Irish CEOs more upbeat about economy – survey
Irish CEOs are more upbeat about the growth potential of the Irish economy this year, but they continue to be concerned about risks to their businesses.
The PwC 2024 Irish CEO Survey found that half of company bosses were optimistic about Irish growth in the coming months, compared to just a third last year.
However there was an increase in the number of CEOs that felt the future of their businesses was under threat unless they made significant change.
According to the survey, 28% of Irish CEOs did not think their business would be viable in a decade without reinvention – compared to 21% last year.
Almost two thirds expected generative artificial intelligence to “significantly change” the way their company creates value in the next three years.
However there is also significant concern about the risks of AI – with 62% expecting it to lead to an increase in misinformation, and 76% predicting it will create more cybersecurity risks.
Cyber threats in general are one of the top concerns cited by Irish CEOs, with 90% seeing it as a risk to business.
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However inflation is the biggest concern, with 95% concerned about their exposure to rising prices, while 94% are also worried about macroeconomic volatility.
Meanwhile 81% feel their company is exposed to geopolitical conflict – though this is down on the 93% reading from 2023.
The survey was conducted in late 2023 with the results based on responses from 121 Irish CEOs. It is part of a global survey of 2,702 CEOs carried out across 105 countries.