US technology investment is expected to grow, according to the Nash Squared Annual Digital Leadership Report

NEW YORK–(BUSINESS WIRE). Report. The report also reveals that organizations are acutely aware of the impact of macro issues on their business performance and expect disruptions from four main areas: the economy, their people, IT hardware supply chains and new business models in their industry. The Digital Leadership Report is the longest-running and largest technology leadership survey in the world.

“The growth expectations expressed in this year’s report show companies are strongly committed to continuing their digital transformation, which will be critical to business and jobs in the current global environment,” said Jason Pyle, President of Harvey Nash USA, a firm Nash Squared. “An interesting result is which technologies are prioritized. Data analytics has been proven to give companies a competitive edge, and leading US digital companies expect it to be a top investment priority in the coming year. This is incredibly good news because clean, actionable data is the foundation of advanced technology solutions and critical to the innovation that comes from artificial intelligence and machine learning.”

The report also reveals that the above macro issues are affecting key issues that will continue to impact the success of digital transformation in the coming year. These include:

  • The role of the CIO: 60% of companies in the US say the role of the CIO is becoming more strategic. As leaders, CIOs should be responsible for helping build a resilient business that can handle change, disruption and rapid transformation, which is especially needed in the current environment. But CIOs and digital leaders point to two major roadblocks: lack of focus/too many distractions (21%) and internal under-resources (17%). To address this issue, CIOs must educate the entire C-suite about the broader digital agenda and why investment is paramount.
  • lack of competence: When it comes to talent shortages, the US still struggles to attract and retain talent, with 59% of digital leaders saying it’s preventing them from keeping up with change. However, that’s down from 69% in 2021, suggesting a positive trend. Flexible work arrangements are likely fueling the shift, as only 5% of companies require their employees to come into the office five days a week.
  • Female Tech Executives: Despite an impressive surge in 2021, when it surged to 21% from 13% last year, there’s still a long way to go to grow female tech leaders. In 2022, however, it has leveled off and remains at 21%. Addressing this challenge will require a wide range of interventions, beginning with getting more girls involved in STEM programs at elementary, junior high and high school. Mentoring programs, skills training, and advancement opportunities can also help nurture and nurture female tech talent into leadership roles. On the bright side, 64% of tech teams are between 20% and 74% female, showing that women are increasingly represented in tech.
  • Internet security: 62% of respondents felt their organization’s most reasonable risks were covered, but 27% had been exposed to major IT security or cyberattacks in the past two years, and cybersecurity remains a critical line of defense against global threats. As a result, cybersecurity remains one of the top priorities for which more resources are being allocated. However, cybersecurity talent remains scarce, with 43% of digital leaders reporting a skills gap in this area.
  • Sustainability: Technology can play a big role in sustainability, but US companies need a lot of education in this area. 44% do not use technology to measure their carbon footprint and 23% do not try to improve the carbon footprint of their technology. Digital leaders don’t believe that this responsibility falls on their shoulders and they see it as one person’s job rather than being part of everyone’s responsibility. However, only 26% of respondents employed a dedicated sustainability manager. This means others in the organization, including the CEO and COO, need to work this into their already busy schedules.

“Economic headwinds are building and the indicators are turning negative – but despite this or perhaps because of this, companies know that investments in technology are still crucial. Both to maximize the efficiency of what they already have and to become more agile and responsive in highly unpredictable conditions, technology is key. With technology investment intentions at the third highest in over 15 years, there are signs some companies are reprioritizing where they spend their money,” said Bev White, CEO of Nash Squared. “The reasons for this are understandable, but companies should be careful not to over-constrain – they risk falling too far behind the pace to catch up and severely damaging their competitive position. Another area that really needs ongoing investment is cyber security. The threat environment is highly charged, and the rise in concern over foreign power activities is striking. The world has become more dangerous in 2022. Accordingly, companies must take robust defensive measures.”

About the report

The 2022 Nash Squared Digital Leadership Report is the world’s largest and longest-running survey of technology leaders. It was launched in 1998 and was previously known as the CIO Survey. It has been an influential and respected indicator of major technological and digital trends for over two decades. This year, a survey of 1,785 digital leaders in 82 countries took place between July 20, 2022 and October 10, 2022.

You can register here for the launch event, which takes place on Wednesday 9 November at 15:00 GMT. To request a full copy of the results, please visit https://www.nashsquared.com/dlr.

About Harvey Nash USA

Harvey Nash USA is part of Nash Squared, the global leader in talent and technology solutions. Our network includes 2,800 colleagues in 16 countries and offers a uniquely wide range of services, from recruiting and human resources management to software development and technology solutions. We bring these together to address our customers’ unique challenges now and in the future. Harvey Nash works with clients large and small to provide a portfolio of services: IT Recruitment, IT Outsourcing/Offshoring and Executive Search. To learn more, please visit www.harveynashusa.com and LinkedIn, TwitterFacebook and Youtube.

About Nash Squared

Nash Squared is the global leader in talent and technology solutions. We have a unique network that exploits the potential of the encounter between people and technology. For over three decades, we’ve been helping clients solve broad and complex problems, building and transforming their technology and digital capabilities.



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