Return to office issues, cybersecurity and generative AI are weighing on the minds of America's chief executive officers, according to the recently released "KPMG 2024 U.S. CEO Outlook."
The latest edition of the multinational professional service network's "CEO Outlook" analyzed insights from more than 1,300 CEOs at large companies globally — including 400 in the United States — to examine how they are navigating challenges in today's workplace.
Among the most revealing findings:
- Nearly 80% of U.S. CEOs envision corporate employees whose roles were traditionally based in the office to be back in the physical workplace within the next three years — a marked shift from earlier this year, when just 34% of CEOs said the same thing. Only 17% envision these roles to be hybrid (46% earlier this year) and 4% envision them being fully remote (3% earlier this year). What's more, 86% of CEOs say they will reward employees who make an effort to come into the office with favorable assignments, raises, or promotions.
- Almost 70% of U.S. CEOs say GenAI is a top investment priority despite uncertain economic conditions, while just as many expect to see return from their investments in GenAI in three to five years. Meanwhile, 21% expect returns in just one to three years. When asked to identify benefits of implementing GenAI in their organization, CEOs most often cited increased efficiency and productivity through automating routine operations, upskilling the workforce for future readiness, and increased innovation.
Related: Amazon now requiring employees to be in office 5 days a week
- When asked to identify the top trends that could negatively impact their organization's prosperity over the next three years, many U.S. CEOs cited cybercrime and cyber security issues. Only a little more than half (54%) say their organization is well-prepared for a cyberattack, and 37% of CEOs are unsure if their organization's cybersecurity can keep pace with rapid AI advancements. Meanwhile, 41% are unsure if they will be able to secure the talent and solutions they need to defend against AI threats. Additionally, 69% of CEOs are increasing investments in cybersecurity to protect their operations and intellectual property from AI threats.
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