Viva Technology (VivaTech), Wavestone, and OpinionWay surveyed 1,000 business leaders in France, Germany, the United Kingdom, and the United States. The three companies first gathered business leaders' perceptions of new technologies and their role in driving competitiveness from last November to this January. They published their findings in the inaugural edition of the Barometer of Executive Trust in Tech this February.
While slightly less optimistic than their American counterparts, European business leaders believe in their sectors' future growth due to technological advances. AI is the survey's standout technology, identified by 63% of executives as most likely to impact the future of business.
An overwhelming majority (96%) of executives view integrating new technologies as fundamental for ensuring their company's competitiveness. Notably, 88% of respondents plan to invest in AI by 2024. Cloud computing (49%) and cybersecurity (40%) also attract significant attention.
France is a notable exception, prioritizing cybersecurity (60%) over AI (57%), possibly influenced by high cyber attack rates. Big data takes third place on the podium with 31%, and Cloud Computing is only fourth (30%).
More generally, 85% of companies plan to increase their investment in new technologies over the next 12 months. Despite challenges, 82% of respondents believe domestic companies are internationally competitive in technology.
However, business leaders identify obstacles to technological development, particularly in human resources. Investment in skilled talent and research and development are seen as essential. Additionally, 63% of executives feel governments are taking the right steps to stimulate national technology ecosystems, particularly in the UK (71%).
Business leaders see technology as crucial in addressing major human challenges, including simplifying access to information, combatting disinformation, supporting education, and addressing pandemics and climate change. However, they also acknowledge associated risks, such as the rise of disinformation and privacy threats.
Environmental concerns associated with technological progress are prominent in France, with three-quarters of executives worrying. Despite this, they demonstrate confidence in navigating uncertainty and understanding technology and cybersecurity issues.
The barometer, conducted between November 2023 and January 2024, involved over 1,000 managers of private companies and included both quantitative and qualitative phases to provide a comprehensive view of business leaders' perspectives.