AI is shaking up the role of chief executive officer — with boards and employees putting CEOs on notice that they expect clear leadership around AI efforts and a cottage industry forming to support CEOs struggling with these new demands.
Why it matters: CEOs are in the hot seat because fast-developing generative AI has put tech back at the top of business agendas.AI cuts across business functions and industries and hands CEOs a change management challenge that some worry could cost them their jobs.
The intrigue: Globalization upended blue collar work, and AI is widely predicted to disrupt many white collar tasks — but until now few have argued that CEOs themselves are in AI's crosshairs. READ MORE...
Most CEOs are already preparing for a recession, which they think will slash earnings and stunt growth, according to a new survey by KPMG.
Measures companies plan to take to weather the recession include cutting ESG spending and laying off staff, the survey, which canvassed the opinions of the CEOs of 400 American companies with annual revenues of at least $500 million, showed.
The vast majority of CEOs – 91% – said they thought there would be a recession within the next year, and only a third said it would be mild and short. 80% said they thought it would affect their organization's anticipated growth over the next three years.
Goldman Sachs analysts said in August that there was a 30% probability that the US would enter a recession over the next 12 months, but that a recession in the Euro area was twice as likely. READ MORE...
