CIO OPINION
Francesco Marsella , Managing Partner and Global Leader of Growth and Transformation Practices at Arthur D Little , said , “ Given today ’ s business and geopolitical turmoil , it is extremely heartening to see that the CEOs of the world ’ s biggest companies are positive for the future .”
Innovation
The study reveals that despite acknowledging the continuing unpredictability , these leaders are confident that with resilient business models , strategic clarity , the embrace of AI , and a focus on upskilling their teams , their companies and markets are poised for enduring growth and will actively contribute to the region ' s prosperous future .
Critical to this outlook is the approach towards external growth factors . Globally , technology innovation remains the key growth driver , with raw material prices becoming a surging concern . Yet , in the Middle East , the angst surrounding raw material prices and supply chain stability shows a notable decrease , likely attributed to the region ' s rich energy reserves , particularly oil and gas .
The study shows that while they accept that conditions will remain volatile and turbulent , they believe a combination of resilient operating structures , clear strategies , AI innovation , and reskilling their people will enable their businesses to thrive in a sustainable future .
Adoption of AI
AI is more than a buzzword in the Middle East ; it is a strategic imperative that is receiving boardroom attention . CEOs are not just adopting AI but are strategically deploying it to unlock a new frontier of possibilities .
The commitment to integrating AI across business operations is seen as crucial to growth and echoes globally , with 54 % of Middle East CEOs expressing a strategic vision towards a holistic , company-wide AI deployment while 96 % of global CEOS have already deployed AI in some form .
While regionally 31 % confirm the implementation of AI strategies across several departments , an ambitious
13 % have already realised a compelling , enterprisewide AI strategy .
Since 2023 , AI usage has accelerated dramatically . In many ways , progress has been swift , 96 % of executives claim to have implemented an AI strategy within at least one department of their organisation , with 47 % having a strategic view toward AI .
However , just 13 % have adopted a comprehensive company-wide AI strategy , demonstrating that they are still on a transformation path to fully understand
Source : The CEO Global Insights Study for 2024 by Arthur D Little
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