EXECUTIVES around the world are more upbeat about the prospects for business than they were a year ago, according to the latest Economist/FT survey of around 1,500 senior managers, conducted by the Economist Intelligence Unit (updated August 21st 2014). The balance of respondents who think that global business conditions will soon improve has increased from two percentage points to 18, though this is down from the beginning of 2014. There is some cause for concern. Over 55% of those surveyed who work in the energy industry think that the turmoil in Iraq will lead to higher oil prices in the next 12 months. Almost two-thirds reckon the Federal Reserve will raise interest rates.
The Economist/FT global business barometer is a survey conducted four times a year by the Economist Intelligence Unit in order to gauge trends in business confidence. Based on the responses of more than 1,500 senior executives, it measures overall confidence by looking at the balance of those who think global business conditions will improve over the next six months against those who expect them to worsen. Our interactive barometer allows you to track business sentiment over time. You can look at the results by region or industry. The “in focus” section highlights responses to topical supplementary questions each quarter. Note: Percentages may not add to 100 due to rounding.
Knowledge workers, employees with technical expertise and high-level executives alike can benefit from training to grasp the nascent tech. Across industries, businesses are laying out plans to train employees to use generative AI and AI tools effectively.
There also needs to be an understanding of the toll that caring takes on the mental, and sometimes physical, health of the individual. The constant mental burden of ensuring that both children and the elderly are cared for needs to be recognised by managers, followed by an honest discussion with employees about how best to manage and support it.
Next year will see some kind of embarrassing calamity related to artificial intelligence and hiring. That’s according to Forrester’s predictions for 2024, which prophesied that the heavy use of AI by both candidates and recruiters will lead to at least one well-known company to hire a nonexistent candidate, and at least one business to hire a real candidate for a nonexistent job.