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A recent survey conducted by Gartner reveals a significant shift in CEO priorities, with “growth” emerging as the foremost business priority for 62% of CEOs in 2024. This figure marks the highest level of prioritization for growth since 2014, indicating a notable rise from the 49% of CEOs who deemed growth as their top priority in the previous year. David Furlonger, Distinguished VP Analyst and Gartner Fellow said the relatively weak focus on cost management suggests that most CEOs and senior business executives believe the most challenging economic times are already behind us. The 2024 Gartner CEO and Senior Business Executive Survey was conducted from July through December 2023 and included 416 CEOs and other senior business executives. These participants represented a variety of industries, revenue brackets, and company sizes across North America, Europe, Asia/Pacific, Latin America, the Middle East, and South Africa. The comprehensive scope of the survey aimed to capture top business leaders’ evolving priorities and strategies as they navigate the post-pandemic economic landscape. AI as a transformation catalyst Artificial intelligence (AI) has emerged as a critical focus area for business transformations, with 34% of CEOs identifying it as the primary theme following digital transformation. Operations efficiency followed at 9%. Don Scheibenreif, Distinguished VP Analyst at Gartner, highlighted the prominence of generative AI (GenAI) in displacing digital as the primary buzzword among top executives. The role of GenAI in business strategy Generative AI, in particular, has captivated the attention of CEOs, becoming a central theme in discussions about future business transformations. Scheibenreif noted that generative AI has surpassed digital transformation in terms of buzz and potential impact. He said CEOs are increasingly looking to their technology leaders to harness the power of GenAI and integrate it into their business strategies. This collaborative approach underscores the importance of teamwork…

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Filed under: News - @ July 22, 2024 5:24 am