Accenture report reveals Ireland ranks 2nd in Europe for level of tech expertise on company boards

Ireland ranks 2nd in Europe when it comes to technology experience on boards, new research from Accenture has found. Falling just behind the Netherlands (19.1%), and marginally ahead of the UK (18.8%), 18.9 percent of Irish boards have members with technology expertise.  

The report, Innovate or Fade – Addressing the European Technology Deficit, has revealed that technology experience has increased within Irish companies’ boardrooms, with more than a two percent growth since the last report in 2021 (from 16.2% to 18.9%). Ireland’s standing is well above the European average, which has increased by almost three percent, from 11.5 percent in 2021 to 14.4 percent currently.  

When compared with the US, European organisations are lagging behind – just 14 percent of European companies’ board members have technology experience versus 22 percent in the United States. According to the report, European companies could generate up to €3.2 trillion in additional revenue by the end of 2024 if they manage to close this gap against their counterparts in the US.   

Austin Boyle, Head of Technology at Accenture in Ireland, commented on the findings; “In today’s environment of constant and rapid change, organisations require a bolder adoption of technology than ever before. We have seen how the pace of digitalisation is irrevocably changing the business landscape and leading to new opportunities and threats that organisations can’t ignore, including the rapid introduction and adoption of Generative AI, and the rise in cyber threats. 

“Given the core role that technology now plays in overall business strategy, having technology expertise in Irish boardrooms has never been more critical. Ireland is making great progress here, but we still have a way to go, particularly when compared with the US.   

“Building a strong digital core—while ensuring compliance, security, and interoperability—will create a foundation for growth and enable the use of generative AI and other emerging tech. In addition, training business leaders will help companies make informed decisions about how to use technology to propel the organisation forward.” 

Caroline Spillane CDir, Chief Executive Officer, Institute of Directors in Ireland added: “It is positive to see Irish boards being ranked second in comparison to other European countries, in this new Accenture research, when it comes to their level of technology expertise on company boards. From our own recent research on AI, we have found that directors and boards have a real desire to learn and develop in this area. Directors want to know how this new technology will impact their business, both the opportunities and the risks, but also the ethical consequences that must be considered when adopting this technology. 

“As the representative body for directors in Ireland, IoD Ireland’s aim is to support directors and boards to respond to their internal and external environment so they can best serve their companies. To help our members on this, we have launched the new IoD Ireland Continuing Professional Development Framework for Directors.

“This new Framework, the first of its kind in Ireland, will act as an enabler for individual directors and boards in identifying the necessary skills and expertise, such as technology and AI, to direct and control their company. It will also support board skills assessment, succession planning and board development. Underpinning the CPD Framework are professional ethics and integrity, behaviours that IoD believes all directors and senior executives should exemplify.” 

In Europe, outside of technology-driven industries (software, platform, high-tech and comms businesses), the Capital Markets sector has highest level of technology experience (25.2%) in its boardrooms. The insurance sector has the lowest rate of technology experience at board level at only 9.3 percent while the energy sector came in at 9.6 percent.  

The report also analysed the technology experience of CEOs. It found that just 11 percent of European CEOs have technology experience, compared to 17 percent of CEOs in the US.  

See more stories here.