It's not only technology innovation we have an issue with, it's the legacy as well.

It is often easy to expose teh need for boards to wake up and be ready for the disruptive and exponential change that technology could bring. Boards already struggle to grasp or take hold of their current investments in technology.

In today's rapidly evolving business landscape, the role of corporate boards has become more crucial than ever. As a portfolio chair with a focus on business services, innovation, and transformation, it's imperative to address the challenges that many boards face in staying in touch equally with technology legacies, making new investments, and embracing radical innovations like Generative AI (Gen AI). Many of the current headlines we read in many companies do not relate to Gen AI, etc., but to their existing technology and need for understanding.

The Technology Legacy Challenge: One of the key issues boards encounter is the struggle to keep pace with the rapidly changing technological landscape. Many organizations find themselves anchored to outdated technology legacies, hindering their ability to adapt and innovate. As a strategic advisor, it is essential to guide boards in navigating this challenge by promoting a culture of continuous learning and embracing technological updates to remain competitive.

1. How would you score your own company on this measure 1 (Poor) - 5 (Great)

New Investments for Sustainable Growth: In the era of digital transformation, making strategic investments in technology is paramount. Boards often need help allocating resources between maintaining existing systems and investing in new technologies. Crafting a balanced investment strategy requires a comprehensive understanding of the business objectives, industry trends, and potential returns. As a board chairman, emphasizing the importance of agility in financial planning can help organizations foster innovation while ensuring the stability of existing operations.

2. How balanced are the investments in your company 1 (Poor) - 5 (Great)

Embracing Radical Innovation - Gen AI: The advent of Generative AI (Gen AI) represents a paradigm shift in the technological landscape. Boards need to recognize the transformative potential of AI in reshaping business models, enhancing customer experiences, and optimizing operations. Systemic leadership coaching can play a pivotal role in preparing board members for the integration of AI technologies. By fostering a mindset of adaptability and innovation, boards can harness the power of Gen AI to drive sustainable growth and competitive advantage.

3. Are boards doing enough?

Strategic Vision for Board Empowerment: A strategic vision is essential to lead boards towards a tech-savvy future. As an advisor and board chair, championing a proactive approach to technology adoption, fostering a culture of innovation, and advocating for continuous education will empower boards to overcome challenges related to technology legacies, new investments, and radical innovations. This proactive stance will keep organisations relevant and position them as industry leaders in the dynamic landscape of the Fourth Industrial Revolution.

In conclusion, as a strategic advisor and board chairman, addressing the disconnect between boards and technology is paramount for the sustained success of organizations. By promoting a strategic vision, embracing technological advancements, and encouraging a culture of innovation, boards can stay in touch with technology legacies and effectively navigate new investments and radical innovations such as Generative AI. This proactive approach will ensure that boards are well-positioned to lead their organizations into a future defined by technological excellence and sustainable growth.

I want to explore this challenge with boards. Please let me know if you would like to explore further.