The tech-forward boardroom: Fostering richer boardroom conversations on technology
With technology transforming the way businesses operate, board members and technology leaders should engage in in-depth, bidirectional conversations about its role in the organization
Lara Abrash
Lou DiLorenzo Jr
Anjali Shaikh
Carey Oven
As technology continues to be an important driver in business transformation across organizations, there’s been a steady increase in boards looking to appoint board members with technology experience over the past few years. According to Deloitte’s 2023 Global Technology Leadership Study, 67% of organizations surveyed say at least one of their board members has experience in a technology leadership role,1 compared to 56% in 2020.2
Despite technology and telecommunications being the most common industry background for new directors,3 there is often still a gap in how well the board and technology leaders (chief information officers, chief technology officers, chief information security officers, etc.) are connecting on technology topics. Only 36% of board members surveyed report having full confidence in their technology leaders, and more than four in 10 C-suite executives say their board’s oversight of technology matters is not sufficient in either scope or depth.4 Part of this disconnect could stem from boards governing multiyear transformations and capital spend, but still feeling like technology spend and costs are a black box since technology leaders struggle with measuring and articulating the business impact of technology investments.5
“What I’ve seen in my operational career and board career is that technology executives and boards are not connecting to have the conversations at a level where both parties feel they had a rich exchange at the end of the meeting,” says Joanna Burkey, a board member at Beyond. “It’s not from a lack of effort. I have felt on both sides that you have the agenda topic, board directors ask questions, the technology folks answer the questions, but it is not a conversation of the richness and the depth that we have when we’re talking about an acquisition target or a new customer segment, for example. The state of the union is, we’re not connecting.”6
“Every board is recognizing that they need to have more of a technology presence, even if it’s as a risk management play, but we need to go beyond that,” says Bhaskar Ramachandran, vice president and CIO at PPG as well as board member at S&T Bancorp. “Technology needs to move from a bottom-line discussion to a topline one. In other words, we need to move beyond strategic alignment to strategic engagement.”7
As technologies like generative AI and sophisticated cyberattacks up the ante on the opportunities and risks faced by organizations, effective, in-depth, and bidirectional technology discussions in the boardroom are key to organizations being able to better anticipate—and prepare for—the road ahead. And both the board and technology leaders have a role to play.
How CIOs and technology leaders can help elevate boardroom conversations
Technology leaders play a pivotal role in helping drive these technology-focused conversations in the boardroom. Their role in these conversations is often to be a translator, strategist, risk manager, and futurist, working to ensure that technology is integrated with business strategy and that the board is well-informed to make strategic technology decisions around increased cyberthreats, competitive advantage, regulatory compliance, and investments.
"Technology needs to move from a bottom-line discussion to a topline one. In other words, we need to move beyond strategic alignment to strategic engagement."
– Bhaskar Ramachandran, vice president and CIO at PPG, board member at S&T Bancorp
“Boardroom conversations today have more focus on cybersecurity, which is good, but there are still a lot of challenges discussing the broader technology road map,” says Laura Miller, CIO of Macy’s and a board member at Ahold Delhaize and NCR Voyix. “For example, if you’re putting a new ERP (enterprise resource planning) in, people understand that. But if you have a 30-year-old mainframe and you need US$50 million to get rid of it, it’s a harder conversation to get people to understand the ‘why’ behind that change and the value that will come from it.”8
Here are seven ways tech leaders could drive more effective technology conversations in the boardroom:
Translate technical jargon to business need. Jargon-free communications that include examples and anecdotes to distill complex issues may help board members better grasp a topic at hand. Technology leaders should ensure they are simplifying technological concepts and presenting to board members—some of whom may not have a technical background—in a way they can understand and make informed decisions around. These communications should be rooted in the business need and how technology supports and drives business strategy.
“The board doesn’t necessarily need a large deck; a simplified version with key charts on where things stand is valuable,” explains Janet Wong, a board member at Lucid Group, Lumentum Holdings, and Enviva. “To the extent that the presenter can really hit on key objectives for coming into the meeting and discuss or update us on the matters that the board should hear, I think that’s when the technology leader is in a win-win situation, and we appreciate that as a board.”9
Joanna Lau, founder and CEO of Lau Technologies and a board member at Designer Brands, advises that technology leaders ensure their takeaways are clear for every meeting and every presentation. “Sometimes the takeaways could be educational. Sometimes it’s approval. Sometimes it’s challenges they have or we have,” she says. “Make communications clear without technical jargon so the board understands the progress and challenges.”10
This clear, concise communication doesn’t just apply to formal presentations. It can also apply to pre-read materials, which a formal presentation then builds upon. Pre-reads can be an effective way to address the tactical, operational context so the actual board interaction can be focused on having a dialogue on strategic issues and future directions. These materials should provide the information needed to support decision-making and include relevant reference materials (analyst reports, studies, surveys, etc.) without overwhelming the audience. Assume board members have read the pre-reads and start the discussion where the pre-read ends.
"Make communications clear without technical jargon so the board understands the progress and challenges."
– Joanna Lau, founder and CEO of Lau Technologies, board member at Designer Brands
“If you have an hour to present, a good rule of thumb is you get the first five minutes and your audience gets the rest,” says Cary McMillan, a board member at Hyatt Hotels Corp and American Eagle Outfitters. “Technology leaders should avoid taking 45 minutes to go through 12 slides to show all the different technology issues. Remember that you’re talking to an audience that wants to know what the issue is, how to solve it and that you're the one to do it. Don’t just say, ‘I got this and I'll get back to you.’ Say, ‘Okay, I got this, but we have to do this, that, and this other thing to get there.’ That makes sense and is understandable to the board.”11
Partner with the CFO to better articulate technology’s impact on the business. While CIOs and technology leaders are increasingly reporting to CEOs,12 CFOs can be a key ally to technology leaders as they navigate the boardroom. Even though future technology strategy and investments are the biggest technology topics among boards,13 six in 10 executives surveyed in Deloitte’s 2023 Global Technology Leadership Study say it’s difficult to quantify the benefits of individual technology investments14 and half say they struggle to demonstrate a cause-effect relationship between technology investments and financial growth.15 CIOs can work more closely with their CFO to document the technology function’s contributions and articulate that narrative in the financial impact and risk terms the board is often looking for.
One way to do that is by tying technology outcomes to the business and the problems technology is solving. “Leading with the business problem rather than leading with the technology problem is such a simple thing, but I think it would go a long way toward getting both sides of the conversation—board members and technology leaders—to connect with each other,” says Burkey.16
Consider a consistent structure for reporting and benchmarking. Another consideration for demonstrating transparency around technology spend and how it links to strategic goals is to create a consistent set of technology metrics aligned to business outcomes. According to some of the board members interviewed, technology leader presentations can sometimes feel complex with a hard-to-follow trajectory and no through line that connects one presentation to another over time. To encourage more clarity and connective tissue, boards and technology leaders should align on key business, performance, and operational metrics and put them on a one-pager so progress can be consistently tracked over time.
A board member of a private equity company, for example, mentioned that a technology scorecard that was presented to the board for each of their holding companies had the same eight metrics. This practice created consistency and allowed for easier evaluation and comparison among the holding companies. A similar approach can be taken for business units in a commercial enterprise.
"Leading with the business problem rather than leading with the technology problem is such a simple thing, but I think it would go a long way toward getting both sides of the conversation—board members and technology leaders—to connect with each other."
– Joanna Burkey, a board member at Beyond
Once those metrics are in hand, consider benchmarking them against competitors and other similar companies to put them into context. “Board members shouldn’t just take raw data. Ask for the best benchmarks; ask for, “Show me this compared to ‘good,’ ‘great,’ and ‘exceptional’ and where do we stand vis-à-vis those other metrics,” says Kirsten Wolberg, a board member at Dynatrace and Sallie Mae.17
Co-present to the board as often as possible. Being part of business or functional leader presentations and inviting those same leaders to be part of technology leadership presentations shows cohesion, collaboration, and alignment. It also allows technology leaders to build deeper relationships and be engaged on business outcomes rather than just technology solutions. Co-presenting can also extend to outside experts as well as up-and-coming technology leaders. By giving technology rockstars the opportunity to present to the board, technology leaders can not only help talent grow their skills, but they can also bring in a new perspective and voice to the table.
Engineer deep-dive technology sessions. Deloitte research shows that boards with technology expertise have experienced, on average, 5% greater revenue growth and 8% better stock performance, compared to companies without that expertise.18 To help the board and CEO better understand emerging technology trends and potential disruptors, technology leaders could consider leading deep-dive conversations with board members where they explore the nuances of a specific technology, like gen AI, for instance. Having a half-day or a full-day deep dive can allow for a more detailed discussion on the topic, and also give technology leaders the chance to showcase their own technology prowess.
While it’s vital for the board to discuss and stay informed about emerging technologies and future trends, forming advisory councils and bringing in external perspectives could also enable a greater understanding of the broader market as well as industry trends so organizations can calibrate their technology capabilities accordingly and increase agility.
“Show me this compared to ‘good,’ ‘great,’ and ‘exceptional’ and where do we stand vis-à-vis those other metrics.”
– Kirsten Wolberg, board member at Dynatrace and Sallie Mae
Find opportunities to ask for feedback and engage informally. Technology touches every part of the organization, but technology executives continue to be limited in their engagement with their organization’s board. Only a little over half (57%) of organizations surveyed by Deloitte agree that technology leaders frequently engage with board directors outside of board meetings.19
Technology leaders often get so focused on presenting their perspective that they can forget board members are humans too with personalities, perspectives, and issues they’re passionate about. Technology leaders should consider more ways to build more informal, personal connections where they can develop a greater understanding of one another. “With so much change, it is so important for board members to regularly interact with key technology leaders. I have had a monthly check-in with some technology leaders at my organizations and not a week goes by where I don't get an ad-hoc ping from one of them,” says Burkey.20
One-on-one meetings with board members shouldn’t be presentations, but rather active discussions between technology leaders and board members. “When joining a board, one of the first things I always do is have one-on-one conversations with the technology leaders,” says Wolberg. “I believe the strength of any organization is its people. If you have a technology leader who only presents to the board for ten minutes, you won’t have sufficient time to get to know and assess that individual.”21
In addition to building rapport, these informal connects can also be an opportunity for technology leaders to ask for feedback on areas like, “Are the materials I’m sharing useful?” or “Am I providing relevant and timely information, at the right level?” These conversations are often difficult to have in more formal settings, where time is short and agendas are packed, but can be valuable to long-term success.
“My advice to technology leaders is to find the most tech fluent member on the board and create a relationship where you can have informal conversations around where you’re investing money and why —and can also ask for advice,” says Miller. “The advice could be around, ‘How can I best present this to the board? What would lead to the most participation in the conversation?’ Having someone on the board that can help you with the board reslationships is invaluable and can lead to them becoming an advocate for you.”22
Take advantage of small board sessions and meetings. To help further engage the full board or a subset of board members on technology topics, technology leaders and the board can consider adding technology topics to agenda sessions outside of regular board of director meetings, such as:
- Audit committee meetings. Given that audit committees are focused on tracking major risks and compliance issues,23 it’s one place where technology is often discussed. “With the boards I serve on, technology is always in the conversation since there’s so much going on. We’re always discussing technology—if not in the primary board then in the audit committee meetings,” says Wong.24
- Board strategy workshops. Smaller, less formal groups may also create opportunities for in-depth technology discussions. “During one of our quarterly board meetings, we had the board spend six hours with the extended senior leadership team in workshopping sessions where each breakout explored a different theme, like technology strategy,” says Burkey. “Being part of that process was great. You weren’t having that 12-minute conversation around the board table; you were really participating in a very meaningful and productive exchange.”25
- Compensation committees. Today, compensation committees have responsibilities that extend beyond just overseeing a company’s compensation and benefit policies. They are increasingly focused on the overall talent experience, retention rates, and skills gaps, as well as coordinating succession planning with the nominating committee.26 One technology executive from a vehicle retailer recommended these committees look at progress against transformation goals when discussing leadership compensation, especially given the technology function’s capacity to transform businesses and corporate strategies: “Besides talent, how boards construct their compensation and reward system for management, and how they hold them accountable, can be tied to overall business transformation goals. Having a business transformation goal could be one of the parameters to determine compensation.”
“My advice to technology leaders is to find the most tech fluent member on the board and create a relationship where you can have informal conversations around where you’re investing money and why —and can also ask for advice. The advice could be around, ‘How can I best present this to the board? What would lead to the most participation in the conversation?’ Having someone on the board that can help you with the board relationships is invaluable and can lead to them becoming an advocate for you.”
– Laura Miller, CIO at Macy’s, board member at Ahold Delhaize and NCR Voyix
Deloitte’s take: Guidance for board members and technology leaders
Lara Abrash, chair, Deloitte US, shares her views for how board members and technology leaders can elevate technology conversations in the boardroom.
For board members, it’s important to not underestimate the influence of technology, especially emerging technologies. If a technology lens is not incorporated into board members’ thinking or mindset, how can they be aware of clues that may suggest their company isn’t moving fast enough or in the right direction? Or how can they know if their organization is building the capabilities it needs to succeed in the future? Agility and sensing are so important today, and understanding how technology does—and will continue to—enable business strategy is a key part of that.
For technology leaders, it’s important to have a seat at the table and share their perspectives on how technology can push the business forward. They should look to articulate how they’re enabling an organization’s integrated strategy with tech, whether that be through their own resources or by leveraging outside parties. Technology can still be a black box for some board members even though technology budgets are increasing.27
Technology leaders should clearly and transparently share the value propositions behind the strategic decisions they’re making. Are their investments creating more resiliency? Are they giving the business more opportunities to effectively leverage data? It’s not just about the dollars they’re spending but the business objectives they’re enabling. Technology leaders often have an innate ability to understand emerging technology trends, and given technology’s pervasiveness, they’re often at the center of every discipline. Because of this, integrating their voices early and often is key to elevating conversations in the boardroom.
To have or not to have a technology subcommittee
While the audit committee has historically been charged with issues related to technology,28 some companies have established a separate technology committee to create more airtime for technology topics. Currently, 38% of executives surveyed by Deloitte say their organization has a formal committee focused on technology.29
To be sure, there is no one-size-fits-all governance answer to committees, and whether it’s a good idea or not will vary by company. In some cases, having a technology committee may inadvertently create overhead and red tape. This can lead to increased bureaucracy, duplication of efforts, time-consuming preparation and delivery of materials, diffusion of responsibility and communication issues. Most importantly, it can prevent the entire board from being fully engaged on a topic by limiting discussions to the smaller group. A tech-focused committee could also benefit from having board members that are well-versed in technology, yet only 18% of new directors surveyed in the United States in 2023 had a technology background.30
On the other hand, technology committees could elevate the focus of technology conversations from passively addressing audit deficiencies to seeing future possibilities and opportunities. Striking this balance between defensive (cyber, risk, and regulatory focus) and offensive (strategic, growth, and revenue focus) conversations could allow the board to get a more holistic picture of technology capabilities and how they can impact the future business trajectory. It can also elevate the role of technology leaders from being back-end support to strategic business partners.
“Having committees solely focused on technology, cyber, privacy, and data has definitely elevated technology in organizations,” says Wolberg. “It has both elevated the technology conversation and it’s given us more time to talk about technology topics. It’s not that technology conversations are often truncated because people don’t want to have them or don't think they're important; they are cut short because time is always a commodity. So, we can create space for discussion by creating committees.”31
A technology committee could also create another platform to discuss innovation and this idea of technology as a vehicle of strategy, rather than just an enabler of it. The aforementioned tech executive at one vehicle retailer shared: “We have formed a technology and innovation committee jointly supported by our technology and strategy functions. Here we spend quite a lot of time talking about where we’re going with tech, the major disrupting forces we’re seeing in our industry and how we’re preparing for that, among other things. This committee has given us the time and platform to have a meaningful conversation around change, transformation, and innovation.”
A technology committee could also create opportunities to educate board members on the nuances of certain technologies, like gen AI, if desired. This on-the-job education could not only help board members better steer the organizations they’re shepherding forward, but it could also benefit them in the long term, arming them with additional skills and expertise that they can ultimately apply to other technology environments.
Regardless of whether a separate technology committee is the right fit, what’s important is breaking down the life cycle of where technology influences different aspects within an organization and making sure it’s discussed in the right areas. For instance, technology strategy and capital allocation may be better suited to be addressed at the full-board level, but the regulation of data or talent implications and incentives could be discussed at the committee level. While there is no one right answer to where technology should be discussed in the boardroom, especially since it’s so pervasive, there should be an active discussion around which avenues are responsible for discussing which tech aspects.
“There’s not a cookie-cutter answer on whether there should be a separate technology committee,” adds Wong. “It’s going to be different for every company, based on what industry they’re in, what their market is, what their size, if they’re global, and what they’re trying to do from a strategy perspective. What's important, though, is that there’s a discussion at the board level to decide where technology fits best, and whether it’s a shared workflow that runs through more than one committee or just a specific technology committee.”32
The answer to this question can evolve over time. Technologies and certain elements of risk come and go, so how (and where) technology is discussed may shift as well.
Four gen AI topics for the board’s agenda
Artificial intelligence, data, analytics—and now by extension gen AI—are critical topics for both boards and technology leaders. Discussing them effectively in the boardroom may require both groups to communicate in new ways, according to Tonie Leatherberry, a board member at Zoetis.
“We have to get to a common language and way technology leaders and board members communicate,” she says. “I think this starts with technology leaders breaking down what AI is from a technical standpoint. Then, they can start a discussion around how their organization's processes are changing when it comes to talent and human capital. Lastly, they will need to communicate to the board how AI is going to give us a competitive advantage.”33
Seventy-nine percent of executives surveyed by Deloitte expect gen AI to drive substantial transformation within their organization and industry over the next three years. To stay ahead of any challenges with implementing or scaling the technology, more than a third are using a formal group or board to advise on gen AI-related risks.34
Organizations surveyed expect gen AI to deliver a broad range of benefits, with the most common—at least in the short term—being improved efficiency and productivity.35 As board members and technology leaders consider how to best leverage gen AI, it may be helpful to explore the topic from the following four angles.
- AI strategy and competitive positioning: It is important to understand how the organization’s competitors are using gen AI and how this technology may disrupt the broader industry. But organizations should also know what current capabilities exist and which future ones are planned to enable competitive differentiation for the organization. Board members can ensure strategic alignment to the organization’s strategic objectives.
- Workforce impact and talent management: Boards are asking questions about how their company’s workforce could be impacted by gen AI, and what plans exist to address a potential shift in talent strategies. Additionally, technology leaders can likely expect board members to ask if the organization has the necessary skills and talent in-house to implement this strategy—and what partnerships, approaches, and mitigations exist to fill the skills gap.
- Risk management and compliance: Technology leaders should expect to explain the potential risks of AI implementation, how those risks will be mitigated, and how implementation will be governed. Gen AI carries the potential for both ethical and security risks, as it can reflect biases in algorithms and is susceptible to hallucinations. Additionally, concerns around privacy, data security, and intellectual property protection are becoming increasingly important. Managing these risks necessitates careful system design, stringent regulations, and continuous monitoring. In turn, boards should provide oversight.
- Financial impact: AI systems can require substantial initial investment but can also lead to cost savings and new revenue streams by improving operational efficiency, enabling innovative services, and enhancing risk management. Failure to invest in AI may result in a loss of competitive advantage, potentially leading to decreased market share and revenue. Boards and technology leaders should discuss the cost and value levers concurrently to get a holistic picture.
Questions board members can ask their CIO or CTO to help drive more tech-forward conversations
In addition to technology leaders driving engagement and communication with the board, board members can also help elevate technology conversations in the boardroom by ensuring that technology leaders consistently have a seat at the table so they can articulate what role technology is (and could be) playing in driving business strategy—and by knowing who is in the room.
“If board members have an intimate sense of the capabilities in the room, they can better leverage people where they excel, for example, who is best suited to sit on a technology committee as well as who can collaborate with their CIO,” explains Miller.36
The board should help elevate the conversation beyond just risks and costs to discuss topics like data strategy, talent, and the ethical use of technologies. Create headlines that give technology leaders an entry into being part of the conversation by saying, “If this is our ambition, this part is going to be tech-enabled and here’s where we need to engage technology leaders, along with the CEO and CFO.”
Once technology leaders are at the table, board members should ask strategic questions to determine whether everyone is in sync on key areas, such as strategy, building trust with customers, innovation, data privacy, and business transformations. Often, the first question may be, “How can we help?”
“I always ask the technology leaders during board meetings, ‘What can we do more of to help you from a technology perspective?’” says Wong. “Because sometimes they come in and present these big ideas, but what we want to know is, what do you need from the board to achieve them? How can we help you drive to the success of what you're trying to do?”37
To continue the technology dialogue in the boardroom, or outside of it, here are questions boards should consider asking their technology leaders regularly:
What are the key technology obstacles to executing our business strategy? Often technology leaders’ presentations to boards identify the key risks and opportunities regarding specific initiatives. But sometimes systemic issues, along with cultural, organizational, process, or even leadership challenges, are root causes for not achieving business strategy goals. Technology, although complex, is often easier to implement than addressing these core issues. Board members should probe for, identify, and even preempt such issues and help technology leaders and management navigate through these key obstacles. Key questions boards should consider around this are, “Is the organization moving fast enough? Are technology and artificial intelligence appropriately integrated into the business strategy, capital allocation, etc.?”
“I always ask the technology leaders during board meetings, ‘What can we do more of to help you from a technology perspective? How can we help you drive to the success of what you're trying to do?”
– Janet Wong, board member, Lucid Group, Lumentum Holdings, and Enviva
- What is the run/grow ratio of technology investments? On average, technology investments account for over 5% of the organizational revenue today.38 It is important to understand not only major spend categories, but also the ratio of spend on running business activities to growing those activities. A more nuanced version of this metric splits up the spend into run, enhance, and grow activities. Discussing this ratio and the overall trend for the past few years can allow technology leaders to explain the technology environment’s complexity and discuss areas such as technology architecture or technical debt. Additionally, boards and executive teams should equally consider whether the level of technology investments is appropriate for where the company is in its life cycle. This visibility may allow board members to help technology leaders receive additional funding for strategic initiatives or make the case for reallocating technology budgets and resources. Further, it can get the organization to think about how they communicate their technology strategies and investments to investors to avoid potential pitfalls.
- How can our organization mitigate potential technological blind spots? The possibility that technology could upend current business models is more real than ever before, as gen AI so acutely demonstrated. Exploring the technologies and scientific disruptions that have the potential to disrupt an organization’s business model should be a key discussion point between boards and technology leaders. Probing technology leaders on this topic may open a dialogue around the capabilities needed to preempt disruption, and the organization’s current maturity for addressing it.
- What future revenue channels do we want to pursue? The answer to this question will likely vary by industry and the specifics of a market, but it can prompt a discussion around what the ideal future for an organization is and whether it has the technology in place needed to get there. “With our regional bank, for example, we know demographics are changing and there’s an increased expectation among our future customers to be served in a digital channel,” says Ramachandran. “So, the question we’re asking in the boardroom is, ‘If our customers are seeking the convenience of engaging with a machine versus talking to a human, how are we putting the technology in place to do that?’”39
- What are other companies doing and how does our organization compare? This question can be customized to dive deeper into a specific, top-of-mind issue or priority. For example, “What are other companies doing regarding gen AI? Retaining tech talent? Managing increasingly sophisticated cyberattacks?” It can open the door for technology leaders to provide their perspective on what they’re seeing in the market and which areas they believe their organization is leading or falling behind in. It can also give board members, who have a wealth of experience and a variety of backgrounds, an opportunity to share an outside-in view on what they’re seeing across industries.
- What is our technology talent bench strength? From conversations with board members, it seems as though they’re aware that technology can offer a competitive advantage. Yet without a strong bench of technology leaders, organizations are not expected to be able to compete as effectively in the future.40 Even if there is confidence in the current leadership, ensuring that other leaders beyond the chief information officer or chief technology officer have some airtime in board meetings is important to help create a strong pipeline of talent. Also understanding the mix of both technical and human skills in the organization, and strategies to retain high-performing talent are key discussion points that can offer a glimpse into the future readiness of a technology function. An organization’s ability to attract top talent could influence how technology might shape an organization’s future trajectory.
- What incremental, technology “easy wins” are possible if resources are unconstrained? A very disarming way to start a discussion with technology leaders is to ask them if they had incremental technology funding available, where would they invest and why. This question can potentially uncover key areas of opportunity that have not yet been addressed due to budget constraints. This type of discussion between the board and technology leaders could also lead to additional funding or a conscious choice and justification not to invest in a specific opportunity.
- What’s keeping you up at night? This question may also disarm technology leaders since responses are often based on a personal gut feeling rather than data, but it’s one that could illuminate challenges or risks that are not currently being discussed on the board agenda. “I'd love to hear an IT leader succinctly respond to, ‘What are you worried about?’ This way, I know what we, as a board, need to prepare for,” says McMillan.41
- What’s a good moonshot to aim for? The term “moonshot” in technology denotes an innovative project that requires immense effort and ambition, with the potential to yield extraordinary results. If these lofty goals are achieved, the outcomes could significantly benefit stakeholders, end users, and possibly even humanity. The scope of moonshots can span across various domains, from tackling severe diseases to developing new tech-enabled product and service offerings that create significant competitive advantage.
While these suggested questions can help prompt more in-depth technology discussions, the questioning should go both ways. After all, conversations are a two-way street.
“Board members should understand that our role is to support technology leaders by asking questions, not by directing them,” says Lau. “Additionally, while the board often asks questions, technology leaders should also feel free to ask questions of the board. It is important to remember that this is a dialogue, not a monologue.”42
On that note, Ramachandran shares one final piece of advice for technology leaders: “If you have an ask of the board, make sure your CEO is aware. CIOs have the privilege to present to their CEOs’ bosses—the board; they should never forget that.”43
