Sep 12, 2016
From the Global Enterprise Institute
The U.S. Technology Industry CEO Outlook survey, entitled “Collaboration between humans and technology is creating a new labor class,” is based on a survey of 138 CEOs in the United States from internet, hardware, software, cloud and IT services companies. The survey identifies key trends including strategic priorities, revenue/headcount/geographic growth, innovation management and risk concerns.
In this KPMG publication, insights from 138 U.S. tech industry CEOs reveal trends surrounding strategic priorities, innovation management, digital labor, risk concerns, partnerships, and future revenue growth. Key findings include:
- CEOs identify the digitization of their business, stronger client focus, implementing disruptive technology, minimizing cybersecurity risk, and talent development as their top strategic priorities.
- Seventy percent of the respondents describe their approach to innovation as strategic or accelerated, and 80 percent say they use disruptive technologies to improve products and services.
- Tech CEOs plan to increase both digital and human labor investments as their co-existence can enhance human skills and expertise. About three-fourths of U.S. tech industry CEOs believe automation and machine learning are likely to replace at least 5 percent of their sales, marketing, technology, and manufacturing workforce over the next three years. At the same time, more than half (55 percent) expect their company’s headcount to grow at least 6 percent.
- Recognizing the importance of information security in protecting their companies and maintaining customer trust, about 4 out of 10 tech CEOs identify cybersecurity as their top risk, followed by regulatory, and brand/reputational risk.
- Nearly 8 out of 10 tech CEOs see collaboration, joint ventures and partnering as a leading approach to driving shareholder value for the next three years.
- Almost 60 percent of CEOs expect 2 percent to up to 5 percent annual revenue growth for their organizations over the next three years, while 17 percent expect growth between 5 and up to 10 percent.