Today nearly every organization wants to call itself a tech company, most likely because the current perception is that the digital experience — above all else — ensures success and profitability.

Given this landscape, tech is predictably a top priority for corporate decision makers. The paradox is that many corporate boards still don’t give tech the weight and space it deserves in their deliberations.

Part of the challenge is that many board directors come from companies that weren’t concerned with technology. They have come of age in a time when tech didn’t define the core product, so their perception of technology is tied to costs, risks or memories of failed initiatives.

This creates a going-in assumption that whenever the discussion turns to tech, it’s likely bad news.

AI, blockchain, crypto and RPA are all terms being tossed around by many claiming to be experts. Unfortunately, these concepts can be oversimplified and misunderstood, and board directors have little patience or time for vague, difficult to value technology concepts.

It’s much less risky or challenging to default to the technology topics that they know best: cyber risk management and cost control.

A relentless focus on the potential downside of emerging tech can blind boards to big opportunities. They often fail to explore technology’s potential as levers of profitability. Boards should challenge tech leaders to better articulate opportunities in a fast-evolving tech landscape.

This approach means bringing in real specialists and to committing to explore the full potential of technology. Part of functioning as a high-performing board is knowing when to tap into areas of outside expertise for deeper dives into particular issues.

Most boards will benefit greatly from creating dedicated subcommittees that examine tech opportunities in detail and leverage the contributions of directors with robust experience in the sector, just like they now do with compensation, risk and governance.

Here are three potential benefits for boards creating a dedicated tech subcommittee:

1. Greater bandwidth to proactively examine opportunities in tech.

If the board has a heavy slate of governance and leadership issues on the agenda, they often don’t have the luxury of carving out time to brainstorm or pursue outside-the-box technology ideas.

The dynamics of the conversations among subcommittees are often far more focused on seeking out opportunities, rather than dwelling on potential pitfalls.

Conversations can become much more blue sky in nature and oriented on the future: What are we doing with AI? How can we better tap into the possibilities of RPA? Are we doing everything we can to leverage data?

2. Moving IT forward and holding your company’s tech leadership accountable. 

A subcommittee can play an especially crucial role in providing strategic leadership to IT teams, or even providing a form of checks and balances.

Many CIOs or IT departments have culturally been groomed to be risk averse. Do they really need to seek out alternative tools or can they get by for another five years with cheaper technology?

A board committee peering around corners to the future can give IT teams cover for tough decisions and push them to innovate. 

3. Incentivizing the recruitment of a greater range of backgrounds and skills for directors. 

Diversity of skill sets and backgrounds is increasingly recognized as essential alongside cultural, racial and gender diversity. Adding tech subcommittees incentivizes companies to find more leaders with deep technology expertise.

Boards must make time to examine what is arguably the fastest-moving and most-impactful sector. Leaders can look to their boards not just for oversight, but for strategic counsel and wisdom based on their deep expertise and what is happening in the marketplace.