Cybersecurity and AI are biggest threats to business, say HR leaders

New research from BT claims there is widespread anxiety among business leaders in the HR sector regarding the pace of technological change. In fact, 96 percent of HR company directors and executives report suffering from ‘bytemares’ – tech-related stress that’s severe enough to disrupt their sleep – with cybersecurity and AI coming up as the main sources of anxiety. With 74 percent of leaders in the sector agreeing that tech transformation is critical to the survival of their business, tackling this tech anxiety could result in a significant contribution to the growth of both the HR sector and the wider economy.

Half of business leaders in the HR sector say their companies are tech-driven, but just as many admit they find it hard to keep up with the pace of digital transformation – with 55 percent saying that thinking about the right tech solutions for their business is stressful. It appears this sentiment is impacting the sector’s adoption of new technologies, with only 11 percent of HR businesses investing in tech, falling behind sectors such as IT & telecoms (15 percent), legal (13 percent) and finance (12 percent).

When it comes to the most common reservations HR business leaders have about digital transformation, BT data shows the impact of AI on operations (69 percent) and cybersecurity (66 percent) are seen as the biggest barriers to adopting new tech. Asked about the perceived threats posed by AI to their business, data privacy / security challenges (32 percent) and ethical considerations (32 percent) come up as top concerns for more than half of business leaders in the sector. This could ultimately lead to a slower adoption rate for new tech solutions.

However, BT insights show that 70 percent of HR executives are committed to mastering technology as they look to futureproof their businesses. In fact, four in five executives say they are optimistic about technology’s ability to transform their operations, with just under three quarters admitting that digital transformation is critical to the survival of their companies. This is why 65 percent of leaders in the HR industry wish they had more support to tackle digital transformation and combat the tech-related decision paralysis almost half (48 percent) of decision-makers grapple with.

Main image: from Goya’s The Sleep of Reason Produces Monsters, Metropolitan Museum of Art, New York