KPMG 2024 Technology and Telecommunications CEO Outlook

2

Industries

11

key markets

$500m

USD+ in revenue

Despite macroeconomic, geopolitical and other challenges, confidence remains relatively robust in 2024 for CEOs in technology and telecommunications companies. The findings suggest that these CEOs are basically optimistic about the future of their industries and their companies in particular. In many cases, this assessment represents a modest but positive uptick from the 2023 survey.

Generative AI was recognized as having perhaps the greatest potential to impact productivity, marketing, product development, the customer experience, and other areas. Almost 80 percent of CEOs anticipate generative AI to be the top investment priority for their company.

In addition, CEOs recognize the importance of environmental, social and governance (ESG) priorities that support net zero goals, the workforce, company stakeholders, and society at large. One key to success will be an unrelenting focus on long-term, sustainable growth, enabled by strategic planning across all functions of a company.

KPMG 2024 Technology and Telecommunications CEO Outlook

Cautious optimism backed by strategic planning

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2024 CEO Outlook Technology and Telecommunications

Key findings from our research

55%

In 2024, the top three challenges for technology and telecommunication CEOs include the adoption of generative AI (55 percent), economic uncertainty (49 percent), and geopolitical complexities (49 percent).
40%

Forty percent of the CEOs expect the company to grow by 0.01–2.49 percent over the course of next three years, a decrease of 5 percentage points when compared to 2023.
78%

Seventy-eight percent agree that generative AI is a top investment priority for their company.
55%

Fifty-five percent anticipate the movement to embed generative AI as the most important potential risk to their company.
71%

Seventy-one percent of the CEOs feel increasingly pressured to ensure long-term prosperity of their business.
46%

The number of CEOs confident about reaching their net zero goals by 2030 has increased from 36 percent in 2023 to 46 percent in 2024.