Global confidence in the world economy is falling – and disruption is mounting:
Cyber risk is cited as the number-one risk to organisational growth by Irish CEOs.
Conflicting global outlook
86 percent of Irish CEOs are confident about global economic growth. In many major economies CEOs are less confident about global growth prospects.
New competitive age
72 percent of Irish CEOs say that rather than waiting to be disrupted, their organisation is actively disrupting its sector.
To be resilient, CEOs must apply constant pressure to change and adapt:
Empowered to innovate
82 percent of Irish CEOs say they want a culture where it is accepted that errors and mistakes are part of the innovation process.
Improving innovation processes
76 percent of Irish CEOs say that they need to improve their innovation processes compared with only 12 percent in 2018.
68 percent of Irish CEOs are transforming their leadership team to build resilience.
To master resilience, CEOs need to drive an organisation-wide digital reinvention:
In 2019, 62 percent of Irish CEOs say that a strong cyber strategy is critical to build trust with key stakeholders, up from 22 percent in 2018.
38 percent of Irish CEOs plan to upskill over half of their workforce, while 62 percent plan to invest in new technology.
Only 10 percent of Irish CEOs have implemented AI in automating some of their processes.
Resilient CEOs need to be agile, adaptive and willing to challenge the status quo:
A new playbook
78 percent of Irish CEOs say that, with an average CEO tenure of 5 years, the need to act with agility has increased.
Two thirds (66 percent) of Irish CEOs say they had a significant misstep early in their careers that they were able to overcome, compared with 74 percent of their global peers.