In the digital age in which we live, technology is a key factor for the success of any organization. Also for the Board, which must adapt and take advantage of the opportunities it offers them to improve their efficiency, make decisions and carry out the governance of their businesses. And how can it drive growth and innovation in companies?

To begin with, there is a key factor that the world adopted, which is the 2030 Agenda for Sustainable Development, which proposes a set of ambitious objectives that seek to guarantee a prosperous and equitable future for future generations.

Meeting these objectives inevitably requires the support of technology, in different ways:

– The generation of information from the enormous amount of existing data could not be carried out without the existence of the Big Data and analytical models.

– The digital transformation, which allows optimizing traditional operating models.

– Innovation and disruption which have become a key element in the generation of new business opportunities. The pandemic we experienced a few years ago substantially changed the way we interact with customers. Digital and online contact has strongly displaced the traditional operating model.

Furthermore, for the Board, there are other aspects related to the company's compliance issues – those that establish standards and procedures to ensure compliance with regulations – that could not be resolved or mitigated without two key elements.

– Cybersecurity, prevention of fraud and theft of information from the organization, and

– the management of Data Governance and the protection of information established by global regulations.

Given this scenario, some key technological aspects that make up the Board's 2024 agenda are listed below:

1. Digital transformation. Fundamental issue for the board. It involves adopting emerging technologies such as artificial intelligence, big data, internet of things (IoT) and blockchain, among others. These technologies help companies improve operational efficiency, optimize decision-making processes as well as offer innovative products and services.
2. Innovation and disruption. Without a doubt, annual meetings should include the promotion of innovation and the search for opportunities for disruption in the market. This involves staying on top of the latest technology trends, evaluating their impact on the industry, and exploring new ways to deliver value to customers. It is mandatory to promote a culture of innovation and establish mechanisms to identify and support innovative projects.
3. Cybersecurity and Data Governance. Cybersecurity is another critical aspect of the technology agenda. With cyber threats on the rise, it is critical that the Board stay abreast of the latest trends and best practices in information security. This involves investing in robust security systems, training staff in cybersecurity, and establishing clear policies to protect the company's digital assets.

For its part, data governance refers to the management and protection of the company's information. Tools and technologies must be implemented that facilitate efficient management and compliance with privacy regulations.

In short, technology is an essential element for the success and survival of companies in the digital age. By adopting emerging technologies, strengthening cybersecurity, establishing strong data governance, and fostering innovation, organizations can boost their growth and competitiveness. For this, it is essential that the Board is updated and committed to technological aspects to make strategic decisions for the future of the company.

Autor: Daniel Dapuza, Director de Together Business Consulting