Boardrooms are focused on technology to improve decision-making and boost company performance
Companies are increasingly using analytics, artificial intelligence (AI) and instantaneous data gathering to make better-informed decisions about their portfolio.
AI and robotic process automation (RPA) are seen as the key technologies that the boardroom is considering. As such technologies become more widely adopted, they will influence every area of a company’s operations and decision-making processes.
Of course, access to data is the lifeblood of AI — and companies are more focused on ownership and control of data than ever before.
Another technology that boardrooms are currently focused on is cloud computing. This is where the data and technologies to understand the data collide. Cloud computing has also created much greater optionality around outsourcing IT infrastructure.
With the acceleration of technological advances, many companies are struggling with what hardware to buy, so they are leasing it instead. This has shifted major technology costs from the balance sheet to the P&L. The impact of this is still emerging, but may contradict the idea that companies have been cutting back on investment in the prior few years.