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RESEARCH REPORT

Pulse of Change: March 2024

The Accenture Pulse of Change is a quarterly C-suite survey probing into how business, talent and technology trends are shaping and driving change. The latest survey was fielded in March 2024.

5-MINUTE READ

April 22, 2024

In brief

  • C-suite leaders are highly optimistic about growth in 2024, with increasing expectations for strong revenue expansion—though moderate growth forecasts have declined.
  • Investments in generative AI (Gen AI) are a priority, but a majority of C-suite leaders do not feel confident in their current digital strategies to capitalize on these investments.
  • Belief in Gen AI's return on investment (ROI) is strong, with half of C-suite leaders expecting to scale it enterprise-wide within a year, yet extensive adoption remains limited.
  • There is a critical need for personalized learning and workforce reskilling in Gen AI, but commitment to training is lacking, including decline in personal use among leaders.

Key findings

2024 Growth projections

85%

of C-suite leaders anticipate achieving growth in 2024

38%

of those leaders are projecting "strong growth" (greater than 5%) for their organizations in 2024 

47%

of C-suite leaders now project any growth (up to 5%)

While most C-suite leaders (85%) say they anticipate achieving growth in 2024, there appears to be a growing gap between those who are super optimistic vs. those that seem to be more speculative.

  • C-suite leaders projecting "strong growth" (greater than 5%) for their organizations in 2024 has increased—38% vs 26% six months ago.

  • However, those who now project any growth (up to 5%) has fallen by 20% in six months—67% vs 47%.

Technology investments on the rise

78%

of C-suite leaders plan to slightly increase tech investments as a percentage of revenue

60%

are prioritizing investments in strengthening their digital core

85%

are focused on increasing Gen AI investments

More than three-quarters of C-suite leaders (78%) plan to slightly increase their technology investments as a percentage of revenue in 2024.

  • 60% are prioritizing investments in strengthening their digital core. 85% are focused on increasing Gen Al investments.

  • After a period of experimentation, most C-suite leaders believe that Gen Al will bring value to their business.

  • More than 8 in 10 (85%) are confident that they will reach the expected ROI from their spending on Gen Al in 2024.

  • Yet, the majority cite adapting to advancements in technology as their top area of concern in 2024."

Scaling Gen AI: Opportunities and challenges

50%

of C-suite leaders believe their organization will fully scale Gen Al in 6-12 months

10%

claim to have scaled with extensive adoption across their enterprise 

50% of C-suite leaders believe their organization will fully scale Gen Al enterprise-wide in 6 to 12 months.

  • However, Gen Al is being scaled in select business areas either extensively (56%) or in a limited way (nearly 30%). Only 10% claim to have scaled with extensive adoption across their entire enterprise.

  • Just 13% are 'extremely confident' they have the right data strategy and core digital capabilities in place to effectively leverage Gen Al.

  • While organizations appear to want to scale gen Al rapidly, they need guidance in scaling their responsible data and Al models. Just 14% of organizations are fully integrating one into their enterprise.

A continued need for widespread training

C-suite leaders recognize two things:

1st

that they themselves need to understand Gen AI

2nd

the need for widespread Gen AI training across the organization

75%

believe they require at least some level of training in Gen Al, with 15% recognizing the necessity for extensive training in this area

35%

35% of C-suite leaders claim to be personally using Gen Al tools at least once per week, down from 61% just six months ago

50%

50% think their organization primarily requires intermediate-level training in Gen Al, while over 40% believe advanced training is the most crucial need

  • Only 35% claim to be personally using Gen Al tools at least once per week, down from 61% just six months ago. 3 out of 4 believe they require at least some level of training in Gen Al, with 15% recognizing the need for extensive training.

  • As a specific means of enabling growth, 60% are implementing emerging technologies such as Gen Al to boost employee productivity-yet only 33% are in the process of reskilling their workforce to support this growth.

  • More than half think their organization primarily requires intermediate-level training in Gen Al, while over 40% believe advanced training is the most crucial need.

Methodology

Accenture Pulse of Change probes C-suite leaders on the issues and technology that are driving change, how leaders are responding and their perspectives on the future. For the latest edition, Accenture Research conducted a survey of 2,800 C-suite executives across 18 countries and a variety of industries and functions. The survey was fielded in March 2024. The global sample has a margin of error of +/- 1.9%.

• Chief Executive Officer

• Chief Financial Officer

• Chief HR Officer

• Chief Marketing Officer

• Chief Sales/Customer Officer

• Chief Experience Officer

• Chief Operating/Supply Chain & Operations Officer

• Chief Production Officer/R&D lead

• Chief Strategy Officer

• Chief Innovation Officer

• Chief Technology Officer

• Chief Information Officer

• Chief Data/Analytics Officer

• Australia

• Brazil

• Canada 

• China 

• France 

• Germany 

• India 

• Ireland 

• Italy

• Japan

• Netherlands 

• Singapore

• South Africa

• Spain

• Sweden 

• Switzerland 

• United Kingdom

• United States

• Aerospace and Defense

• Airline, Travel, Transport

• Automotive

• Banking (Retail)

• Capital Markets (including Investment Banking)

• Chemicals 

• Communications, Media, and Entertainment

• Consumer Goods

• Energy 

• Health 

• High Technology

• Industrial Goods and Equipment

• Insurance 

• Life Sciences

• Natural Resources

• Public Service

• Retail 

• Software and Platforms

• Utilities