World Economic Forum 2024: Change, innovation and adaptability

With the World Economic Forum underway, the past days we have seen many companies rushing out new research, feeling the pulse of business. Here are some things that caught my eye:

  • In business we hear it all the time, yes, the pace of change is faster than ever. Accenture’s Pulse of Change: 2024 Index found the rate of change to have risen steadily by 183% over the past four years (33% in the past year alone) and 88% of CEOs anticipate an even faster rate of change in 2024.
  • What’s driving change? Technology seems to be the top driver (it was still least mentioned only in 2022). We probably can credit that to the release of ChatGPT in 2023. However, 47% say they are not fully prepared for the accelerating rate of technological change.
  • Pair that with PWC’s Annual Survey, showing that 45% of global CEOs believe their companies will no longer be viable in ten years’ time if they continue their current path.
  • Speaking of technology: interestingly this year’s Edelman Trust Barometer shows that public trust in innovation is declining.

Here are some questions for you as a leader:

How can you as a leader become more transformative in your approach to make sure your organization continues to thrive?

What can you do to build trust in and foster innovation through involvement, removing concerns around poor management and job displacement?

How will you cultivate adaptability within yourselves and your team, encouraging a mindset that embraces change as an opportunity for growth rather than a threat?

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