Accenture report says Ireland ranks second in Europe for tech expertise on company boards
Ireland ranks second in Europe when it comes to technology experience on boards, new research from Accenture has found. Falling just behind the Netherlands (19.1%), and marginally ahead of the UK (18.8%), 18.9% of Irish boards have members with technology expertise.
The report, Innovate or Fade – Addressing the European Technology Deficit, has revealed that technology experience has increased within Irish companies’ boardrooms, with more than a two percent growth since the last report in 2021 (from 16.2% to 18.9%). Ireland’s standing is well above the European average, which has increased by almost three percent, from 11.5% in 2021 to 14.4% currently.
When compared with the US, European organisations are lagging behind – just 14% of European companies’ board members have technology experience versus 22% in the United States. According to the report, European companies could generate up to €3.2 trillion in additional revenue by the end of 2024 if they manage to close this gap against their counterparts in the US.
Austin Boyle, head of technology at Accenture in Ireland, said: “In today’s environment of constant and rapid change, organisations require a bolder adoption of technology than ever before. We have seen how the pace of digitalisation is irrevocably changing the business landscape and leading to new opportunities and threats that organisations can’t ignore, including the rapid introduction and adoption of Generative AI, and the rise in cyber threats.
“Given the core role that technology now plays in overall business strategy, having technology expertise in Irish boardrooms has never been more critical. Ireland is making great progress here, but we still have a way to go, particularly when compared with the US.
“Building a strong digital core – while ensuring compliance, security, and interoperability – will create a foundation for growth and enable the use of generative AI and other emerging tech. In addition, training business leaders will help companies make informed decisions about how to use technology to propel the organisation forward.”
In Europe, outside of technology-driven industries (software, platform, high-tech and comms businesses), the capital markets sector has highest level of technology experience (25.2%) in its boardrooms. The insurance sector has the lowest rate of technology experience at board level at only 9.3% while the energy sector came in at 9.6%.
The report also analysed the technology experience of CEOs. It found that just 11% of European CEOs have technology experience, compared to 17% in the US.
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