Highlights:
- The Metaverse Is reported as one of the least important technologies
- Investments in Digitisation and Cybersecurity to continue
- Workplace issues high on the agenda
- Inflation is a major risk
Artificial intelligence (AI) is now reported as the most impactful new technology among CEOs for the third year in a row. Conversely, 63% of CEOs see the metaverse as either not applicable or very unlikely to be a key technology for their business, noted Gartner in a global survey of CEOs.
The annual Gartner survey of 400 CEOs and other senior business executives was conducted between July 2021 through December 2021 in North America, EMEA and APAC across different industries, revenue and company sizes.
Also read: Emerging Technologies key to more resilient Supply Chain for Victoria: New Report
CEOs’ View on Metaverse
Also read: The Most Impactful AI Projects In Australia
CEOs’ digital business ambition continues to rise, unabated by the pandemic and related crises.
Surprisingly, productivity and efficiency are not even in the top 10 business priorities for CEOs this year
Workforce issues, such as talent retention, moved up in priority for the second year in a row, only slightly behind technology-related issues such as digitalization and cybersecurity, and significantly ahead of financial issues such as profitability and cash flow.
Sixty-two per cent of CEOs see general price inflation as a persistent or long-term issue. Their top response to inflation is to raise prices (51% of respondents), rather than responding with productivity and efficiency (22% of respondents).
As the talent crisis threatens to impact Australian businesses, CEOs are responding in different ways
Responding to a journalist’s question on how inflation could impact NAB’s Tech Spend and Strategy, CEO Ross McEwan acknowledged the challenge in access to tech talent and revealed the costs could rise by about 2%.
In an update on CBA’s digital strategy and investments, CEO Matt Comyn announced a number of new initiatives aimed at delivering a more rewarding and personalised experience for customers.
