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Most boards of directors accelerated digital initiatives in wake of pandemic

(Image credit: Image Credit: Chombosan / Shutterstock)

The Covid-19 pandemic has forced most boards of directors (BoDs) to speed up digital transformation (opens in new tab) initiatives, a new report from Gartner claims.

Although budgets have been falling as businesses look to insulate themselves from the effects of the pandemic, BoDs nonetheless expect spending on technology to increase. Among the 265 respondents in the US, EMEA and APAC polled for the report, most expect IT budgets for 2020 to rise at least seven percent.

These budgets will be funneled towards artificial intelligence (AI) and analytics solutions, it was said, as these tools are seen as “game-changing” in a remote-work-first environment.

For BoDs everywhere, digital technology initiatives will serve as “the top strategic business priority” over the course of the next two years, together with customer engagement and remote workforce management.

Most BoDs see technology as a tool of transformation (opens in new tab) and, with Covid-19 still very much a factor, some will look to carve out a new Chief Digital Officer role to reflect that fact.

“BoDs play a strong role in helping the executive leadership team focus beyond the short-term risks associated with this extended pandemic,” said Partha Iyengar, Distinguished Research Vice President at Gartner.

“Technology-driven digital transformation can, and should be, a strong enabler in addressing employee, customer, supply chain and broad brand impact to position the enterprise to come out of the crisis stronger.”

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.