- January 18, 2023
- Posted by: Waldon Fenster
- Categories: Executives, Trend
What Executives Are Talking About in Q4/2022
As the end of 2022 approaches, executives are discussing a variety of topics. According to the latest data from Philipp Wegner, there were no global breakout topics during this quarter, but three themes noticeably gained traction: interest rates, the labor market, and reshoring. Additionally, executives discussed the use of data science and AI to better understand their customers and decrease costs.
Interest rates have been steadily increasing over the last quarter (+24% growth over Q3). This can be attributed to increased economic activity as companies begin to rebound from the pandemic. As a result, many executives are discussing how they can take advantage of these low-interest rates in order to finance their operations. Some companies have even begun refinancing debt in order to reduce their monthly payments and improve cash flow.
The labor market has also seen a significant increase in growth (+35% growth over Q3). With more people returning to work or looking for new jobs, many executives are discussing ways to recruit and retain talent. Companies are investing heavily in hiring programs that focus on developing skillsets that are highly sought after in today’s job market. They are also exploring ways to create remote working opportunities that allow employees flexibility while still allowing them access to resources needed for successful job performance.
The trend of reshoring is growing at an incredible rate (+122% growth over Q3). Companies are now seeing an opportunity for cost savings by bringing manufacturing processes back into their own countries as opposed to outsourcing them abroad. This is forcing executives to consider how they can utilize their domestic resources efficiently while still utilizing global networks for research and development purposes. Similarly, businesses must consider all potential benefits such as tax incentives when making decisions about reshoring operations back home.
Data Science & AI
Finally, there was an 80% increase over Q3 in companies discussing the use of data science and AI technologies as a way of better understanding their customers and decreasing costs associated with production processes. Data science provides insight into customer behavior which can be used by executives to develop strategies aimed at creating more personal customer experiences and increasing customer loyalty. AI technologies can be used for autonomous manufacturing processes which could potentially lead to increased efficiency and lower costs associated with production processes.
It’s clear that executives around the world have been focusing on different topics during this past quarter than previous ones due largely due to changes brought on by COVID-19 pandemic. Interest rates, labor markets, reshoring, data sciences & AI have all become popular topics among decision-makers as they look for ways to remain competitive in uncertain times through cost savings initiatives or leveraging technology advancements for business gains . By staying informed on these key areas of discussion it’s easier for businesses leaders today stay ahead of the curve when it comes making decisions about their operations going forward into 2021 and beyond .