The KPMG CEO Outlook 2024 Shows Growth Disruptions and Hope in AI
The mood among CEOs of German companies regarding the economic situation remains tense: Only just over three in four (77 percent) company leaders still have confidence in their company's growth prospects over the next three years - compared to 80 percent in 2023 and even 90 percent in 2022. 74 percent are feeling increasing pressure to secure the long-term growth of their companies.
This is shown by this year's KPMG CEO Outlook, in which over 1,300 CEOs worldwide and over 120 CEOs of German companies took part. Generative AI is both a challenge and a hope: 54% of German CEOs see keeping pace technologically as the greatest challenge - ahead of the uncertain economic environment (52%) and dealing with geopolitical complexity (39%). The study also shows that CEOs of German companies are focusing primarily on generative AI and by no means expect the AI boom to come to an end.
They consider the successful implementation of generative AI to be the most important driver of growth (16%), followed by further digitalization of the business (15%). 58% consequently prioritize generative AI as a top investment, even in a difficult environment. This is accompanied by return expectations: 26% of CEOs are hoping for a corresponding return on investment in one to three years, 58% in three to five years.
However, top managers also see hurdles to implementation. Only 39% state that their company already has the necessary database, while only 38% have the right skills within the organization. 66% of them point to the ethically correct use of AI as one of the biggest challenges.
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