5 challenges that CEOs will face in 2024

2023-12-29 17:12:36

With the arrival of the end of 2023, it is necessary to align the main strategies that will be taken during 2024. To do this, it is important to be aware of the main business challenges to ensure success throughout the period. According to a survey carried out by international management consultancy KPMG, inflation and record interest rates that increase costs for companies and consumers, and the battle between remote and in-person work, were major concerns this year, as a result of post-pandemic,

Starting the year off on the right foot and knowing the main barriers that lie ahead is an excellent opportunity to prepare your business

For 2024, technology, while being a great ally, can also be a problem. This is because innovative artificial intelligence resources have had a major impact on business. According to data from CEO Outlook 2023, 72% consider investment in artificial intelligence (AI) to be a priority. Despite this, 81% fear ethical problems and the lack of regulation regarding the use of technology.

To prepare for the next twelve months, 5 CEOs of large companies highlighted the main challenges and how they can be faced successfully:

Sustainable growth is one of the challenges

“Achieving sustainable growth for 2024 is a challenge, PinePR, for example, is constantly expanding and we noticed that in recent years following the startup winter, in July 2022, there has obviously been a decrease in applications in this market. Economists already say that investments will be better in the technology market in 2024 than they were in 2023, but it still needs to be observed and analyzed. Therefore, as CEO, I say that the main challenge is to have this look at the economy, to understand what will happen in business and especially in the communication sector, so that we have positive growth”, he explains. Fabiana RamosCEO yes PinePR specialized in serving scale-ups, innovative companies and technology players.

Reheating of the Economy an unlikely bet in the case of Brazil.

“With the drop in interest rates and greater internal political stability, combined with external factors, our perception is that there is a gradual recovery of the economy. This generates a greater prospect of growth. On the other hand, there are some very direct risks of an increase in the tax burden, such as the possibility of the end of the payroll tax exemption, which creates uncertainty regarding our budget for next year and, consequently, our ability to invest and hire” , says Igor Vazzoler is CEO and founder of Progic, leading company in Corporate TV in Brazil. Using its own technology, the only all-Brazilian technology on the market, the company enhances communication with employees through screens located in strategic locations throughout the company.

Becoming agile to meet consumer needs is one of the most important challenges

“I believe that in 2024 the market will begin to adapt to the agility of consumer needs and the phenomenon of niches, which only tends to grow. Many processes and bureaucracy lose ground when people’s attention is short-lived and consumer desires are directed by a few characters and one-minute videos. While brands must increasingly know how to speak to different types of people who connect through different points of contact, they must also know how to use artificial intelligence, which has been reducing costs and accelerating response times – and it is undeniable that it will be one of the biggest results optimization tools”, says Beto Estrada, co-CEO of BKR, agency that integrates cultural production into its business model to help brands occupy territories through entertainment.

Integration between Payment Methods and New Technologies

“The integration between technology and financial services should not be seen just as an innovative challenge in payment methods. It also represents a trend in building solutions that add value, taking into account the creation of an improved experience for the user, in which data and artificial intelligence are leveraged to develop journeys and products more adapted to the specific needs of SMEs. These will be crucial pillars to overcome challenges in offering products to these small and medium-sized entrepreneurs in emerging countries”, says Gonzalo Parejo, CEO of Chimney, complete business expense management platform for small and medium-sized companies in Brazil.

For him, the challenges facing 2024 are centered on the ecosystem resulting from the integration and synergy between software, payment methods and financial services. The Kamino platform, which has already handled more than R＄4 billion, will face the challenge of helping executives and financial leaders of SMEs across Brazil to increasingly focus on strategies aimed at business success. Furthermore, the fintech projects to surpass the R＄1 billion mark in the value of payments transacted in the next 12 months, facing the challenges of the constantly evolving business scenario.

Artificial Intelligence versus Human Relations is one of the challenges

“The biggest challenge that the market will face, especially the fintech sector, will be the use of artificial intelligence, both in the current market dynamics and for the development of disruptive solutions. The intensive use of data can be a decisive factor in changing the game in several industries, as well as the way the segment sees opportunities and challenges.

Struggling and declining retail presents several challenges

It is necessary to pay attention considering that in the same way that technology helps us think and structure new possibilities, it also tends to create a distance between people, damaging physical and face-to-face contact, also affecting all the valuable exchange that might be provided for companies”, concludes Francisco Pereira, and Trademasterfintech that boosts sales in distribution chains and drives sustainable retail growth.

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