Australian findings
PwC's 22nd CEO Survey: Widening Gaps and a Positivity Lapse
The year 2019 looks set to be a turning point for business. Rising pessimism around growth prospects, and populist and protectionist sentiment are cause for both local and global CEO concern. ‘Widening Gaps and a Positivity Lapse’ explores what’s required in Australia to lean into these concerns including growth outlooks and gaps in response to trade pressures; decision gaps around data adequacy and analysis; talent, workforce and skill gaps, value gaps of artificial intelligence and a transparency and trust gap.
Key findings
2019 looks set to be a turning point for business, with rising pessimism around growth prospects and populist and protectionist sentiment a cause for both local and global CEO concern.
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Availability of key skills is a threat to growth, many businesses are having to reflect on how to attract, train and retain their workforce. There is an opportunity to shape the agenda beyond the boardroom by working with academia and government on how to prepare the next generation for the world of work.
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When it comes to being able to support decision making, there is still a divide between the information business leaders want and how comprehensive they feel the data is. In fact, CEOs felt that the data they had 10 years ago was more adequate than it is today.
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Artificial intelligence has the potential to supercharge growth, but without clean, relevant, and labelled data - and the workforce to harness this - organisations are stymied in their efforts to move aggressively on AI.
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After six consecutive years of rising CEO concern about a lack of trust in business, this concern falls from a high of 65% last year to 56% in 2019. We expect this concern to fall further as leaders understand and act on the changes customer expectation means for their business.
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