Technology Industry CEO Outlook
The Technology Industry CEO Outlook explores five forces that are shaping the tech CEO agenda:
Drive for growth
Tech CEOs are confident of their companies’ ability to outpace the tech sector and the global economy. Nearly half expect 2 to less than 5 percent annual revenue growth for their organizations over the next three years. Achieving growth will also require addressing challenges, with a ‘return to territorialism’ identified as the number one threat to their companies’ growth. Cyber security was the second-ranked risk to growth.
Tech CEOs know market leadership depends on innovation and the agility to respond to new opportunities. Over 60 percent agree that agility is the new currency of business. They are also prepared to lead radical transformation of their operating model to maintain market leadership.
Reimagining the workforce of the future
Tech CEOs are bullish on the impact of artificial intelligence (AI) on their companies and workforces. Two-thirds say their organizations have implemented AI, with the rest piloting AI initiatives. About 60 percent say that AI will create more jobs than it will eliminate. Tech leaders are also assessing opportunities to train their existing workforce to be future ready.
Relentless customer centricity
Tech companies committed to customer centricity truly believe the customer comes first. More than half of tech CEOs say that protecting customer data is one of their most important responsibilities to ensure future growth. Yet only one quarter of tech CEOs say their organizations are exceeding their customers’ expectations for a personalized experience.
There is a growing recognition that technology has profound implications on society. However, more than a third of tech CEOs say linking their growth strategies with broader social purposes remains a challenge.