EDITOR ’ S QUESTION

HOW SHOULD ORGANISATIONS LEVERAGE THE RAPID PACE OF TECHNOLOGICAL CHANGE WHILE SUPPORTING BUSINESS LEADERS IN MANAGING ANY ASSOCIATED STRESSES ?

Nine-in-10 business leaders say pace of tech evolution is giving them ‘ bytemares ’, as BT warns tech anxiety could stunt growth by £ 11.8 billion . We ask experts from BT , Blackberry and Akamai what measures should be in place to reduce stress during workplace operations , with cybersecurity efforts coming out on top .

Nearly nine-in-10 ( 86 %) company directors and executives report suffering from ‘ bytemares ’: techrelated stress that ’ s severe enough to disrupt their sleep – with security and AI the top causes .

BT estimates the resulting tech paralysis could cost the economy £ 11.79 billion by 2030 , as many small businesses right up to large multinationals opt to defer investment in tech transformation .

Rapid pace of tech evolution

From AI to cybersecurity , Big Data to digital skills , the majority ( 88 %) of businesses are investing in new technology this year to improve productivity and gain competitive advantage , as tech investment overall is set to increase 31 % year-on-year .

For most business leaders , selecting and implementing the right technology plays a pivotal role in the success of their business . Nearly two-thirds ( 62 %) recognise that digital and tech transformation is critical to the survival of their company – but the sheer pace of tech evolution is a cause for concern .

Over four-fifths ( 88 %) say workplace technology is a source of stress in their lives and three-in-five ( 59 %) decision-makers say tech is advancing so quickly they worry about the future of their business . Financial services ( 74 %) and HR ( 78 %) are most concerned about the impact on their sector this year .

The concern is that the associated stress of delivering tech transformation is standing in the way of progress , at both a business and national scale . BT ’ s research estimates that 104,000 British businesses could be opting not to invest in new technology this year due to stress associated with the implementation , transformation and upskilling involved . It suggests that this tech paralysis could stunt growth by an estimated £ 11.79 billion by 2030 .

Tech anxiety

Whether it ’ s worrying about cybersecurity ( 32 %), tech transformation ( 25 %), or digital skills ( 24 %), directors and executives are calling out for support to navigate tech , with half ( 50 %) wishing they had a trusted partner to help them with tech transformation .

While cybersecurity is seen as the biggest technological threat to businesses this year , AI is proving to be a huge source of stress . Three-in-four business leaders say that it has made them feel stressed or anxious in the past year . Worries include data privacy and security ( 34 %), as well as quality and reliability ( 29 %). One-in-five ( 21 %) see it as an existential threat to their business .

“ Today , every business is a digital business – and our research shows that the pace of change is taking its toll ,” said Bas Burger , CEO of Business at BT . “ Our job is to make things easier : providing the rock-solid digital foundation businesses need to thrive .”

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