The latest global research conducted by the IBM (NYSE: IBM) Institute for Business Value has unveiled a shift in CEO priorities. This comprehensive study, which surveyed 120 CEOs from the Middle East, highlights a strong emphasis on productivity and customer experience as their core concerns over the upcoming three years.
Offering profound insights into the mindset of CEOs worldwide, the annual CEO study*, titled “CEO decision-making in the age of AI, Act with intention,” brings to light that within the Middle East region, 50% of CEOs anticipate regulatory factors to continue significantly influencing organizational dynamics. Furthermore, 48% point to technological factors as pivotal in shaping the future of their respective enterprises.
In a period where digital acceleration is reshaping both the regional and global economic landscapes, Middle East CEOs are anticipating substantial gains from advanced AI solutions. Among the respondents, 61% are confident that AI, encompassing generative AI, deep learning, and machine learning, will yield tangible outcomes in the years ahead. Moreover, 55% of CEOs view cloud computing as an indispensable asset for achieving favorable results, while 51% acknowledge the role of automation in driving success.
The recently released report also highlights the range of challenges faced by CEOs in the Middle East. According to the study, 47% of executives in the region identify environmental sustainability as the foremost challenge in the coming years, with 28% of respondents highlighting the significance of diversity and inclusion as pressing issues. The survey further indicates that 28% of CEOs consider expanding market share to be a key challenge over the next three years.
A noteworthy trend among Middle East CEOs is their growing recognition of technology’s influence on their prospects. A rising number of executives are relying on technology and data leaders as pivotal decision-makers in their strategic endeavors. Impressively, 73% of surveyed CEOs believe that Chief Operations Officers will play a critical role in their strategic decision-making process. Additionally, 48% attribute essential strategic guidance to Chief Financial Officers, while 32% underscore the role of Chief Information Officers in charting the strategic course of their businesses and organizations.
Saad Toma, General Manager of IBM Middle East and Africa, emphasized, “Generative AI has the potential to revolutionize productivity, efficiency, and service quality across industries, removing barriers to AI integration. To successfully implement emerging generative AI applications at scale, CEOs must assess their company’s needs across areas such as CRM, HR, modernization, data privacy, security, and sustainability.”
The ascent of generative AI as a tool for business and decision-making marks a pivotal juncture. CEOs are urged to formulate clear strategies, establish necessary capabilities, and navigate disruptions of varying natures without losing sight of their strategic vision. This balance is imperative for achieving objectives and securing their organizations’ future.
