Dive Brief:
Just 7% of large companies have digitally savvy executive teams, according to research published Wednesday by MIT Sloan Management Review. The authors of the study define digital savviness as "an understanding, developed through experience and education, of the impact that emerging technologies will have on a business's success over the next decade."
A review of nearly 2,000 companies found that organizations with digitally savvy leaders outperformed peers on revenue growth and valuation by over 48%.
CTOs and CIOs top the list of digital experts in the C-suite, with 47% of CTOs and 45% of CIOs having digital know-how. Just 23% of CEOs are considered digitally savvy.