A recent Grant Thornton survey has unveiled a shift in priorities among chief financial officers (CFOs) in the technology sector, with an emphasis on organisational culture and advancements in artificial intelligence (AI).
Organisational culture has emerged as a human capital priority for tech CFOs, according to the new survey.
The survey results indicate that 58% of tech finance leaders now consider it their primary focus, marking an increase from 45% in the previous year.
This shift highlights the importance of integrating culture into various business issues, including workforce operations, AI, and cybersecurity.
The survey further revealed that tech CFOs are planning to expand AI capabilities, with 58% of respondents identifying AI as the top technology investment for 2025.
As AI technology advances, it is expected to take over an increasing number of traditional roles, reshaping job security and operational efficiency within the sector.
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By GlobalDataGrant Thornton Advisors Growth Advisory Services senior manager Alon Avdi said: 鈥淎I is even affecting people with important skills in the tech industry, such as software engineers.
鈥淭heir jobs were almost never at risk before, but with the advances in GenAI, roles such as developers can become at-risk positions.鈥�
In addition, the survey notes that tech companies are looking at AI and automation as strategies to manage labour costs.
Concerns about economic conditions have led to 46% of tech CFOs anticipating potential layoffs within the next six months, an increase from 31% in the previous year’s survey.
The exploration of Generation AI (GenAI) technology is gaining traction as companies assess its potential benefits and seek partners to leverage its capabilities.
The company notes that GenAI is becoming a key tool in the ongoing battle between cybersecurity attackers and defenders.
However, the survey highlights that human error remains the most major cybersecurity vulnerability.
Investment in training and awareness is seen as the leading cybersecurity measure prioritised by 33% of respondents, although this represents a decrease from 37% in the previous year.
Meanwhile, the trend of partnering with external security firms has risen from 9% to 21%, overtaking security audits as a preferred measure.
As the need for cybersecurity expertise grows, these external partnerships enable companies to scale their efforts and integrate specialised knowledge into their existing in-house capabilities.
Survey participants also indicated that enhancing cybersecurity and risk management functions is a top priority, with 26% focusing on these areas.
In addition, in a report by Grant Thornton and Heriot-Watt University, it was revealed that in the financial year ending 2023, there were 66 female positions on audit committees among 148 listed companies in the UAE.聽
