2023-08-17 20:14:03
São Paulo, August 16, 2023 – A new global study from the IBM Institute for Business Value,’CEO decision making in the age of AI, Act with intention‘, points out that Brazilian CEOs face challenges related to the management of their companies’ data, including unclear calculations (44%) and the difficulty of identifying significant insights from this data (41%) – both results above the global average. In addition, 71% of respondents in the country believe that eliminating the distance between data and decision makers is more important than changing where decisions take place.
Among the crucial actions to improve the way an organization’s performance is measured, Brazilian CEOs once once more placed the importance of data at the top of the list: standardizing data collection and reporting processes (44%), promoting a data-driven culture data driven (40%) and generating improvements in data platforms (39%) were the top three choices of national executives – and with percentages above the global averages recorded by the survey.
The study also shows that, even with the difficulties of dealing with the data generated in the companies, 76% of the CEOs who work in the country rely on internal operational data as the main source for making strategic decisions. “Today, thinking regarding a journey of generative AI for business, it is worth saying that it is already possible to connect to data in minutes, obtain reliable insights quickly and still reduce storage costs. Therefore, we are seeing this ability to manage and extract meaningful insights from data become much more efficient”, explains Marco Kalil, leader of IBM Consulting in Brazil.
AI as a driver for decision-making
At the same time that there is a clear technological evolution in the way of dealing with data, the CEOs interviewed in Brazil consider cloud computing (60%) and the boom of Artificial Intelligence within companies, including generative AI (56% ), the two fundamental pillars for achieving results in the next three years. In addition, 65% of executives in the country say they have a clear plan regarding the role that advanced AI will play in corporate decision-making in five years.
“Business leaders around the world are riding the wave of generative AI, and Latin America is no exception. That’s why technology modernization remains a top priority for CEOs in the region, as half of them are betting on AI as a key enabler to deliver results,” says Kalil. “However, organizations still face significant obstacles when it comes to implementing AI, and we are seeing CEOs increasingly rely on their technology leaders as strategic decision makers”, adds the leader of IBM Consulting in Brazil.
Other study highlights
The new IBM study also points out which executives are helping Brazilian CEOs in decision-making and the challenges they expect for their organizations in the coming years:
More than half of Brazilian CEOs (53%) identify technology modernization as their top business priority, followed by cybersecurity and data privacy (49%) and productivity (44%); When asked which C-level executives will make the most crucial decisions over the next three years, Brazilian CEOs put COOs (63%) and CFOs (49%) at the top of the list; Environmental sustainability (43%), cybersecurity and data privacy (33%) and technological modernization (28%) are identified as the biggest challenges for Brazilian companies in the next three years. Technology leaders’ influence on decision-making is growing: 34% of Brazilian CEOs point to CIOs (up from 19% a year ago) and 27% point to chief technology officers or chief digital officers as those making the most important decisions in their organizations.
To view the full study, click here.
*Study methodology
The IBM Institute for Business Value, in collaboration with Oxford Economics, interviewed 3,000 CEOs from more than 30 countries and 24 industries as part of the 28th edition of the IBM C-Suite Study series. These conversations focused on executives’ perspectives on leadership and business; changing their roles and responsibilities; and CEO decision-making today, including key challenges and opportunities, their use of technology, data and metrics, and their visions for the future. The IBM Institute for Business Value also surveyed 200 US CEOs regarding their responses to generative AI.
The IBM Institute for Business Value, IBM’s Thought Leadership think tank, combines global research and performance data with the experience of leading academics and industry thinkers to deliver insights that empower business leaders. To access world-class Thought Leadership, go to here .
About to IBM
IBM is a leading global provider of hybrid cloud, AI and business services, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain competitive advantage in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare depend on IBM’s hybrid cloud platform and Red Hat OpenShift to influence their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, cloud solutions and industry-specific business services provide open and flexible options for our customers. It’s all backed by IBM’s commitment to trust, transparency, accountability, inclusion and service.
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