EY's "Overseeing strategy in the digital age" identifies a number of factors the board should consider to ensure its effective oversight of the company's strategy in the context of digital technology that is now driving - rather than merely playing a supporting role in - the business model and ongoing value creation. In addition to outlining relevant considerations for the board to gauge appropriate integration of technology into development of the corporate strategy, the article suggests board composition, committee structure, and operations factors that boards may wish to consider to enhance their oversight role.
While appointing one or more digital directors is presented as an option, the article also realistically notes that, given how rapidly technology is evolving, any such expert directors may quickly lose their edge and associated benefit to the board, and may engender siloed decision-making - principles to keep in mind as respects certain other types of expert directors as well. Technology reportedly ranked 7th on the list of skills most frequently noted for first-time Fortune 100 directors in 2016.