Introduction - A Pivotal Moment for Tech Leaders
In boardrooms dealing with rapid technology changes, technology leaders must decide: Will we focus only on short-term efficiency, or will we strive to create a better future that values human fulfilment, environmental health, and global prosperity? We need to ensure our approach extends beyond mere digital efficiency and consciously shapes technology to do more than just concentrate power - it should also broaden access and enhance freedom. The choice is ours.
In this article for tech executives, we'll discuss how to develop technology that prioritises more than just clicks and profits. We aim to create solutions with a lasting impact that broadly benefits society, not just generating quick profits for a few. By focusing on balancing benefits for people, profits, and the planet, today's leaders can forge a future where technology supports our collective ethical values. Are we ready to take on this challenge?
Short-Term Thinking Threatening Long-Term Thriving
Tech leaders often prioritise speed over societal impact due to pressure to act quickly, even though they value doing better. This pressure is often because of organisational incentives to reduce costs:
Narrow Measures of Business ValueShare prices often reflect short-term investor opinions rather than a company's long-term value. Yet executives often focus on quarterly stock performance instead of the long-term effects on communities and countries, leading to short-sighted decisions.
Incentives Rewarding Ruthless EfficiencyPay packages only reward cost-cutting and job slashing, building wealth by damaging loyalty, creativity, and the diversity technology needs for excellence in the long term.
Lacking Moral Wisdom Guiding ProgressBoardrooms struggle to maintain ethical standards in digital disruptions because they lack role models emphasising integrity, fairness, and responsibility in complex situations.
Before discussing solutions, it's important to recognise that technology developed without ethical considerations can harm vulnerable groups. However, responsible leadership can still correct these issues.
Confronting the Human Impacts of Irresponsible Tech
Many companies pursuing digital change harm marginalised communities by moving too quickly without careful consideration:
Algorithmic Bias RisksUnchecked AI can reduce fairness in sectors like lending and healthcare unless ethical standards continuously guide its development post-launch. This is particularly critical because AI systems often rely on data that may not represent all demographic groups.
Digital Addiction RisksMany global surveys now report that 4 in 5 people feel significantly distracted by devices, while human attention spans decrease below goldfish levels. Such dependency may risk young people’s development.
Healthcare Disruption DangersThe WannaCry cyberattacks from 2017 compromised over 300,000 systems, including hospital equipment, endangering patient lives from massive infrastructure failure. Such digital threats continue rising globally today without collaborative action.
Before praising technological advances, leaders must ensure these innovations benefit and do not harm communities. Ethical choices lie ahead for those brave enough to make them.
Stewarding Tech for Shared Good
Ethical models that provide secure digital services can greatly benefit marginalised groups, especially if these practices expand from nonprofits to mainstream businesses:
Removing Bias in Lending Startups like Lenddo and LendUp are ethically broadening financial access. They use alternative measures instead of traditional scoring, which often disadvantages minorities and consumers in developing countries.
Preventing Problematic Tech Addiction Worried about the negative effects of technology on young minds, innovators have developed tools like Irlen lenses. These lenses filter harmful blue light, tackling the problem directly instead of relying solely on self-control.
Predictive Cyber Threat Detection Young companies like CyberMDX protect hospitals from ransomware by integrating cybersecurity, asset management, and threat intelligence together. They stop attacks before they happen instead of responding afterwards.
When managed well, technology supports widespread empowerment rather than just gathering power. Next, we'll detail how to grow this approach sustainably.
Strategies for Ethical Tech Leadership
Redefining Business Value and Timeframes Leaders should focus on setting visions that improve communities over decades rather than just aiming to boost short-term share prices for quick investor returns. This approach prioritises long-term societal benefit over merely satisfying immediate financial interests.
Encouraging Sustainable Practices Instead of just rewarding rapid growth through stock grants, compensation committees should design reward packages that value integrity, mentorship, and the gradual development of a positive corporate culture. This shift aims to prioritise long-lasting organisational health over short-term profit gains.
Highlighting Exemplary Leaders Promote real-life examples of leaders prioritising ethical practices and making significant, positive impacts, not just profits. Regular presentations of these role models can inspire and guide the next generation of leaders to act with integrity.
Promoting Inclusive Leadership Involve diverse groups of professionals in monitoring and addressing product risks. This inclusive approach fosters creative solutions and ensures commitment to transparently and proactively tackle challenges.
Updating and Reviewing Controls Regularly As technology and algorithms advance rapidly, organisations should proactively check their systems to catch and address potential issues early. This ongoing review helps avoid public backlash and identifies risks before they escalate.
Responsible tech providers look beyond control, designing products ethically to address potential negative impacts over time.
Nurturing Generational Cultures
Besides making structural changes, inspirational leaders develop supportive cultures that uphold strong ethical standards:
Honouring All People Behind the Data Wise leaders respect user data, see value in each data point, and use it responsibly, not just for profit.
Bridging Divides Through Unlikely Partnerships Polarisation collapses once exposed as an illusion rather than reality. Yet, leaders continually bridge gaps through empathy. When teams assist local communities, a renewed sense of shared humanity brings everyone together.
Personal and Organisational Purpose Alignment Leaders should first assess whether their tools truly support their values, looking beyond just promotional claims. Real cultural change happens when we practice our values daily, not just talk about them. This commitment at every level truly transforms organisations.
Tech leaders prioritising people over profits can positively impact communities for years. This focus on humanity is the way forward.
Conclusion - Leadership Defining Destiny
Faced with rapid and complex challenges, leaders might feel tempted to disengage. However, ignoring small issues today can lead to greater problems for future generations. By acting with integrity now, we can improve their chances for a better future. Leaders must use technology to advance society and address injustices, not exacerbate them. Our actions today will shape the world our children inherit. We must start now to ensure a hopeful future for them. The choices we make today call for courage and a commitment to making a positive impact on all.
About the Author
Giles Lindsay is a technology executive, business agility coach, and CEO of Agile Delta Consulting Limited. Giles has a track record in driving digital transformation and technological leadership. He has adeptly scaled high-performing delivery teams across various industries, from nimble startups to leading enterprises. His roles, from CTO or CIO to visionary change agent, have always centred on defining overarching technology strategies and aligning them with organisational objectives.
Giles is a Fellow of the Chartered Management Institute (FCMI), the BCS, The Chartered Institute for IT (FBCS), and The Institution of Analysts & Programmers (FIAP). His leadership across the UK and global technology companies has consistently fostered innovation, growth, and adept stakeholder management. With a unique ability to demystify intricate technical concepts, he’s enabled better ways of working across organisations.
Giles’ commitment extends to the literary realm with his book: “Clearly Agile: A Leadership Guide to Business Agility”. This comprehensive guide focuses on embracing Agile principles to effect transformative change in organisations. An ardent advocate for continuous improvement and innovation, Giles is unwaveringly dedicated to creating a business world that prioritises value, inclusivity, and societal advancement.
Linkedin - https://www.linkedin.com/in/gileslindsay/