How Deep Tech Can Progress Corporate Strategy

During London Tech Week, Odgers Berndtson’s Technology & IT Practice co-hosted a panel event with 130 guests alongside Digital Catapult, joining key industry leaders to explore the impact of AI and the importance of sustainability.

Sustainability and net zero as strategic organisational priorities

Responding to a pre-event survey, sustainability and achieving net zero are immediate priorities for most businesses, while others plan to integrate these goals into their business strategies within the next two years. Although many organisations are considering sustainability at a high level, they have yet to take practical steps to embed it into their operations.

Sustainability can be profitable, as a net zero strategy can reduce operating costs. Businesses that are advanced in their sustainability efforts and on track to achieve net zero emphasised their preference to work with partners and suppliers who also prioritise sustainability.

Additionally, the use of advanced software and technologies, such as AI and automation, to drive efficiencies is critical to progressing towards net zero, as Jacqui Ferguson, Portfolio Non-Executive Director at National Grid, Softcat, Tesco Bank & Croda, commented: 

Strategic approach to AI

Highlighted from the survey and discussions, most companies are in agreement around the implementation of AI, however in equal measure, many businesses remain uncertain about its implications. As a result, they are hesitant to embrace AI fully until further legislation, security and ethical frameworks are established.

Julian Meyrick, Former Managing Partner of Security Strategy at IBM, added: “It’s about building AI in the risk framework, educating staff so they understand the risks - ensuring you’re not creating two silos with your work in AI and that in cyber security.”

Responsibility of AI strategy

As a transformative technology, AI currently falls under the purview of Board-level executives due to its sensitive and high-risk nature. However, as organisations increasingly integrate AI across their IT estates and business operations, the Chief Information Officer (CIO) and Chief Technology Officer (CTO) are expected to play a more significant role in overseeing the AI strategy.

A key question arises: should an organisation appoint a Chief AI Officer (CAIO) to hold the primary responsibility for AI strategy and deployment, or should the responsibilities be distributed across the organisation? 

This new C-suite position would work alongside the CIO to manage AI deployment within the business and IT infrastructure, overseeing both data quality and assurance, ensuring a cohesive and strategic approach to AI integration.

Caspar Herzberg, CEO of industrial software company, AVEVA, commented during the panel discussion: "Collaboration is necessary as we can learn lessons from other industries, especially when you have the clarity with what you want to achieve."

During one of the panel sessions, the conversation turned to the UK’s prominence as a leader in Deeptech and AI innovation. Gemma Jennings, Product Management Lead at Google DeepMind, reflected: “The UK can stay at the forefront of innovation with investment into startups that are pushing the frontiers of our thinking as well as the ecosystem of practitioners asking the hard questions to maintain our position as a global hub for AI innovation.”

With extensive expertise in this ever-evolving landscape, Odgers Berndtson’s Technology & IT Services Practice identifies and develops world-class leadership who can drive innovation, manage transformation and leverage technology to achieve strategic goals.

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