Conference Presentation, Panel, Fireside Chat
View From the Top: Navigating a World in Transition
Milken InstituteRobert Smith, Claire Hughes Johnson, David M. Solomon, John Thompson, Mark Weinberger, Devin Wenig, Ronnie Weisbrod
- More than two-thirds of U.S. CEOs surveyed by the Business Roundtable are expected to increase capital spending over the next six months.
- The average lifespan of an S&P 500 company is projected to decline to 12 years over the next 10 years, reflecting increased business dynamism.
- CEO optimism is anticipated to decrease within the three-to-five-year window compared to the next year, with strategic planning becoming increasingly uncertain beyond the 12-month horizon.
- Over the next 10 years, more than half of the Fortune 500 and the world's largest companies are expected to originate from emerging markets, driven by the demographic fact that 90% of the global population under age 30 currently resides in these regions.
- Artificial Intelligence is forecast to become the most significant computing factor across every industry in the economy over the next 10 years.
- A significant gap exists between current education pipelines and the technological requirements for jobs that will emerge in 20 to 25 years, with concerns that the country is failing to prepare the necessary talent.
- The global coding talent pool is constrained, with only approximately 19 million people capable of writing code out of a global population of 7.6 to 7.7 billion.
- Companies in financial services, consulting, or internet sectors that lag in adopting AI or machine learning strategies are expected to face significant trouble.
- Full adoption of blockchain technology is projected to be several years away, though the technology is expected to be transformational.
- Failure to proactively address data usage and trust issues is expected to force companies into regulatory environments rather than allowing for self-regulation or negotiation.
- A digital Geneva Convention is anticipated to become necessary over time to address nation-state attacks on individuals and to define industry interoperation standards.
- Resistance to regulatory engagement by businesses is expected to worsen the regulatory environment, while barriers created by complex regulatory schemes may stifle innovation.
- Technical talent remains geographically isolated in specific hubs like Seattle and the Bay Area, limiting the availability of a global skilled workforce.
- Blockchain adoption is expected to be transformational despite full implementation taking years, and businesses are urged to mirror their client base diversity with diverse talent over the next decade.