Around 56% of business leaders retain confidence in their organisation’s growth in 2024, according to Capgemini Research Institute’s Embracing a brighter future: Investment Priorities for 2024 report.
“Business leaders are beginning the year with an increased sense of confidence compared to 12 months ago, with technology and AI set to drive the next phase of the transition towards a more digital and sustainable global economy,” says Aiman Ezzat, Capgemini's Chief Executive Officer.
A key focus of investment
Based on a survey of 2,000 business leaders globally, 88% of business leaders plan to focus on AI investments as they realise their potential for innovation and revenue growth.
Business leaders are increasingly considering investing in cybersecurity, with more than half (61%) seeing cyber threats as a leading risk to business growth compared to 39% in 2023.
Organisations also plan to increase investment in sustainable practices, with 57% of business leaders intending to increase investment in clean tech in the US over the next 2-3 years.
Business executives still believe in retaining flexible and hybrid work engagements with a quarter of them planning to increase investments in office space, compared to only 4% in 2023.
“It is good news that business leaders are increasing investments in a wide array of critical business areas from customer experience and innovation to talent and supply chains, and perhaps even more importantly sustainability. We have only scratched the surface of what digital tools and technologies, in particular AI, can achieve to reach these business objectives,” Ezzat adds.
Sustainability in Asia
Like the rest of the world, Asia has also set its sights on net zero by 2050. And it has to! Asia is home to half of the world’s top ten emitters and is extremely vulnerable to climate change – as seen from the devastations that earthquakes, droughts, tropical cyclones and natural calamities.
"Facing Asia's transition towards sustainability and digitalisation, CIOs hold the key to creating growth and impact. In Singapore alone, 58% of Singapore business leaders are scaling up sustainability investments in the coming year, and 93% plan to focus on emerging technologies such as AI and generative AI."
Olaf Pietschner
Olaf Pietschner, CEO of CapGemini Asia-Pacific says CIOs must also empower a diverse workforce where humans and technology collaborate to drive innovation for business, customers, and our planet.
"We believe in leveraging technology to augment human capabilities, not replace them. By investing in both talent and the right technological infrastructure, CIOs can unlock true business and sustainability potential," he concluded.