Nine-in-10 business leaders say pace of tech evolution is giving them ‘bytemares’, as BT warns tech anxiety could stunt growth by £11.8 billion. We ask experts from BT, Blackberry and Akamai what measures should be in place to reduce stress during workplace operations, with cybersecurity efforts coming out on top.
Following last month’s Mental Health Awareness Week, new research from BT has uncovered widespread anxiety among business leaders about the pace of technological change in the workplace.
Nearly nine-in-10 (86%) company directors and executives report suffering from ‘bytemares’: tech-related stress that’s severe enough to disrupt their sleep – with security and AI the top causes.
BT estimates the resulting tech paralysis could cost the economy £11.79 billion by 2030, as many small businesses right up to large multinationals opt to defer investment in tech transformation.
Rapid pace of tech evolution
From AI to cybersecurity, Big Data to digital skills, the majority (88%) of businesses are investing in new technology this year to improve productivity and gain competitive advantage, as tech investment overall is set to increase 31% year-on-year.
For most business leaders, selecting and implementing the right technology plays a pivotal role in the success of their business. Nearly two-thirds (62%) recognise that digital and tech transformation is critical to the survival of their company – but the sheer pace of tech evolution is a cause for concern.
Over four-fifths (88%) say workplace technology is a source of stress in their lives and three-in-five (59%) decision-makers say tech is advancing so quickly they worry about the future of their business. Financial services (74%) and HR (78%) are most concerned about the impact on their sector this year.
The concern is that the associated stress of delivering tech transformation is standing in the way of progress, at both a business and national scale. BT’s research estimates that 104,000 British businesses could be opting not to invest in new technology this year due to stress associated with the implementation, transformation and upskilling involved. It suggests that this tech paralysis could stunt growth by an estimated £11.79 billion by 2030.
Tech anxiety
Whether it’s worrying about cybersecurity (32%), tech transformation (25%), or digital skills (24%), directors and executives are calling out for support to navigate tech, with half (50%) wishing they had a trusted partner to help them with tech transformation.
While cybersecurity is seen as the biggest technological threat to businesses this year, AI is proving to be a huge source of stress. Three-in-four business leaders say that it has made them feel stressed or anxious in the past year. Worries include data privacy and security (34%), as well as quality and reliability (29%). One-in-five (21%) see it as an existential threat to their business.
“Today, every business is a digital business – and our research shows that the pace of change is taking its toll,” said Bas Burger, CEO of Business at BT. “Our job is to make things easier: providing the rock-solid digital foundation businesses need to thrive.”
Kerry Small, Chief Operating Officer, BT
We are currently experiencing a once-in-a-generation digital revolution, and there are mounting pressures on business leaders to make the right call about the emerging technologies they invest in. BT research has shown the majority of top executives and business owners say they suffer from tech-related stress that’s severe enough to disrupt their sleep.
These anxieties must be addressed, as decision paralysis could hamper business growth dramatically. BT data shows nearly two-thirds (62%) of business owners recognise how critical digital and tech transformation is to the survival of their company, yet half of UK’s business leaders state they wish they had more support navigating these changes.
To mitigate the stress brought on by Digital Transformation, businesses need trusted partners to help them identify the right solutions for their needs. At BT, we’re committed to providing unmatched reliability, dedicated support and robust network security for businesses of all sizes. Beyond this, business customers can also access free resources such as mentoring, webinars, Netwalks and live events on a wide range of topics, from communication skills to understanding the power of AI or the importance of cybersecurity.
While change can be stressful, it is crucial to implement robust support systems that address not just tech concerns but other well-being concerns more broadly. Mindfulness and meditation can have a positive impact on re-establishing work-life balance while also making both decision-makers and employees feel more balanced and centred throughout the workday.
To shine a light on the importance of workplace wellbeing, we recently partnered with mindfulness expert, Izzy Judd, and ex-Dragon, Sarah Willingham, to create The Business Reboot, a series of guided meditations that help with tech anxiety and beyond. These meditations range from breathing exercises to walking meditations or body scans and are easy to tune in on the go or from a quiet spot in the office. We hope these meditations help arm business leaders with the mental tools to take on worries around tech transformation head-on.
Keiron Holyome, VP UKI & Emerging Markets, BlackBerry
The AI boom is showing no signs of slowing, with Nvidia now the world’s most valuable company as its chips continue to play a central role in facilitating the skyrocketing demand for AI solutions.
At the same time, we know that malicious actors are deploying AI to expand their range and volume of cyberattacks. From automated phishing campaigns and deepfakes to adversarial malware – with BlackBerry’s Threat Intelligence team identifying 3.7 new malicious novel malware samples per minute – bad actors continue to use AI’s capabilities to outmanoeuvre traditional defences.
While threats are increasing in number and diversity, so is our ability to defend against them with advanced technologies that predict and prevent attacks. Staying ahead of these threats requires a multifaceted approach that leverages cutting-edge solutions, including:
- A proactive endpoint security posture: Organisations should implement AI-powered endpoint security to continuously monitor networks and endpoints, with these tools able to detect and stop threats in their earliest stages. This proactive stance will provide business leaders with peace of mind, ensuring their organisation is not merely reacting to breaches but actively preventing them.
- Managed Detection and Response (MDR) services: The cybersecurity skills shortage remains a critical issue. Implementing MDR services can instantly extend your IT team’s capabilities, providing immediate access to 24/7 AI-driven threat protection and readily available resources, so your internal team can focus on mission-critical processes.
- AI-enabled detection and response tools: To build layered defences, organisations must harness predictive, AI-enabled technologies that anticipate and mitigate emerging cyberthreats. AI security solutions provide real-time, contextual cyberthreat intelligence that empowers IT teams to accelerate operations while making more informed decisions. Being able to predict potential threats, automate routine tasks and deliver guidance will free up significant resources internally.
- A culture of constant learning: AI’s dynamic and evolving nature requires continuous learning and collaboration. By investing in regular training and fostering a culture of continuous learning, business leaders can be assured that their employees are resilient against emerging threats.
- A strategy for cyber-resilience: Cyber-resilience goes beyond just cybersecurity; it involves the ability to sustain operations during and after a cyberattack. Business leaders should develop a comprehensive cyber-resilience strategy – one that includes robust incident response plans, regular drills and recovery mechanisms – so they are prepared for potential disruptions.
Richard Meeus, Director of Security Technology and Strategy EMEA, Akamai
The cybercrime industry is a growing, profitable and dangerous business, especially in the EMEA region. New research has shown that for the first time in five years, DDoS attacks against EMEA surpassed those targeting North America.
As a reference point for its scale, if the cybercrime industry was an economy, it would be the third largest in the world – only trailing behind the US and China.
Undoubtedly, the growing cyber-risk is causing increased stress across all levels of business, so organisations must take action now to alleviate these worries by educating all employees, from entry-level to the C-suite, about the risks.
The barrier to entry for amateur cybercriminals is indeed getting lower and lower, and they’re often switching tactics. Whether it’s the continued rise of self-service scam sites that offer phishing attack tutorials or new AI applications that do the heavy lifting for you, the tools available to cybercriminals are getting both more sophisticated and accessible.
Robust cyber hygiene is an important first line of defence, it prevents bad actors from exploiting common vulnerabilities and empowers an organisation’s workforce to feel confident in using new and existing technologies. This means prohibiting easy-to-crack passwords, making Multi-Factor Authentication standard practice and ensuring that security patches are immediately implemented when available. All companies have a duty of care to protect their employees as a default. So, organisations must ensure their employees have the appropriate tools and training to ensure they can identify and report suspicious communications, such as phishing, while guarding against complacency.
Cybersecurity must be a priority for business leaders, not only to alleviate stress but to protect business-critical assets and ultimately, keep their businesses online.
