Tech executives prioritise AI, face privacy & eco concerns

The second annual VivaTech Confidence Barometer has revealed perceptions and priorities among tech executives concerning industry competitiveness and the adoption of emerging technologies.

The survey indicates a strong preference for Artificial Intelligence (AI) investment, with 85% of companies planning to enhance their spend in this area over the next year. AI is noted as the technology most anticipated to influence business operations significantly, outpacing other innovations such as cybersecurity and cloud computing.

A divergence in confidence levels across countries has been highlighted by the report. In particular, the United States leads with 92% of its CEOs viewing the country as a frontrunner in international tech competitiveness. The United Kingdom follows, with 81% of its executives expressing similar confidence in their national sector's global standing, while Italy reports the lowest with just 64%.

David Clare, Director of Fire on the Hill, notes the importance of technology in resolving fundamental societal issues, with nearly half of business leaders (45%) highlighting technology's potential in improving educational access and combating misinformation.

The survey uncovers overarching concerns regarding the environmental implications of technology, with 70% of executives acknowledging this as a challenge. American and European business leaders differ in their levels of concern, with the issue expressed more intensely in the USA than in previous years.

Privacy and misinformation remain significant concerns among global executives. A majority (77%) express worries regarding privacy invasion and the proliferation of fake news. The USA and Spain record the highest levels of concerns about privacy issues, while Germany and Italy display a more relaxed stance.

The impact of technology on employment and international competitiveness is also acknowledged. 81% of executives believe technology enhances their company's competitiveness internationally, with skilled employees and continuous R&D investment cited as primary drivers of such competitiveness.

The report reiterates that the technology sector is viewed as central to diversity and inclusion advancement, with 81% of CEOs advocating this belief.

For European tech sectors, such as France, progress is noted albeit at a slower pace compared to the USA and UK. The French tech industry's optimism has increased considerably from the previous year's barometer, positioning itself closer to international averages.

Respondents place emphasis on international collaboration's growing significance, particularly in the USA and France, to bolster national tech competitiveness.

The VivaTech Confidence Barometer provides key insights into current trends and perceptions in the tech industry, as senior executives prepare to navigate both the opportunities and challenges presented by emerging technological advancements globally.