Published on November 16, 2023, 7:54 pm

The latest findings from the 2023 Gartner CEO and Senior Business Executive Survey indicate that corporate leaders are moving away from reactive decision-making and embracing a more stable environment. This shift allows executives to cautiously return to long-term planning. However, with the COVID-19 pandemic permanently altering consumer and employee behaviors, successful strategies now need to accommodate and capitalize on these changes.

According to esteemed VP analyst at Gartner, Mark Raskino, CEOs may initially hesitate, but by 2023 they will overcome their reservations and pivot towards a growth-oriented mindset in 2024 and beyond. In the short term, companies are facing budget constraints and striving to improve margins and profitability. To achieve this, targeted productivity improvement programs are advised, focusing on high-impact roles and activities. One way to achieve this is by leveraging AI and robot automation. Raskino emphasizes that it is important not just to automate existing outdated processes but also be willing to reinvent methods, processes, and even products.

In a recent presentation at the Gartner IT Symposium/Xpo, Raskino delved deeper into the challenges CEOs will face in 2024 and outlined their top priorities for the coming year. Together with fellow distinguished VP analyst Kristin Moyer, they highlighted the importance of aligning technology strategies with the overall direction envisioned by the CEO. They discussed the top 10 priorities that CIOs and technology leaders should pay attention to in order to better support their organizations.

One critical priority emphasized during their discussion is responsible profitability. Investors currently expect CEOs to deliver better profit returns amidst persistent inflation challenges. This places considerable pressure on companies to optimize operations while maintaining profitability.

As we look ahead to 2024, it becomes evident that CEOs will increasingly focus on long-term strategies rather than reactive solutions. CIOs and technology leaders need to stay informed about industry trends and ensure their technology strategies align closely with the overall goals of their organizations. By being proactive and adaptable, technology leaders can effectively support their CEOs in driving growth and navigating the evolving business landscape.

For more information on what CEOs want in 2024, please visit FutureCIO.

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