Nearly two-thirds (63%) of CEOs are worried about the lack of digital skills among senior leadership, according to a report by PricewaterhouseCoopers (PwC).
A further 67% are troubled about a lack of digital skills throughout their businesses.
The PwC report states that the industry needs to have digital transformation as a top priority as customer behaviour shifts and changing regulations come in to place.
It is no longer sufficient to have a highly skilled IT department, but a general understanding of technology must exists across all levels of a company, says technology consultancy Gibbs Hybrid.
Farida Gibbs, founder and CEO of Gibbs Hybrid, said: “Competitiveness is not about buying into technology but having a board level understanding of how it impacts wider business outcomes. Both CEOs and employees alike, cannot simply rely on technology experts to bolster their foundational IT knowledge.
“Many companies lack the mind-set needed to identify how new technologies can positively impact the business. Senior members should be able to communicate the value of digital solutions to all levels of the workforce, emphasising their ability to drive growth, boost productivity, and tackle IT threats.”
Gibbs added that creating a new company culture requires those at the top to lead and influence all teams operating within a business.