The technology deficit in Boardrooms is a major risk – and lost opportunity – internationally. Clearly the risk of cyber-attack and information security breaches is omnipresent and growing, and companies are suffering financial and reputational damage as a result. Cybersecurity is a concern for both regulators and investors and it is a principal risk in any risk matrix. Most companies have their own cyber experts, but they seldom sit in the Boardroom. And there is a real challenge that communication with the Board on technology issues is not what it should be, with technologists and Boards at times speaking different languages. This Overture draws upon recent research undertaken by Fidelio and explores both the extent of the technology gap in the Boardroom and how this gap can be closed or reduced including:
Bridging the technology gap
Cyber risk - omnipresent and potentially catastrophic
A major concern for regulators - and for investors
The cyber challenge for the Board
The Board challenge for the CISO
Why the gap?
Closing the gap
The opportunity for the Board
There is no silver bullet but there are two key areas where Boards can make significant progress:
First, ensure pro-active management of the organisation’s technology talent, including identification and development of high-potential individuals. This extends to increasing their understanding of the work of the Board.
Second, ensure that each new Board appointment is treated as an opportunity to increase the level of digital awareness in the Boardroom. There are traits such as technology curiosity that should be demonstrated by all new Board Members including non-technologists.
To read more about closing the technology gap in the Boardroom, click here.