63% of CEOs view metavars for business as “not applicable”

The way leaders look at issues such as management, purpose, cost and productivity has changed significantly. This is according to an annual survey of Gartner’s CEO and senior executives. The study also looks at global concerns surrounding the debate over sustainability, changes in employee models, and rising inflation.

“2022 is the year when CEOs’ perspectives really change,” says Mark Ruskino, Gartner’s distinguished vice president of research. “Outbreaks appear to be exacerbated during this time, with the emergence of deeper social trends, such as the desire to change our approach and the fragility of long-distance global supply chains. More recently, due to Russia’s invasion of Ukraine, CEOs now have to deal with macroeconomic factors, such as inflation.

Analysts reinforce the high demand of organizations for new phases of digitization of operations. “In this context, the CEO’s digital business ambitions are growing exponentially, even facing epidemics and related crises.”

Gartner’s 2022 annual survey of CEOs and senior business executives was conducted between July and December 2021, and was attended by more than 400 CEOs and other business executives from companies in various industries across North America, Europe and Asia-Pacific. , Recipes and shapes.

metaverse

For the third year in a row, CEOs have named Artificial Intelligence (AI) as the most effective new technology. On the other hand, 63% of executives suggest that Metavers is a technology that is ‘not applicable’ or that it is ‘very unlikely’ to be strategically adopted in business.

“In the past, some CEOs have embraced new technology ideas because they were so excited,” says Ruskino. “In the case of Metavers, however, it is doubtful that respondents who think it is an important technology for their business are as confident as they think it is.”

“The list of remaining influential technologies reminds us that the ‘new’ is in the eye of the beholder. Digitization or e-commerce, second and fourth place, respectively, are not relatively new. The bringer understands. “

Environmental problems

For the first time in the survey’s history, CEOs ranked environmental sustainability in their top 10 strategic business priorities, ranking 8th – a significant jump to 14th in 2019 and 20th in 2015.

“As business leaders feel pressured by key stakeholders to do more for environmental sustainability, they are now tackling the necessary changes as an opportunity for business efficiency and revenue growth,” analysts report.

74 percent of CEOs agree that increased environmental, social and governance (ESG) efforts attract investors to their companies. Of the 80% CEOs who want to invest in new or improved products this year and next, environmental sustainability is cited as the third biggest driver behind only performance and overall quality. Sustainability is also seen as a competitive difference for CEOs in 2022 and 2023 – in fact, it is at the same level of brand trust among respondents.

Persistent problem

Sixty-two percent of CEOs see total inflation as a permanent or long-term problem. Their main response to inflation is to raise prices (51% of respondents) rather than respond productively and efficiently (22% of respondents). In fact, productivity and efficiency are not even among the top 10 business priorities for CEOs this year.

“Obviously, there’s some complacency around the impact of inflation,” Ruscino says. “When asked about the top two sources of competitive diversity, only 3% of CEOs mentioned price. Gartner expects this to change as inflation continues to rise. “

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