Firms in Scotland prioritising investment in responsible technologies – research from CBI Scotland and Accenture

Scottish-based companies have prioritised investing in digital technology in ways that boost their credentials as responsible businesses, according to the new CBI and Accenture Tech Tracker Survey.

The survey shows that firms operating in Scotland have focussed technology investments on building trust among customers and employees, with cyber security and addressing reputational risk key priorities.

Scottish-based businesses surveyed tend to perceive themselves as cyber resilient, with around nine in ten Scottish respondents (94%) feeling prepared for risks like data corruption, data loss, phishing, and systems or service failure. More than three quarters (77%) said they were prepared for any reputational damage associated with new technology investments.

Widening access and inclusion within their organisation is another key driver, with 61% of companies also improving diversity of their technology development teams. 58% are updating governance procedures associated with technology implementation, and another 29% said that governance is also a focus for the next 12 months.

Tracy Black, CBI Scotland Director, said:

“Tech investment in Scotland is something we should rightly be proud of, particularly as we look to build a high tech, high growth economy for the future. High levels of investment in responsible tech and cyber resilience is particularly welcome because of the thriving fintech and cyber security sectors Scotland has to offer.

“As we know, however, technology never stands still, and companies will need to continue and even ramp-up current levels of investment if we want to keep pace with our international competition. Political uncertainty over the past few years has already cost significant investment in Scotland and that’s why businesses are desperate for a period of stability to give them the confidence they need to really grow and invest.”

Les Bayne, Managing Director of Accenture Scotland:

“The focus on making responsible technology investments is - and must remain - a key priority for all businesses. As data is collected and applied through AI, the need to eliminate bias and bring diversity of thought is critical. If businesses overlook their important role in addressing this then we’ll fail to create the best possible outcome for society.”