Korn Ferry Global Study: Majority of CEOs See More Value in Technology Than Their Workforce
--Two-Thirds of CEOs Believe Technology Will Be Their Firm’s Greatest Competitive Advantage
--Nearly Half Say Robotics, Automation and AI Will Make People ‘Largely Irrelevant’
- Sixty-three percent say that in 5 years, technology will be the firm’s greatest source of competitive advantage.
- Sixty-seven percent say that technology will create greater value in the future than people will.
- Forty-four percent say the prevalence of robotics, automation and artificial intelligence (AI) will make people “largely irrelevant” in the future of work.
Further indicating that the leaders are not putting the appropriate focus on people, the study found that when asked to rank what their organization’s top five assets will be 5 years from now, the company’s workforce did not make the list. The top five assets named by the CEOs (in order) are: Technology (product, customer channels); R&D / Innovation; Product / Service; Brand; and Real Estate (offices, factories, land).
Leaders who took part in the study say that tech is becoming so central to their thinking and execution that it occupies 40 percent to 60 percent of their priorities on strategic focus, financial investment and C-suite time. The research also finds a possible source of CEOs’ tech obsession: 40 percent of respondents say they have experienced shareholder pressure to direct investment toward tangible assets like technology.
“Leaders may be facing what experts call a tangibility bias,”
said Jean-Marc Laouchez, Global Managing Director, Solutions,
“While the critical role and pervasive nature of technology in
tomorrow’s workforce is clear, no one is saying people are going away
Editor’s note: This news release is part one of a two-part series
based on this
report. In December, we will share details of an economic analysis
In August and September, 2016,
Tracy Kurschner, 612-309-3957