Insight

Technology for social good

Businesses face growing expectations to connect corporate strategies, technology and social good

By Barbara K. Mednick

Today, technology innovation is continuously redefining the way we live and work and it is doing so at an unprecedented speed. Increasingly, there is growing recognition globally among tech CEOs, business leaders and consumers that technology has profound implications for society.

“As technology permeates every aspect of society, there is a growing expectation for tech leaders to link their strategies with technology for social good,” according to KPMG Global and U.S. Technology Sector Leader Tim Zanni. “It is important that CEOs communicate a clear and consistent strategy about their organizations’ vision and beliefs, and how their strategy is impacting their customers, employees and society at large.”

 

For a third of tech CEOs, however, this is a challenge. That’s according to KPMG’s 2018 Global Technology CEO Outlook, which captures the perspectives of 104 tech CEOs globally on five key evolving trends that continue to raise the bar for tech CEOs:

  • Technology for social good
  • Drive for growth
  • Visionary leadership
  • Reimagining the workforce of the future
  • Relentless customer centricity

So how can tech CEOs and their executive teams address these growing expectations to link their strategies with technology for social good?

According to KPMG’s 2018 Global Tech Innovation report, there are great opportunities for using emerging technologies to address key challenges facing humanity, such as the eradication of certain medical conditions and increased effectiveness in providing humanitarian aid. Although some concerns exist about robots, artificial intelligence and the Internet of Things taking over too much of our world, their advantages in improving daily life, society, and the environment are becoming more evident.

According to Zanni, tech industry CEOs also have an important responsibility to manage the risk of the products, services and platforms they develop to prevent them from being used for malicious intent. Since customer trust is critical to success, the potential misuse of their products, services and platforms must be addressed at the earliest stages of the research and development process.

To find out more about technology for social good, contact Barbara K. Mednick at bketchammednick@kpmg.com or on Twitter @BKM_Barb. She can also arrange for an interview with KPMG’s Global and U.S. Technology Sector Leader Tim Zanni.

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