SINGAPORE: In a challenging landscape marked by evolving global dynamics, business leaders are grappling with a diminished sense of optimism about their organizations’ futures, according to a recent study conducted by the Capgemini Research Institute.
The report indicates a notable decline, with only five in 10 (55 per cent) business leaders expressing confidence in their organization’s future trajectory. This represents a sharp drop from the record-high of 65 per cent reported just last year.
One of the key factors contributing to this shift in sentiment is the increasing recognition of cybersecurity threats as a significant risk to business operations.
According to the data, 58 per cent of business leaders surveyed in 2024 acknowledge cybersecurity threats as a potential business risk in the next 12-18 months. This is a notable surge from the 37 per cent recorded in 2023, underlining the escalating concerns surrounding digital security.
The study also sheds light on another area of apprehension among business leaders, with 33 per cent expressing the belief that climate change is poised to cause most operational disruptions over the next decade.
This finding highlights the growing awareness within corporate circles about the profound impact of environmental challenges on business continuity and sustainability.
In a regional context, the study delves into the perspectives of Singaporean business leaders, revealing that seven in 10 agree that the European Union’s regulation and guidelines-led approach to generative artificial intelligence (AI) effectively reduces uncertainty and provides a certain level of stability.
The findings of the Capgemini Research Institute’s study highlight a complex and evolving set of challenges facing business leaders globally. The ability to proactively address these challenges will likely become a key differentiator for organizations striving to maintain resilience and thrive in the face of uncertainty.