Technology

Technology

Harnessing innovation and disruption are critical

Harnessing innovation and disruption are critical

U.S. tech companies focused on digitization of their business and growing both digital labor and their human workforce

KPMG’s U.S. Technology Industry CEO Outlook publication reveals insight from 138 CEOs in the United States from internet, hardware, software, cloud and IT services companies. The report identifies key trends surrounding strategic priorities, innovation management, digital labor, risk concerns, partnerships, and future revenue growth. Key findings include:

  • CEOs identify the digitization of their business, stronger client focus, implementing disruptive technology, minimizing cybersecurity risk, and talent development as their top strategic priorities.
  • Seventy percent of the respondents describe their approach to innovation as strategic or accelerated, and eighty percent say they use disruptive technologies to improve products and services.
  • Tech CEOs plan to increase both digital and human labor investments as their co-existence can enhance human skills and expertise. About three-fourths of respondents believe automation and machine learning are likely to replace at least 5 percent of their sales, marketing, technology, and manufacturing workforce over the next three years. At the same time, more than half (fifty-five percent) expect their company’s headcount to grow at least 6 percent.
  • Recognizing the importance of information security in protecting their companies and maintaining customer trust, about 4 out of 10 tech CEOs identify cybersecurity as their top risk, followed by regulatory, and brand/reputational risk.
  • Nearly 8 out of 10 tech CEOs see collaboration, joint ventures and partnering as a leading approach to driving shareholder value for the next three years.
  • Almost sixty percent of CEOs expect 2 to 5 percent annual revenue growth for their organizations over the next three years, while seventeen percent expect growth between 5 and 10 percent.

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