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Business Leaders Embrace Digitalization for Future Growth, Survey Finds

TL;DR

  • Business leaders increasingly confident in digitalization for revenue growth.
  • Survey reveals three distinct attitudes toward AI adoption: Innovators, Explorers, Conservatives.
  • AI set to play a pivotal role in the future of business, says HLB CEO.

In the ever-evolving landscape of global business, a recent survey has shed light on the shifting attitudes of corporate leaders towards emerging technologies and digitalization. The HLB Survey of Business Leaders, now in its fifth year, has underscored the profound impact of digitalization on fostering innovation, creativity, and long-term prosperity for organizations. With over 1,000 global responses, this comprehensive study has segmented business leaders into three distinct categories: the Innovators, the Explorers, and the Conservatives.

Confidence soars as digitalization takes center stage

The survey’s findings reveal a remarkable transformation in the mindset of business leaders. Despite the persisting concerns of inflation, geopolitical risks, and economic uncertainty, a distinct change in attitude has emerged. Leaders now express high confidence in their ability to boost revenue in the coming year, propelled by increased agility and a significant uptick in the adoption of new technologies over the past five years.

Marco Donzelli, Global CEO of HLB, emphasized the resilience and adaptability exhibited by businesses in recent years, citing them as a testament to the enduring spirit of leadership that thrives in the face of adversity. “Recent years have brought a slew of challenges for businesses,” Donzelli noted. “The resilience and adaptability shown in these times have been nothing short of remarkable and testament to the enduring spirit of leadership that adapts, innovates, and thrives even in the face of adversity.”

Segmentation of business leaders

HLB’s survey has divided business leaders into three distinct categories based on their responses and attitudes towards technology adoption:

The Innovators – Harnessing the Competitive Edge (44%)**: This group of survey respondents are already utilizing or keen to implement Artificial Intelligence (AI) to gain a competitive advantage. Innovators, however, face the critical task of translating innovation into tangible business impact. Despite higher concerns about present-day risks, a staggering 49% of Innovators are very confident in their ability to drive revenue growth in the next year.

The Explorers – Seeking a Business Case**: The Explorers are open to adopting AI technologies but do not view it as an immediate priority. Only 10% strongly believe that emerging technologies, including AI, will be instrumental in driving innovation, creativity, and productivity for their businesses. Compared to Innovators, Explorers are more likely to maintain that global growth levels will remain stable (39% vs. 25% of Innovators).

The Conservatives – AI Not Yet a Priority**: Despite the strong momentum surrounding AI, not all companies have fully embraced it. The Conservatives, potentially more skeptical in general, exhibit lower confidence levels, with only 30% of this group expressing confidence in their ability to increase revenues over the next 12 months. Their focus lies elsewhere, with only 37% considering emerging technologies, including AI, as crucial for driving innovation, creativity, and productivity, in contrast to 91% of Innovators.

The future of business and AI

As the survey reveals, technology is advancing rapidly and reshaping the future of business through innovative adoption and progress. The accelerated embrace of new working models, mobile technologies, and cloud-enabled systems marks a significant departure from the norms of the past decade. Undoubtedly, AI will play a pivotal role in the future of business, with its potential to drive efficiency and innovation. 

HLB’s Global CEO, Marco Donzelli, expressed optimism about the role of AI in business, stating, “The accelerated embrace of new working models, mobile, and cloud-enabled, marks a departure from the norms of the past decade. Undoubtedly, AI will play a pivotal role in the future of business, and I look forward to what lies ahead.”

The HLB Survey of Business Leaders highlights the growing confidence of corporate chiefs in the transformative power of digitalization and emerging technologies. As businesses navigate an ever-changing landscape, those who embrace innovation and leverage the potential of AI are poised for long-term growth and prosperity, redefining the future of business in the process.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Glory Kaburu

Glory is an extremely knowledgeable journalist proficient with AI tools and research. She is passionate about AI and has authored several articles on the subject. She keeps herself abreast of the latest developments in Artificial Intelligence, Machine Learning, and Deep Learning and writes about them regularly.

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