Nearly two-thirds of CEOs believe investing in new technology without a clear business case is justified. According to a survey of 600 CEOs of large international companies by AND Digital, this is largely due to fear of missing out on the digital disruption bandwagon.
CEOs surveyed by AND Digital are overwhelmingly clear about their expectations for future technology. Embracing new technology is essential for businesses to remain competitive, increase customer value, and continue to innovate.
However, the CEOs acknowledged that implementing the technology is a difficult task. “Keeping up with the speed of technological change is one of the greatest pressures facing business leaders today,” the report highlights.
Source: anddigital
When it comes to digital adoption, CEOs are feeling pressure to move quickly, often referred to as a departure from “traditional” ways of embracing change. Nearly two-thirds (62%) of CEOs surveyed said they would rather move too slowly than quickly, although they are conscious of the necessary shortcuts in areas such as return on investment, planning, and security. I answered that the risk is high. And ethics.
investing in skills
The report notes that not only are CEOs investing in the technical aspects of digital tools, but three-quarters (75%) are also investing in training to ensure their employees are digitally literate. .
CEOs are also keen to invest in themselves. One-third of CEOs believe they don't have enough digital knowledge to lead their companies to the next stage of growth. That's why 4 out of 5 CEOs enroll in training to improve their technology knowledge.
“CEOs are increasingly expected to understand and take responsibility for technology implementation, a task that was previously the purview of the CIO or CTO,” said Jeroen Kleinhoven, Benelux executive at AND Digital. states.
Source: anddigital
Rise of AI
It's no surprise that AI (artificial intelligence) is a major technology focus area for CEOs. “Many CEOs clearly recognize that AI has the potential to benefit their businesses,” the authors said.
AI delivers benefits across a myriad of areas, from improving customer experiences and streamlining processes to providing leaders with more advanced and strategic insights. AI can also transform the daily lives of employees by taking over repetitive tasks.
At the same time, AI creates new complexities within enterprises. In addition to ensuring that AI is used ethically, leaders often disagree on how best to approach, experiment, and validate use cases. This can sometimes lead to division within management. Almost half (44%) of CEOs feel that their executive team is not ready to implement AI in their organization.
Source: anddigital
The majority of CEOs (68%) are concerned about the use of AI due to ethical considerations. Surprisingly, a third of CEOs surveyed have even chosen to ban AI tools such as ChatGPT within their organizations.
Kleinhoven says this is key for CEOs and companies to take the right next steps in their digital transformation and AI journeys. “In this day and age, every company is a technology company, whether they realize it or not.”
