“If it was a simple decision, someone—or something—else would have made it.”
Bravo IBM Institute for Business Value for producing this thought provoking insight on CEO’s having to make critical decisions almost at lightning speed far beyond financial data and operational data.
The IBM Institute for Business Value, in cooperation with Oxford Economics, interviewed 3,000 CEOs from 30+ countries and 24 industries as part of the 28th edition of the IBM C-suite Study series. These conversations, completed from February through April 2023, focused on executives’ perspectives on leadership and business; their changing roles and responsibilities; and CEO decision-making today, including key challenges and opportunities, their use of technology, data, and metrics, and their visions for the future. Insights were also drawn from numerous client conversations including more than a dozen deep-dive interviews with CEOs conducted explicitly for this study from March through May 2023
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Ask CEOs what they use to make decisions and two areas rise to the fore: financial data and operational data.
Ask CEOs what the most challenging issues are for them over the next several years and you’ll get a list that moves far beyond financial data and operational data, into complex issues that require a host of inputs. From sustainability, to cybersecurity, to diversity, equity, and inclusion, CEOs are grappling with the increase in complexity.
Chief executives are making decisions faster than ever in a world that has moved beyond looking solely at shareholder value. In a world where we are debating the ethics and feasibility of AI-driven decision-making versus human involvement, where previously unknown generative AI brand names now roll off the tongues of businesspeople around the world, how do top-performing CEOs make the right calls? Particularly given the fact that they—like their less successful peers—are compelled to focus on the very areas where they are least experienced and likely have the smallest amount of historical data.
It is an epic challenge.
75% believe competitive advantage will depend on who has the most advanced generative AI.
50% are now integrating generative AI into products and services.
43% are using generative AI to inform their strategic decisions.
