Gartner survey finds: CEOs view AI as the top disruptive technology impacting the industry

Gartner Distinguished Vice President Analyst Mark Raskino said: “Generative AI will have a profound impact on business and operating models. However, fear of missing out is a powerful driver in the technology market. AI is reaching a tipping point, and CEOs who haven’t invested yet are beginning to worry that they are missing out on something important to be competitive.”

2023 Gartner CEO and Senior Business Executive Survey, July 2022 to December 2022 Conducted monthly with more than 400 CEOs and other senior business managers across North America, Europe, Asia Pacific, Latin America, the Middle East and South Africa, across a range of industries, revenues and company sizes.

Half of CEOs list growth as their top strategic business priority

Gartner Distinguished Vice President Analyst Kristin Moyer said: “CEOs are hesitant when setting business priorities. But it will not stand still. More than half of CEOs believe that the economic downturn or recession in 2023 will be superficial and short-lived, and the survey shows that concerns about cash flow, capital and financing have only increased slightly."

Despite the impact of economic headwinds, half of CEOs still see growth as their top strategic business priority over the next two years. Technology remains the top area of ​​concern for CEOs, followed closely by workforce issues (see Figure 1).

Figure 1: CEO top strategic business priorities 2023-2024 (sum of top three mentions)

Source: Gartner (2023 May 2019 Sexuality and next-level digital transformation will become levers for competitive performance.”

In fact, mentions of environmental sustainability increased by 25% from the previous year’s survey, marking the first time sustainability has been mentioned Included in the CEO’s top ten priorities. Gartner predicts that by 2026, environmental sustainability will become a higher strategic business priority for CEOs than technology-related categories.

Inflation drives changes in customer behavior

In the survey, 22% of CEOs ranked inflation as the most disruptive business risk, and nearly a quarter of CEOs believed that price Increased sensitivity is the biggest change they expect in customer expectations this year. However, raising prices remains the top CEO response to inflation (44%), followed by cost optimization (36%) and productivity, efficiency and automation (21%).

“What’s worrying is that CEOs don’t yet seem to be as focused on productivity as they would be in times of inflation, possibly because of wishful thinking that inflation won’t become a lasting feature of the economic landscape. CEOs must adopt automated measures to redesign methods, processes and products to increase efficiency rather than pushing cost increases onto customers.”

Attracting and retaining talent is a top priority for the workforce

When asked about various When looking at the impact of risks on their business, 26% of CEOs ranked talent shortages as the most disruptive risk to their organizations. By now, attracting and retaining talent has become a top priority for CEOs. Concerns about compensation are the biggest shift in CEO expected employee and potential employee behavior, followed by a desire for greater flexibility and remote or hybrid working.

Raskino said: "In an inflationary environment, the emphasis on compensation is not surprising, but in previous economic cycles, job losses have typically weakened the labor market."

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