The analysis, part of the comprehensive HLB Global Survey of Business Leaders 2024, finds that an impressive 92% of Irish business leaders express confidence in their growth prospects over the next 12 months, significantly outpacing the global average of 85%. This optimism is largely fuelled by strategic technological advancements and a strong emphasis on digital transformation, positioning Ireland as a front-runner in global business innovation.
Mark Butler, Managing Partner at HLB Ireland, highlights the significance of these findings "The optimism among Irish business leaders is very encouraging. Our research shows a clear commitment to innovation and digital security, with Irish CEOs demonstrating a proactive approach to navigating the complexities of the future business environment. With 77% of Irish leaders expecting global growth to be maintained or to increase this year despite 84% citing inflation as the biggest risk to their business."
The survey reveals that cybersecurity is a top concern for 74% of Irish business leaders, reflecting a global recognition of digital security challenges. This concern is matched by a significant majority prioritising investments in robust cybersecurity measures, aligning with global trends towards safeguarding digital assets.
"As cyber threats escalate, it's imperative for business leaders to view cybersecurity as an ongoing battle. Ireland's steadfast focus on cybersecurity underscores the strategic foresight of its business leaders. Safeguarding digital infrastructure is no longer just a priority; it's a continuous mission. This resonates strongly with our experience working with clients, as we advise on the pressing need for effective cybersecurity solutions. Cybersecurity is not just an IT issue; but a business imperative." continued Mark.
Talent management also emerges as a critical area, with 63% of Irish leaders expressing concerns about access to skilled talent. This reflects a more comprehensive global challenge and indicates Irish companies' proactive measures to build resilient and adaptable workforces.
Building efficiencies remains a priority across the globe with 71% of Irish leaders planning to adopt new practices to improve their operational efficiency this year.
The adoption of Artificial Intelligence (AI) stands out, with 65% of Irish business leaders identifying AI as crucial for their business in the next five years. This is compared to the 60% of business leaders who more broadly prioritise adopting new technology to support growth.
Mark further emphasises the strategic importance of AI, stating, "AI represents a pivotal frontier for business innovation. Irish companies are not just open to adopting new technologies but actively prioritising AI to drive future growth and operational excellence. This forward-thinking approach sets Ireland apart as a leader in global business innovation." he concludes.
For deeper insights into how Irish businesses stand on the global stage, explore HLB Global Survey of Business Leaders 2024 at [HLB Global]
HLB Ireland are hosting an event on the 11th of April discussing the HLB Survey of Business Leaders 2024 results in detail with a panel of business speakers. To register for this event, please see www.hlb.ie
About HLB Ireland:
HLB Ireland is an independent accounting and advisory firm and a member of HLB International, the eighth largest global accounting network.
