CIO OPINION

In the Middle East , the fintech sector will be of primary importance for the future 3 – 5 years .

Thomas Kuruvilla , Managing Partner , Arthur

D Little Middle East

Francesco Marsella , Managing Partner and Global Leader of Growth and Transformation Practices , Arthur D Little

CEOs of the world ’ s largest companies are increasingly positive about the prospects for growth and rather than being cowed by uncertainty , CEOs are thriving in a time of turmoil , understanding that volatility is now the new normal in the world of business . Thomas Kuruvilla and Francesco Marsella at Arthur D Little share highlights of their findings .

In the Middle East , the fintech sector will be of primary importance for the future 3 – 5 years . 61 % of Middle East CEOS expect market improvement ahead , with optimism growing more than 4 times since 2023 .

Overall , telecom , travel and transportation CEOs focus shifted from workforce transformation and e-commerce to AI and digital transformation while automotives and energy and utilities leaders see ESG outpacing AI . The report finds a strong push from CEOs to focus on reskilling to meet the needs of the future .

Confidence

The 2024 CEO Insights Study by Arthur D Little reveals economic confidence among leaders in the Middle East . A significant 61 % of CEOs are optimistic about economic growth in the next three to five years , a noticeable jump from just 13 % last year . With the world ’ s economy showing ups and downs , 37 % of these leaders still see a steady future , reflecting their trust in the region ' s economic

strength . Only a small 2 % expect a decline , which suggests a shared belief that the Middle East is on the rise after overcoming recent obstacles .

In 2023 , half of CEOs expressed confidence that their existing organisational structures were strong enough to navigate business priorities and market volatility , although just 4 % classed them as superior .

The testing conditions of the last 12 months demonstrated that CEOs were underselling the benefits of the structures they had put in place ; while half still feel their organisations are strong , 16 % now see them as superior and none sees them as inadequate .

This improved confidence is visible across all sectors , particularly energy and utilities , with 32 % of CEOs feeling structures are superior , compared to 3 % in 2023 , telcos , from 0 % superior to 13 %, and financial services , up again , from 0 % to 10 %. Overall , CEOs are confident that they have strong organisational structures in place to move forward and target their growth goals .

Thomas Kuruvilla , Managing Partner at Arthur D Little Middle East , said “ In the current times of business and geopolitical shifts , it is inspiring to witness the optimism among the Middle East ' s CEOs for what lies ahead .

44 INTELLIGENTCIO MIDDLE EAST www . intelligentcio . com