Technology is considered the top cause of change by C-suite leaders according to Accenture’s Pulse of Change: 2024 Index.
Based on a global survey of 3,450 C-suite executives across 20 countries and 19 industries, the Index identifies and ranks six factors of change affecting businesses using a range of key business indicators, such as labor productivity and IT spending.
Technology disruption, an opportunity
In China, 71% of C-suite leaders expect the acceleration of technology disruption in 2024. The majority (92%) see generative artificial intelligence as an opportunity, much higher than the global average (76%). Around 77% are positive that its adoption benefits revenue growth than costs reduction.
However, 47% of global leaders do not feel fully prepared for the accelerating rate of change in technology, with the majority (72%) of them becoming more cautious with investment, especially with responsible AI use concerns.
“We believe that the companies that will succeed in the next decade are those that embrace a strategy of continuously reinventing every part of their business using technology, data and AI, including harnessing the power of generative AI, and ensuring their people are at the center of their transformations,” Robert Hah, strategy & consulting lead, Accenture Greater China, said.
Faster rate of change
The study reveals that 88% of leaders worldwide anticipate an even faster rate of change in 2024, with 60% seeing change as an opportunity.
However, the majority (52% globally and 62% in China) admit not being fully prepared to respond to the change in the business environment in 2024.
The Index revealed that the rate of change has risen over the past four years at 183% and 33% in the past year alone.
