UK business leaders are ahead of the global pack when it comes to integrating technology expertise at the highest levels, according to research from Accenture.
A new study from the consultancy, which analysed the professional background of every CEO and board member across the largest 2,500 companies globally, found more than 23% of UK business leaders are now ‘proficient’ in technology, up from 17% in 2021.
This means they’ve either held a senior role at a technology company, had responsibility for technology decisions, or been exposed to areas such as AI, cloud, data, or cybersecurity.
Accenture’s study noted this puts them ahead of the curve in global terms, with only 16% of European executives and 22% of North American executives saying the same.
“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,” said Emma Kendrew, Accenture’s technology lead in the UK.
“With generative AI acting as the impetus for businesses to rethink their operations, it’s critical to have technology acumen at the top.”
In the FTSE 100, a quarter of board level executives now possess technology skills, a 12% compound annual growth rate increase in just three years. And in terms of the C-Suite specifically, nearly one-in-five have technology experience.
By comparison, Europe as a whole saw just two percentage points of growth year-on-year, with 16% of board-level and C-suite executives having technology acumen today. Indeed, the UK’s most senior executives lead all other countries in Europe for technology skills, followed by France, which grew its technology skills base by six percentage points year-on-year to 20% today.
In North America, 22% of senior executives across the region have technology skills.
Diverse C-suites build tech expertise
Accenture’s research also found that hiring more female business leaders helps boost a company’s technology knowledge base. Four-in-ten UK board members and CEOs are now women, up four percentage points year-on-year, with nearly a third having experience in technology – almost twice as many as their male counterparts.
“It’s hugely encouraging to see the experience women in technology are bringing to leadership teams today,” Kendrew said.
“With organisations completely focused on long-term growth, diverse teams bring in a range of experiences that drive innovation. Emerging technology, like AI, can benefit all sectors and regions in the UK.”
The study also found AI is causing a shift in the skills and composition of the C-suite in the UK. More than 40% of C-suite job postings in the last year are data-related, as UK businesses look to recruit for roles such as chief data officer.
Meanwhile, 5% of FTSE-100 companies are currently recruiting for strategic positions in data and AI.
“For a leader in a blue-chip company today, being AI literate is now table stakes. 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,” said Kendrew.
“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.”