Today, technology plays a pivotal role in virtually every business process. When IT systems fail, entire organizations risk grinding to a halt. Consider the recent global Outlook outage or the numerous cyberattacks that have made headlines over the past year. Boards of directors bear a legal responsibility to oversee cyber and operational risks, but how can they do this effectively without adequate IT knowledge? A lack of digital expertise not only introduces technological vulnerabilities but also creates legal and strategic challenges.
A Strategic Imperative
A surge of new regulations is on the horizon, many of which are deeply intertwined with technology. Take GDPR for data privacy, NIS2 for cybersecurity, and the AI Act, for example. How can boards assess GDPR compliance without understanding how their organization’s information systems function? How can they evaluate NIS2 readiness without insights into cybersecurity investments? And how can they respond to the AI Act without a thorough grasp of AI technologies? The answer is simple: they cannot.
Boards must view technology not only as a regulatory requirement but also as a cornerstone of long-term strategy. IT has become increasingly central to strategic business decisions and revenue models. Consider how platforms like Uber and Airbnb have revolutionized entire industries. Board members must think beyond what technology currently delivers and explore its potential to transform their organization in the future. Yet, many boards prioritize expertise in finance, legal, and compliance, while underestimating the strategic importance of technological insight.
Bringing Digital Expertise into the Boardroom
A recent example from Belfius highlights the need for specialized expertise at the highest levels: the organization was required to add a legal expert to its executive committee to enhance decision-making. Boards of directors should adopt a similar approach by prioritizing knowledge of IT's role in long-term strategy and enterprise risk management.
This can be achieved in two ways: by recruiting external board members with relevant expertise or by equipping current board members with IT training and education. The ultimate goal is to ensure balanced representation of experts across all critical domains—legal, financial, strategic, and technological. Managing the growing complexity of the external environment requires an equivalent depth of expertise within the boardroom.
Is IT a Strategic Pillar in Your Organization?
The time has come to stop viewing IT as merely an operational necessity. Instead, it should be integrated as a strategic foundation across the enterprise. The Master in IT Governance & Assurance equips leaders with the knowledge and tools to anchor IT structures, optimize processes, manage risks, and maximize the value of IT investments.
