Technology skills have surged among the UK’s most powerful boardrooms and CEOs in the last three years, ensuring the UK has the most tech-savvy business leaders in Europe, according to new research from Accenture.
The research, which analysed the professional background of every CEO and board member across the largest 2,500 companies globally, shows more than 23% of UK business leaders are now proficient in technology, which involves either having held a senior role at a technology company, responsibility for technology decisions, or exposure to areas such as AI, cloud, data, or cybersecurity. This level of technology experience has notably risen from 17% in 2021 - and jumped from 19% just last year.
In the FTSE 100, a quarter of board level executives now possess technology skills, a 12% CAGR (combined annual growth rate) increase in just three years. When analysing the C-Suite specifically, nearly one in five (19%) CEOs in FTSE 100 businesses have technology experience, indicating the role technology is playing to transform the UK’s listed businesses.
By comparison, Europe as a whole saw two percentage points of growth year-on-year, with 16% of board-level and C-suite executives having technology acumen today. The UK’s most senior executives lead all other countries in Europe for technology skills, followed by France – which grew their 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.
The research also finds that the growing number of female business leaders is helping to boost a company’s technology knowledge base. Two in five (41%) UK board members and CEOs are women, up four percentage points year-on-year. Of those women, nearly a third (30%) have experience in technology. This is nearly double that of their male counterparts, where 18% of them bring technology expertise to their businesses.
Emma Kendrew, Accenture’s Technology lead in the UK, said, “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. It’s hugely encouraging to see the experience women in technology are bringing to leadership teams today. 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.”
Hiring Heats Up to Boost ‘Byte-Sized’ AI Skills at the Top
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. Over 40% of C-suite job postings in the last year are data-related, as UK businesses look to recruit for roles such as a Chief Data Officer, according to Accenture analysis of Lightcast global job postings data. Likewise, 5% of FTSE-100 companies are currently recruiting for strategic positions in data and AI. Currently, the number of UK-based business leaders with explicit expertise in data and AI is 1% - which is in line with the global average of 2%.
“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.”
