Good morning. Andrew Nusca here, taking a break from my usual duties helming the Fortune Tech newsletter to make a cameo. I had the pleasure of hosting more than a dozen executives yesterday in a Fortune CEO roundtable discussion about how their strategies are shifting amid economic uncertainty and global complexity.
We kicked things off with former Atlanta Fed president Dennis Lockhart, who outlined the state of the economy and memorably said that it wasn’t “frog choking” conditions he was most worried about, but “frog boiling”—in his words, “the creeping, long-term changes where you can’t point to a particular event, necessarily, but over time you wake up and find you’re in a different world.”
So how did the CEOs say they’re managing change?
For one software firm, it’s a “go all in” on AI with the ability to “answer the ROI question in about 24 months.” For another, it’s “hold on to your best developers” and “train up” everyone to leverage new tech. For an auto supplier, it’s diversifying your supply chain to deal with evolving relationships on the global stage; for a robotics company, it’s “robots building robots” in the U.S. where tariffs won’t wreck the balance sheet. And, of course, it’s seizing fresh opportunities amid the tumult.
Broadly, CEOs are feeling more upbeat about the global economy than they were earlier this year. In an October survey of chief executives conducted by Fortune and Deloitte, out yesterday, 32% of respondents described themselves as pessimistic about the economy over the next year, down from 58% in April. One reason for the shift in sentiment is the fact that tariffs have not disrupted global trade as feared.
CEOs have shifted their focus to a different kind of disruption—that driven by AI. Sixty percent of chief execs say AI will have either a significant (45%) or transformational (15%) impact on their core processes over the next one to three years.
Drawing from the survey, Deloitte U.S. CEO Jason Girzadas highlighted the importance of a “growth mindset” and “emotional intelligence” as top skills to ride the wave.
Many thanks to sponsor Deloitte (which also sponsors this newsletter) for helping to make the conversation happen.
More news below. Contact CEO Daily via Diane Brady at [email protected]
This story was originally featured on Fortune.com
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