Nordic CEOs are eager to disrupt and expand their business. They tend to agree that a truly resilient business is one that can disrupt the market and that they are actively disrupting their own sector.
Nordic leaders also understand better than their global colleagues that changes cannot be done by technology alone. While CEOs globally are investing more in technology than in employee skills, Nordic CEOs are putting unusual emphasis on investments to improve their workforce’s skills as opposed to buying new technology.
This year’s findings underscore that Nordic CEOs consider the cultural approach of digital transformation as integral to the success of digital transformation, as their enthusiasm for disruption this year is coupled with the conviction that they have created the right cultures to embark on transformations.
Eighty-two percent of Nordic CEOs agree that their companies celebrate “fast-failing” unsuccessful innovation initiatives, and 88 percent want employees to feel empowered to innovate without worrying about negative consequences if the initiatives fail.
With a deeply rooted culture of "failing fast" and scaling up the solutions that work, Nordic companies are well equipped to exploit the potential of new technologies such as artificial intelligence.
Nordic CEOs are also more likely than their global counterparts to believe that technology-based transformations based on artificial intelligence and robotics will create more jobs at their company than they eliminate over the next three years (84 percent vs. 65 percent). However, this positive approach to continued disruption is somewhat tempered by the realisation by 80 percent of Nordic CEOs that lead times to achieve significant progress on transformation can be overwhelming.