UK technology scale-ups risk stalling their growth potential by failing to appoint artificial intelligence (AI) experts to their boards, according to new research from global growth consultancy, Think & Grow.
The study found that just 32% of the UK’s fastest-growing tech scale-ups have AI expertise represented at board level, compared with four in ten (40%) of the largest tech companies listed on the FTSE 350.
The findings highlight a clear correlation between AI expertise and financial performance. FTSE 350 technology companies with AI knowledge on their boards generate average revenues of £6.8 billion — far exceeding the £953 million recorded by those without. Among scale-ups, the disparity is similar: half (50%) of those with annual revenue above £50 million include AI specialists on their boards, compared with just 15% of smaller peers.
Think & Grow’s analysis suggests that demand for AI board expertise has accelerated as businesses seek to upskill leadership teams and navigate new market opportunities. Directors with AI backgrounds typically serve shorter tenures — averaging three years, compared with five for all board members — underscoring the rapid pace of change in the field.
The consultancy’s survey also shows that a third (32%) of technology companies plan to appoint AI specialists to their boards within the next year. Despite this, 13% have no such plans, even as investor appetite for AI continues to surge. Government figures indicate UK AI businesses attracted £2.9 billion in private investment in 2024, with average deal sizes of £5.9 million and the sector contributing £11.8 billion to the economy.
Jonathan Jeffries, Co-Founder of Think & Grow, said: “Companies without AI expertise on their boards risk losing ground to competitors and stifling growth. It’s a challenging climate for many sectors but there is huge investor appetite for high-growth tech companies — the issue is that many who secure funding are unable to maximise the opportunity as they lack key expertise on their boards.”
“The most successful companies weaponise their board connections and expertise to gain a competitive edge,” he added. “UK tech companies need to ensure that they are building boards capable of overcoming challenges and leveraging commercial opportunities if they’re going to scale effectively.”
The findings form part of Think & Grow’s forthcoming report, Breaking & Remaking the Next Generation of High Impact Boards, set for publication in November.
Founded in 2013, Think & Grow supports high-growth technology companies as they scale, with past clients including Spotify, Stripe, Square, Dropbox, Peloton, Datadog, Canva, and Etsy.
