On 3 July, the brand and cultural transformation company BBD Perfect Storm released the findings of a recent study gauging the views of UK business leaders on the speed of digital change.
According to the research, over two-thirds of leaders are afraid to admit when they don’t understand technology. Over half have also spent money on digital services that they don’t understand or have not helped the business. The reasons for not speaking up were found to be a fear of embarrassment or looking old and out of touch.
In addition to not understanding emerging tech, UK business leaders are worried about the future. More specifically, three in five have said that they are concerned about the digital world evolving faster than they can keep up with. AI taking jobs, competitors adapting faster, feeling too old to grasp how things are changing, losing relevance, and employees losing faith are among the leaders’ biggest fears and concerns.
CO/LABS
BBD Perfect Storm conducted the research to support the launch of CO/LABS, a new division to help leaders build confidence across digital culture. Laura Redman, Managing Partner at BBD Perfect Storm CO/LABS, said:
‘The research proved what we had expected — that business leaders are often acting out of fear rather than understanding when it comes to new technologies and digital culture. Worryingly, half of business leaders surveyed also feel it’s not their job to understand digital technologies and change. But the lack of understanding will likely increase the fear of being left behind which leads to investment in the wrong places. I’m thrilled to head up this exciting new division that will help businesses confidently step forward in an ever-evolving digital landscape and authentically find their voice.’
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