Given the rapid pace of technological innovation, what key leadership capabilities do you believe are essential to adopt, and which outdated approaches should be left behind to successfully navigate this evolving landscape?

In the swiftly evolving landscape of technological innovation, key leadership capabilities that are essential include agility in decision-making, a forward-thinking mindset that embraces change, and the ability to foster a culture of continuous learning and adaptability within teams. Leaders must be digitally literate, understanding not only the potential of emerging technologies but also the data-driven insights that drive strategic decisions. They should prioritize inclusivity and diversity, recognizing that a breadth of perspectives fuels innovation. Emotional intelligence remains critical, enabling leaders to manage teams through transformation with empathy and resilience.

Outdated approaches that should be left behind include rigid hierarchical decision-making, resistance to remote or flexible working arrangements, and a 'one-size-fits-all' mentality to strategy and execution. In the digital age, leaders can no longer afford to be technology-averse or slow to respond to market shifts. Micromanagement and fear of failure also stifle innovation; instead, leaders should embrace a growth mindset that encourages experimentation and learning from setbacks. By shedding these antiquated practices and fostering a dynamic, inclusive, and innovative culture, leaders can steer their organizations successfully through the technological currents.

Ability to listen with an open mind to your team and to your customers.   Ideas for innovation might come from anywhere and might initially seem out of the box.

Ability to encourage people that change is manageable, and that they could become more capable, serve at a higher level, because of change.

Ability to foster and facilitate great consultation processes within your teams, so that new ideas can be refined and made actionable, egos set aside to work ideas together.

Key leadership qualities: adaptability, continuous learning, digital literacy, collaborative and innovative thinking.
Outdated approaches: resistance to change, top-down decision making, rigid hierarchical structures.

Given the rapidly changing technological landscape, one needs to be agile and willing to fail fast on new technology starts and be willing to pivot much quicker than in the past.  Having said that, I also believe a healthy dose of skepticism is also useful to ensure you do not introduce unproven technologies into your infrastructure that could potentially endanger your business.  

I think the most important word in the question is "rapid". The technologies are changing all the time. For some industries slower, for others faster. I see two critical leadership capabilities affected.
First, delegation. At some moment of time you have to admit that you cannot grasp all disruptive technologies available at the pace they appear. You need to delegate either your responsibilities to free up for research, or delegate research.
Second, open mindedness. Many technologies grasp attention of C-suite executives when the technology is one the hype and nobody really understands how to use it. Be prepared that your research would render nothing of what you expected, especially if you delegate it. Simply move on.