Summer 2023 Fortune/Deloitte CEO Survey Insights has been saved
Summer 2023 Fortune/Deloitte CEO Survey Insights
Calm in the face of the disruption
Despite geopolitical disruption and looming economic concerns, CEOs remain focused on navigating through uncertainty. While the challenges are many, today’s CEOs demonstrate incredible resilience through their ability to navigate external factors and continue to explore and invest in emerging technologies. Below are highlights from the most recent Fortune/Deloitte CEO survey.
- Challenges and disruptors: Geopolitics unseats talent as top CEO challenge for the first time in two years.
- Outlook: More than half of CEOs anticipate a recession, yet expectations for company growth hold steady.
- Emerging technology: Technology continues to be a top priority for CEOs as they adapt to an ever-changing environment while managing a variety of implementation challenges.
- Generative AI: Generative AI adds another ripple in the wave of disruption as CEOs balance how to take advantage of new opportunities to increase efficiencies, enhance growth, and reduce costs while managing risk.
While CEOs are split around their predictions for a recession, the majority are confident they can sustain some level of growth for their organization. Despite a variety of increasingly complex challenges, from geopolitical uncertainty to economic volatility, CEOs are focused on capturing the early opportunities of emerging technologies while maintaining a cautious approach and managing risk.
— Jason Girzadas, CEO, Deloitte US
Disruptors: Geopolitics unseats talent as top CEO challenge for first time in two years.
For the first time since June 2021, talent is no longer the biggest challenge CEOs face today with geopolitics, the economy, and uncertainty rising to the top of the list. This shift may reflect the confidence CEOs have in their companies’ ability to navigate labor challenges and inflation while sharing greater concern about navigating geopolitics and financial uncertainty. At the same time, geopolitical instability and inflation top the list of external factors expected to disrupt business strategy in the next year.
Market uncertainties due to inflation, interest rates... and geopolitical tensions.
— CEO survey respondent, when asked about their biggest challenge
Outlook: More than half of CEOs anticipate a recession, yet the majority still expect some degree of organization growth.
Despite increasing concerns around geopolitical conditions and a recession, the majority of CEOs still expect some degree of growth for their organization over the next year—highlighting the continued resilience and cautious optimism CEOs have demonstrated for the past few years. When considering economic indicators, CEOs predict only mild fluctuations from current levels with inflation decreasing slightly and the Fed Funds interest rate, S&P 500, and unemployment rates increasing slightly.
Emerging technology: Forging new ground despite obstacles.
CEOs continue to explore and invest in emerging technologies while staying the course with business strategy as they manage implementation challenges from workforce skills to applicable use cases and technology maturity.
Generative AI and the changing nature of work: Prioritizing decisions and choosing opportunities wisely.
Still early in its adoption, Generative AI adds another ripple in the wave of disruption. CEOs once again demonstrate their ability to be ambidextrous—simultaneously focusing on the present and the future.
Over half (55%) are evaluating & experimenting with Generative AI.
79% believe Generative AI will increase efficiencies and half (52%) believe it will increase growth opportunities.
Over a third (37%) are currently implementing Generative AI to some degree.
This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.
Explore past editions of the Fortune/Deloitte CEO Survey