The Meeting That Changed Everything: How Technology Reshaping Corporate Leadership

The boardroom was silent.

A group of executives sat around a high-gloss mahogany table, their eyes locked on the presentation glowing on the massive screen.

The CFO was speaking—his voice steady but filled with concern.

“We have the budget for the coming three years. However, as you can see, our sales revenue has started to stagnate, and we expect this decline to continue.”

The Chief Strategy Officer (CSO) leaned forward, frustration evident in his tone.

“We are way behind our competitors.”

The chairman narrowed his eyes. “Why?” he asked. “Have we studied their value proposition?”

A board member hesitated before replying. “They’re investing heavily in digital transformation… aligning their strategic direction with the latest emerging technologies reshaping our sector.”

Silence.

A vice-chairman cleared his throat. “Maybe we should invest in AI,” he suggested. “But… how do we even begin? What should we prioritize?”

The CEO, a veteran leader with decades of experience, tapped his pen against the table.

“Understood. What’s our game plan? There are different approaches to tackle this, and we need to choose the right one.”

More silence.

The boardroom lacked a crucial voice—someone who could confidently say:

– This is how AI will transform our business.

– This is the risk if we don’t act now.

– This is how we stay ahead.

The company had no technology expert in the room—no one to challenge the executive team, offer guidance, or bring confidence to this new direction. The leadership team was looking to the board for wisdom and strategic insight, but none of the board members had experience in AI, digital transformation, or emerging technologies.

Traditional business expertise is invaluable, but modern challenges require additional perspectives—especially in the era of digital transformation. Nowadays, the Board of Directors must start including members with technology backgrounds to ensure the organization is future-ready and equipped to navigate digital disruptions. Without such expertise, companies risk falling behind as industries rapidly evolve.

And they weren’t alone.

Across industries, companies are facing similar challenges—struggling to understand how emerging technology is disrupting their sectors and reshaping competition. Yet, boards are making multi-million-dollar technology decisions without having anyone at the table who truly understands the risks and opportunities. Would you trust a board without a financial expert to oversee corporate investments? A board without a legal expert to navigate risks and regulations? A board without an industry expert to guide strategic decisions? Then why do so many corporate boards think they can govern and drive technology investment without a single technology expert in the room?

Less than 10% of Fortune 500 companies have a CIO or CTO on their board, despite technology being the driving force behind nearly every business strategy today (McKinsey). In 2023 alone, cyberattacks cost businesses over $8 trillion, yet most corporate boards lack the expertise to evaluate cybersecurity risks effectively (PwC). AI is reshaping industries, projected to contribute $4.4 trillion annually to the global economy, but most boards have no structured approach to governing AI adoption (Harvard Business Review). Technology is no longer just a business tool—it is the foundation of modern business strategy. Yet, many companies still see CIOs and CTOs as tactical managers, not strategic leaders. None of the board members talking about or discussing how new technology will disrupt the business of the companies, until it happened. Regulatory bodies are now taking notice. In the United States, the Securities and Exchange Commission (SEC) has mandated that public companies disclose whether their boards include members with technology and cybersecurity expertise. This initiative aims to ensure corporate governance adapts to a rapidly evolving digital landscape and that companies have technology governance in place.

Saudi Arabia has already embraced digital transformation at the highest levels, embedding AI, automation, and emerging technologies into its national strategy. Across key industries, companies are now being challenged to align with this digital shift—yet some corporate boardrooms have yet to fully integrate technology governance into their leadership structures. For Saudi companies, the message is clear. If digital transformation is reshaping industries, corporate governance must evolve alongside it. While some organizations are proactively adapting, others remain hesitant to restructure their boards to include technology leadership. Shall we anticipate that the Capital Market Authority (CMA) will follow the U.S. SEC’s lead and introduce guidelines encouraging public companies to have at least one board member with a technology background?

At the end of the day, the board is responsible for the company’s long-term growth, competitiveness, and sustainability. Until that day comes, the next time a company board sits down for a meeting, they need to ask themselves:

“Do we have the right people in the room?”

Because in an AI-powered world, companies without technology leadership in the boardroom are already falling behind.