growing technology sector. It’s burgeoning data and AI ecosystem, as well as established fintech scene, and exciting innovations in health, and energy, among others, has helped to attract talent and propel Scotland’s digital technology sector to grow faster than the economy as a whole. However, it’s not just start-ups with tech talent at the helm, because major businesses are getting a tech twist too.
As organisations look to reinvent how they operate with emerging technology, and drive more value from data and AI, new Accenture analysis shows there's been a big change in the boardroom: CEOs and board members are much more tech-savvy than they used to be. After analysing the professional background of CEO and board members from the largest companies around the world, Accenture found that the UK saw a significant surge in technology skills at the top table – and is placed ahead of all other countries in Europe . More than 23 per cent of UK business leaders have technology skills today, up from 17 per cent in 2021.
Notably, one in four UK FTSE 100 board-level executives are now proficient in technology (after a 12 per cent CAGR increase in three years). More British business executives now have either held a senior role at a technology company, been responsible for technology decisions, or had exposure to areas such as AI, cloud, data, or cybersecurity. By comparison, 16 per cent of board-level and C-suite executives across Europe have technology acumen today.
It’s perhaps then not surprising to learn that hiring is now heating up for technology leadership too. In the UK, research shows over 40 per cent of C-suite job postings in the last year were data-related. Major engineering companies and banks in Scotland are currently recruiting for Chief Data Scientists and AI leaders, with 5 per cent of FTSE-100 companies currently recruiting for strategic positions in data and AI.
Scottish organisations are in a particularly strong position to capitalise on tech leadership. Edinburgh continues to shine as one of the UK’s strongest data capitals and is consistently rated highly on its data and AI capabilities, ranking within the top ten cities in Europe. However, as decisions on generative AI sweep the boardroom, I believe all business leaders in Scotland will need to be literate in digital and AI technologies to make strategic decisions and guide growth.
As AI changes the tasks people do and how businesses operate, as leaders become fluent in technology – they must ensure all workers are too. Digital skills among all workers are crucial to capture the growth opportunity of AI. National skills body, Skills Development Scotland, has already set out the challenge ahead for the country, which includes combatting the technology skills shortage, diversifying the digital economy, removing scale-up barriers, and securing the porous skills pipeline.
It’s up to those at board level to demonstrate their own expertise, lead from the front, and empower their organisations to foster a culture of continuous learning. Most organisations realise that technology acumen at the top is no longer optional – it’s an essential futureproofing move. Helen Lindsay, Managing Director, Talent & Organisation, Accenture Scotland.
