NEW
YORK, July 31, 2024 /PRNewswire/ --
Key takeaways
- Seventy-three percent of CEOs are optimistic about their
company performance for the next 12 months.
- Over half (51%) of CEOs are confident in their organization's
ability to weather geopolitical instability, which is the top
concern of 60% of survey respondents.
- Forty-three percent of CEOs are confident in their
organization's ability to navigate inflation.
- Approximately 4 in 10 (43%) of CEOs have implemented Generative
AI (GenAI) into their organizations to drive innovation.
Why it matters to CEOs
The "Fortune/Deloitte CEO
Survey" tracks the perspectives and actions of CEOs from some of
the world's largest and most influential companies. The survey
gives key insights into CEOs' priorities, challenges, and
expectations across more than 15 industries, including technology,
finance and health care. Please download the full summer 2024
survey here.
Overview
The summer 2024 Fortune/Deloitte CEO survey
found that, despite continued headwinds and additional uncertainty
posed by the forthcoming U.S. elections, CEOs are confident in
their ability to navigate their organizations through disruption.
While geopolitics, inflation, and regulation dominate CEOs' list of
disruptions facing their organizations, CEOs believe they can
manage through these issues, despite the uncertainty ahead. They
are deploying GenAI to drive growth and accelerate innovation, as
well as continuing to use it for activities such as task automation
and risk management. Additionally, with the upcoming elections in
mind, CEOs are scenario planning to prepare for any possible
outcome.
Amidst uncertainty, CEOs appear to be taking a mindful approach
to their leadership, controlling what they can control and planning
for what they can't control.
Growth and outlook
Seventy-three percent of CEOs are
optimistic or very optimistic about their organizations'
performance, while many noted that strategic business issues, such
as navigating uncertainty and managing growth, top their list of
challenges. CEOs were less enthusiastic in their outlook toward
their industry and the global economy, with only 48% and 29%
indicating optimism respectively.
Key disruptors
Geopolitical instability leads the list
of disruptors for CEOs for the third season in a row, with 60%
pointing to that as a top concern. Inflation gained as a concern
for CEOs increasing from 27% tracked in the winter 2024 survey to
45% this season.
Separately, 30% of CEOs indicated concerns over regulation,
though 47% reported confidence or high confidence that they could
navigate changes in the regulatory environment.
Workforce and talent issues also remain high on CEOs list of
disruptors, as many CEOs reported challenges engaging junior
professionals.
Generative AI (GenAI)
While CEOs continue to focus on
GenAI for operational efficiency they are also exploring new use
cases to drive business growth and innovation. The number of
CEOs who report implementing GenAI to discover new insights (45%)
and accelerate innovation (43%) increased.
The majority of CEOs reported experimenting with or actively
using the technology in their own roles with use cases ranging from
developing first drafts, to increasing understanding of the
technology, to innovating and piloting new business cases.
2024 U.S. election
As November's election
approaches, most CEOs expect it to have the most impact on taxes
(46%), regulation (46%), and international trade and tariffs (45%)
for their businesses, pending the results. To prepare for any
outcome, CEOs reported focusing on risk management/contingency
planning and business operations/strategy adjustment-related
activities.
DEI
CEOs appear committed to prioritizing diversity,
equity and inclusion (DEI), though competing priorities and the
complexities of measuring DEI outcomes are barriers to success.
Forty percent of CEOs report building DEI into their strategic
priorities/goals, perhaps demonstrating a widespread awareness that
DEI success is not separate or isolated from other organizational
activities. Other focus areas around DEI activities include setting
measurable targets with their executive team and providing regular
updates to their board on DEI progress.
Key quotes
"CEO concerns about geopolitics, inflation, and ideological
polarization intensify in the face of continued uncertainty,
prompting robust scenario planning. Leaders are not only
strategizing to navigate these complexities but are also committed
to supporting their peoples' resilience. Additionally, it is
encouraging to see the proactive adoption and personal exploration
of Generative AI by CEOs to drive innovation and enhance their
daily work."
— Jason Girzadas,
CEO, Deloitte US
"CEOs, regardless of where they are on the political spectrum,
are clearly concerned about volatility in the regulatory
environment and the impact it's having on business. They see the
promise of AI and how it could help their companies be leaders in
this next wave of innovation. But they also need policymakers to
create an environment for their businesses to thrive."
— Diane Brady,
Executive Editorial Director, Fortune Live Media and Fortune CEO
Initiative
Survey methodology
Fielded between June 11 and 26, 2024,
over 80 CEOs representing more than 15 industries shared their
perspectives, expectations, thoughts and priorities for the next 12
months. Those leaders surveyed include Fortune 500 CEOs, Global 500
CEOs, and select CEOs in the global Fortune community. The summer
2024 survey is the 13th edition of the "Fortune/Deloitte CEO
Survey" series.
About Fortune
Fortune upholds a legacy of
award-winning writing and trusted reporting for executives who want
to make business better. Independently owned, with a global
perspective and digital agility, FORTUNE tells the stories of a new
generation of innovators, builders, and risk takers. Online and in
print, FORTUNE measures corporate performance through rigorous
benchmarks, and holds companies accountable. FORTUNE creates
communities by convening true thought leaders and iconoclasts —
those who shape industry, commerce and society — through powerful
and prestigious lists, events and conferences, such as the iconic
Fortune 500, the CEO Initiative, and Most Powerful Women. For more
information, visit fortune.com.
About the Chief Executive Program
Deloitte's Chief
Executive Program, part of Executive Accelerators, is dedicated to
advising chief executives throughout their careers — from
navigating critical points of inflection, to designing a strategic
agenda, to leading through personal and organizational change.
Connect with us on Twitter @DeloitteUS or on LinkedIn
@Deloitte.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and
advisory services to many of the world's most admired brands,
including nearly 90% of the Fortune 500® and more than 8,500
U.S.-based private companies. At Deloitte, we strive to live our
purpose of making an impact that matters by creating trust and
confidence in a more equitable society. We leverage our unique
blend of business acumen, command of technology, and strategic
technology alliances to advise our clients across industries as
they build their future. Deloitte is proud to be part of the
largest global professional services network serving our clients in
the markets that are most important to them. Bringing more than 175
years of service, our network of member firms spans more than 150
countries and territories. Learn how Deloitte's approximately
457,000 people worldwide connect for impact at
www.deloitte.com.
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SOURCE Deloitte