We keep our ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.
1. Untapped potential
Women-owned enterprises are proving to be powerhouses of sustainability and social impact, outperforming male-led firms in longevity and ROI. Despite funding barriers, these businesses are not only thriving but are deeply committed to enriching lives through their offerings. The secret sauce? A blend of profit and purpose, with an emphasis on diversity and community upliftment. Yet, the full force of their impact is often untapped, as they face an uphill battle in securing funding. With 61% of women entrepreneurs relying on personal credit cards for business expenses, it’s clear that the traditional metrics of performance are due for an overhaul. There’s a silver lining though: impact-driven stories are more appealing to funders. And women entrepreneurs are champions of diversity, inclusive hiring, and sourcing from diverse suppliers. By leveraging virtual services, they’re expanding their reach and minimizing environmental footprints. As the market wakes up to the value of sustainability, women-led businesses stand at the cusp of opportunity, ready to formalize their initiatives and secure a competitive edge. It’s clear: when women move forward, the business world leaps ahead.
Study on the societal value of women-led businesses
2. It takes two to tango
In the rapidly evolving tech landscape, the emergence of generative AI is fundamentally transforming the role of the CIO. No longer confined to overseeing IT infrastructure, CIOs are now pivotal in driving innovation and strategic growth within their organizations. With a significant uptick in GenAI investment, CIOs are leveraging these powerful tools to enhance productivity and creativity across various departments. The dynamic between CIOs and CEOs is evolving, with technology investments becoming a core component of the executive agenda. The recent EY CEO Outlook Pulse survey indicates that nearly half of CEOs prioritize tech to fuel growth, with a focus on acquisitions to secure innovative capabilities. However, the rise of GenAI also brings new ethical considerations. CIOs are tasked with championing responsible AI practices, ensuring fairness and transparency while managing the sensitive data needed to train AI models. Collaboration is key, and CIOs are increasingly working alongside other C-suite executives to integrate AI into various business functions.
Reshaping the CIO’s Playbook for the AI Age
3. Agents of change
In a volatile economy, COOs are cautiously yet proactively weighing AI’s promise against the backdrop of the US election. EY-Parthenon’s Lydia Boussour sees a bright future, eyeing strong growth by 2025 despite the trade and tax bumps in the road. Leaders are adjusting, focusing on strategic investments and upgrading tech with care. They’re into the rise of agenic AI (also known as AI agents) – smart systems that don’t just do the job but also think of ways to do it better. However, with some digital overhauls falling short, there’s a push to strengthen core systems and enforce a strict innovation protocol. With AI reshaping how we plan and work, COOs are gearing up to use it to boost operations and revamp the workforce. Aiming for sustained growth, they’re crafting a future where technology and strategic planning merge to give them the upper hand…
COOs have a cautious mindset as they plan ahead
4. AI regulations down under
With great AI use, must come AI regulation. Australia is at a crossroads with just that. Although there’s no comprehensive law yet, the government is keen to make rules that not only ensure rigorous testing but also hold businesses accountable. As the rest of the world has laid ground rules, Australia’s picking and choosing from what other countries are doing. There are already some laws that sort of cover AI risks, but it’s a bit of a jigsaw puzzle, and companies can get tripped up trying to figure it all out. There’s a real need for clearer rules so businesses can dive into AI without worrying about getting it wrong. And then there’s the money side of things. Australia’s investment in AI, at approximately $500 million, pales in comparison to the United States’ massive $67 billion investment, putting Australia at risk of falling behind in the global AI race. There are a bunch of hurdles, like not having specific AI laws yet, lack of investment, and making sure our regulators are AI-savvy. It’s all about finding that sweet spot between encouraging new tech and protecting people’s interests…
Q&A: AI regulation in Australia
5. Letting go to grow
Is your business ready for the future? With the main reason for buying companies being to snag new tech, it raises a big question: How can leaders make smart investments when borrowing costs are high, competition is tight, and investors are watching expenses like hawks? Many CEOs are taking a good, hard look at their business mix, looking for ways to streamline and get rid of parts that aren’t central to their main game. The aim is usually to bump up profit margins and get some cash to put back into the core business and fund tech that could really change the game. It’s tough for business leaders to step back from the daily grind, especially when things are so uncertain and tense. But realizing how much has changed in the past five years, with rapid tech advances and a reshaping of the geopolitical landscape, is a crucial first step—especially since this pace of change isn’t slowing down…