Artificial intelligence is causing executives anxiety, according to a new study

The pace of digital and technological change has caused 94% of business leaders worldwide to suffer from tech anxiety.

According to Kin + Carta’s study, which surveyed 800 senior business leaders in the US and UK, cyber security, AI, and machine learning cause the most tech anxiety.

Technology change was noted by 35% of respondents, internal skills gaps were noted by 29%, and access to the right talent was noted by 28%.

Even though executives are feeling cold sweats, they are not staying put.

Within the next 12 months, 75% of leaders believe more investment is needed to combat this anxiety, and 58% plan to spend more on digital transformation.

Additionally, senior leaders agree that AI is the pathway to the workplace of the future. In this year’s survey, 15% of leaders plan to invest in it, while 12% plan to invest in cyber security.

Taking advantage of technological advancements.

Future-proofing the workforce is crucial for organisations to avoid wiping out. As a result, many executives will be able to bridge the skills gap within their organisations.

“There’s no doubt that technology is moving incredibly quickly, but concerns such as data trust and the internal skills gap can be managed, as long as businesses invest in the right areas. says Richard Neish, Global Chief Strategy Officer at Kin + Carta.

In an IONOS survey, 79% of UK small business owners believe that new technology adoption is critical to their future success.

A smooth technological transition can be achieved in a number of ways. Business can develop AI policy guidelines on how to use AI at work in addition to investing in new technologies.

The majority of HR managers agree that this measure should be prioritised. As well as upskilling and reskilling employees and updating talent management practices, a Learning & Development strategy is also crucial.

In addition, businesses can create new positions so that someone within the organisation is specifically tasked with managing technological changes.

As an example, a Chief AI Officer can help businesses take advantage of the technological revolution by implementing security and data standards.

Unsettling changes are common. Business can cross new productivity frontiers by reframing natural anxiety as an opportunity to prepare for the future.

View the full report: https://www.kinandcarta.com/en/leadership-priorities-in-tech/