IMPORTANT POINTS:
- CEOs present better confidence in 2023 in comparison with 2022.
- 72% prioritize investments in synthetic intelligence, however 81% worry the dearth of regulation.
- The return to in-person work and the cost of living are dominant concerns amongst CEOs.
Despite excessive borrowing prices and financial uncertainty, US CEOs are extra assured than a yr in the past. In reality, far more: 77% this yr versus 34% in 2022, in response to a brand new survey launched by KPMG on Thursday.
“American and global companies, and especially in the US, have been very, very resilient. The recession that was predicted some time ago has not yet really emerged. “You could argue that there have been some sectoral recessions, but not the macro recession that everyone expected.”
Paul Knopp, CEO of KPMG.
AI dominates priorities
Despite the financial challenges, the race to mastering and maximizing synthetic intelligence with investments is a precedence for 72% of CEOs. However, a better quantity, 81%, worry that the lack of regulation might forestall their corporations from absolutely maximizing their earnings and progress potential.
“There has been a call for more regulation because concerns are clearly on the table of many business leaders, legislators and the general public about the ethical uses of generative AI and about the safe uses of generative AI.”
Knopp.
Cost of living worries
On the opposite hand, when delving into the survey numbers, 80% of CEOs overwhelmingly share concerns together with cost of living. Although inflation has decreased from its peak of 9.1% in June 2022 to three.7% in August, sure prices proceed to extend.
“The natural forces behind higher labor costs continue to fuel some inflationary pressures. Secondly, raw material costs, and in particular energy costs, will likely remain elevated, as will food costs due to climate impacts.”
Knopp.
Return to face-to-face work
And with the work-from-home pattern firmly established or the hybrid mannequin of two to 3 days within the workplace, even with the worst of the pandemic behind us, 62% of CEOs acknowledge that this It shouldn’t be the perfect mannequin for progressrising from 34% in 2022. Many count on to see extra employees return within the subsequent three years.
“I think that tells us that business leaders believe their organizations will be more productive in the future if employees spend more time in person, collaborating in person, 90% indicated that they were willing to offer incentives for employees to return to the workplace.” workplace”.
Knopp.
Finally, you will need to notice that KPMG surveyed greater than 1,300 CEOs of giant world corporations, of which 400 are primarily based within the US.
