Tech, media and telecoms executives concerned workforces won't be able to keep up with technological advancements

William Turvill
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Technology, media and telecoms (TMT) executives are worried their workforces won't be able to keep up with technological advancements, according to a new report.

PwC found TMT bosses are positive about the prospect of new developments driving revenue growth.

But one of the top threats facing their growth prospects is a “shortage of tech-savvy skilled workers who can keep up with the accelerating pace of technological change”.

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PwC surveyed business leaders across a wide-range of industries as part of its 19th Annual Global SEO Survey.

On the TMT findings, PwC’s UK and EMEA TMT leader, Jass Sarai, said: “Never before have CEOs across these sectors experienced such complex challenges as they navigate the positives and negatives from the vast changes that technology has produced.

"They must manage their own digital transformations while pursuing innovation for the rest of the market.

“While the growth prospects across technology, communications and entertainment and media are huge, it is clear that a skilled and adaptable workforce is now more crucial than ever."

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The report also found that technology chiefs are more concerned about cyber security than those in other sectors.

Some 76 per cent listed it as one of the top threats to growth, compared with the 61 per cent across all sectors.

On average, 72 per cent of chief executives listed availability of skills as a key concern. This figure was 80 per cent in technology and 81 per cent in telecoms.