Survey Reveals 94% of Business Leaders are Experiencing “Tech Anxiety”
A staggering 94% of global business leaders are grappling with "tech anxiety," according to fresh research from Kin + Carta, a digital transformation consultancy.
This rising unease is fueled by the rapid advancements in technology, compelling executives to double down on digital transformation investments. Cybersecurity tops the list of concerns, cited by 24% of respondents, followed closely by AI and machine learning at 19%, and sustainability strategy at 17%.
The study, part of the "2024 Leadership Priorities in Tech" report, surveyed 800 senior business leaders in the U.S. and U.K. from companies with over £800m in turnover or $1bn in revenue.
Let’s call this AI Anxiety. It’s a real thing, just look at this revealing data. What’s interesting — and not at all surprising — is that an entire economy dedicated to easing this stress is now emerging. This will be a lucrative space for entrepreneurs, no doubt.
A whopping 75% believe that further investment in digital transformation is crucial within the next year to alleviate their tech-induced stress. More than half, 58%, plan to increase their spending in the coming year compared to previous years.
The research also highlights the disruptive and ethical implications of AI and machine learning. Top concerns include the speed of technological change (35%), an internal skills gap (29%), and access to the right talent (28%). Richard Neish, Global Chief Strategy Officer at Kin + Carta, emphasized that while technology is evolving rapidly, concerns like data trust and skills gaps can be managed through targeted investment.
So, what's the takeaway? Tech anxiety isn't just a buzzword; it's a real issue that's keeping business leaders up at night. And if they want to catch some Zs, they better start investing in digital transformation—stat.
