Most organizations have faced the need for large-scale transformation in the wake of uncertain economic and social conditions. While some companies have struggled to adapt, others have effectively altered their DNA to work in smarter ways and drive innovation. According to a recent Fortune/Deloitte CEO survey, the current environment has fast-tracked digital initiatives that were set to begin or already underway, with 85 percent of CEOs agreeing that the pandemic has significantly accelerated digital transformation—up from 77 percent in June 2020. If technology today is a source of competitive advantage for some organizations and a threat to ongoing survival for others, boards need to better understand the macro technological forces that form the backbone of innovation and transformation, and take a more active, strategic approach to influencing technology decisions for the long-term health of their organization. Here are a few of the issues boards should pay attention to in 2021 and beyond.
