5 Reasons Why Technology Leaders Will Spearhead the Future
One of the key points to come out of Deloitte’s 2023 Global Technology Leadership Study was the ‘dispersion’ in the roles of technology leaders. The report described this as the technology function’s evolution “from seamless operations to seamless leadership.” Traditionally, technology is seen as something that should be seen but not heard; it is considered most successful when it stays in the background and functions effectively.
However, according to the report, most tech leaders have seen a massive expansion in their roles in the last couple of years that now includes driving organization-wide initiatives like ensuring tech fluency and ESG. But does it mean the future of leadership will be dominated by such leaders? Let’s dive deep into the phenomenon of technology leaders, what they do, and why they are critical to the future of this world.
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Who is a Technology Leader and How are They Different From Regular Leaders?
Technology leaders enable organizations to integrate, optimize, and innovate their operations by leveraging their technical expertise. Their role focuses not only on strategic decision-making but also on the implementation of technology. If your career goal is to become a technology leader, then you are probably aiming for roles like Chief Technology Officer (CTO), Chief Information Officer (CIO), or Vice President of Engineering. Here’s how they differ from traditional leaders:
1. Core Expertise
Tech leaders can understand complex technological systems, trends, and innovations and decide which ones to integrate into the workflow. They generally possess skills in software development, cybersecurity, artificial intelligence, or data analytics. On the other hand, a regular leader focuses on broader business functions such as operations, marketing, finance, or strategy. They manage people, optimize processes, and achieve business objectives through non-technical means.
2. Decision-Making Approach
Technology leaders base their decisions on technological feasibility and innovation. They assess opportunities through a tech lens, particularly considering scalability, technical debt, and future technologies that could have an impact on their organizations. In contrast, regular leaders focus on financial metrics, operational efficiency, customer satisfaction, and market positioning in their decisions.
3. Innovation
Tech leaders drive innovation by exploring new tech trends to ensure that the organization remains competitive. They also implement digital initiatives. Traditional leaders innovate through market trends, operational improvements, and customer-driven strategies.
4. Leadership Style
Technology leaders foster a culture of experimentation, agility, and learning. They train their teams on the latest tech skills to make them competent. A traditional leader builds the organizational culture, motivates teams, and drives performance through communication, vision, and strategic execution.
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What is the Role of Technology Leaders?
The responsibilities of technology leaders are not just limited to providing technical expertise. Let’s explore this in detail:
1. Chart the Vision
Technology leaders must align a business’s tech strategy with its overall goals. They must anticipate trends and proactively discover opportunities to implement technology to augment a firm’s competitive advantage.
2. Fuel Innovation
They bring a culture of innovation within their teams by specifically encouraging them to experiment and take risks. Tech leaders often spearhead the development of either a new product, service, or process.
3. Develop Talent
Tech leaders build and nurture teams, provide mentorship, and foster a positive work environment. Organizations need to hire top talent to succeed in a cutthroat market and tech leaders make these critical decisions.
4. Manage Risk
There are a lot of risks with technology as something relevant today may become obsolete tomorrow. As a result, tech leaders help assess and mitigate risks associated with technology adoption, including cybersecurity threats, data privacy concerns, and operational disruptions. Furthermore, they implement security measures to protect sensitive information.
5. Usher Change
It is not easy to roll out new technologies in organizations. Technology leaders guide employees through transitions, address concerns, and ensure a smooth adoption process. It is often a long process requiring significant resources and efficient leadership.
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Some Technological Leader Examples
Here are some notable examples of technological leaders over the past three decades who have contributed significantly to domestic and global affairs:
1. Sundar Pichai
As the CEO of Google and Alphabet Inc. (Google’s parent company), Sundar Pichai is one of the most influential figures in the tech industry. He has played a key role in developing and scaling products like Google Chrome, Android, and Google Cloud.
2. Satya Nadella
He is the CEO of Microsoft, one of the biggest companies in the world. Nadella transformed Microsoft by focusing on cloud computing, AI, and subscription-based services. Moreover, he spearheaded the acquisition of LinkedIn, GitHub, and Activision Blizzard, turning Microsoft into one of the most valuable companies.
3. N.R. Narayana Murthy
Murthy is one of the founders of Infosys, among India’s leading tech companies, and is also known as the father of the Indian IT industry. He helped build one of India’s largest IT consulting companies in Infosys. His leadership also helped grow the IT sector, putting India on the map as a global IT hub and shaping the country’s outsourcing model.
4. Vijay Shekhar Sharma
The founder and CEO of PayTM played a crucial role in building India’s digital payments sector, especially after the demonetization drive in 2016. PayTM started as a mobile recharge platform but has since diversified into a comprehensive financial services provider, including e-wallets, UPI, e-commerce, and even banking with PayTM Payments Bank.
5. Nikhil Kamath
He helped build Zerodha which is known for revolutionizing stock trading in India. It is now one of the largest discount brokerage firms in the country. It disrupted traditional brokerage by offering zero-commission equity investments, thus making trading more accessible to retail investors. His influence extends beyond trading as his WTF podcast has helped millions of aspiring entrepreneurs pursue their ideas. Kamath is admired for his innovative use of technology to democratize stock trading and for promoting financial literacy in India.
6. Deepinder Goyal
He is the founder and CEO of Zomato, which transformed from a restaurant review and discovery platform into a full-fledged food delivery service. Goyal’s vision enabled Zomato to become one of the first tech unicorns to successfully go public. He has also been instrumental in transforming the way people order food in India with a strong focus on technology and sustainability.
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Does the Future Belong to Technology Leaders?
The short answer is yes. The reliance on technology is undoubtedly increasing in nearly every aspect of modern life. Technology has become an indispensable tool for everything from business operations to personal interactions. The trend is likely to grow in the future compelling organizations to develop visionary leaders who can navigate the complexities of the digital age.
For example, India is set to “take the lead in advancing a future characterized by technological prowess,” according to Deloitte’s Tech Trends Report 2024 (1). The tech industry’s revenue is estimated to touch $254 billion in 2023–2024, the report added. Technology leaders will be essential in the future for the following:
- Bolstering production of new products, services, and processes
- Addressing challenges by analyzing data and identifying solutions
- Finding ways to deploy technology ethically and responsibly
How to Become a Technology Leader
In conclusion, technology will be as essential to modern life as air or sunlight. Several organizations will depend on leaders to steer them through this flux. 80% of tech companies expect positive hiring growth in 2025 over 2024 (2). In other words, there is a growing demand for technology professionals, including leaders. You need technical expertise, strategic thinking, and strong leadership skills to become a technology leader.
IIT Delhi’s Advanced Programme in Technology and AI Leadership, which was brought to you by Emeritus, will equip you with the essential skills and knowledge to succeed as a dynamic leader. Many experts developed the program’s curriculum to cover topics relevant to the industry. There is also an opportunity to network during the 2-day immersion on the IIT Delhi campus. The program will empower you to inspire your team, drive business growth, and shape the future of technology. Join this course now and accelerate your way to a future-forward career.
Write to us at content@emeritus.org
Sources:
(1)https://www2.deloitte.com/in/en/pages/technology/articles/tech-trends-2024.html
(2)https://nasscom.in/knowledge-center/publications/technology-sector-india-strategic-review-2024
