Also: Nvidia's bumper quarter, a Nikkei record, underemployed college grads. 
Good morning.
Generative AI is crowding out other priorities on the executive agenda, according to a new poll out this morning from Weber Shandwick. (CEO Daily got a first look). The poll covers roughly 100 top executives of large global companies—including about 25 CEOs—and was conducted during the last week of January, so it captures current thinking. The findings:
—Generative AI was selected as a “top priority” by 51% of respondents, and 30% said it would have the “greatest impact” on their business.
—Inflation and interest rates came next, chosen a “top priority” by 49% and “greatest impact” by 26%.
—ESG fell back on the list, ranked as a “top priority” by 29% and having the “greatest impact” by only 7%.
—Navigating geopolitical conflict was chosen by 17% as a top priority, and 5% said it would have “greatest impact.”
The survey suggests there’s a big gap between executives’ recognition of the importance of generative AI and their confidence in their ability to take advantage of it. Here’s what Chris Deri, president of Weber Shandwick’s Corporate Advisory Businesses, had to say:
“The big takeaway on generative AI…is that 75% of executives do not feel personally equipped to lead their organizations through this. I think that means 2024 is going to be something of an observation year. The No. 1 action executives are looking for is an AI vendor. But they can’t farm out or delegate innovation. They really have to become technologists themselves and have the ethos of testing and learning and failing fast in order to understand.”
You can find the whole survey here. Meanwhile, the must-read of the day is Shawn Tully’s deep dive into what went wrong at Boeing. It’s a sad tale, spanning more than two decades and four CEOs, and it’s not over yet. You can read it this morning here.
Other news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
|
|
|
Nvidia’s bumper quarter
Nvidia shares are up over 9% in extended trading after the chipmaker smashed expectations with a 265% jump in revenue. CEO Jensen Huang even admitted that the company now has to “allocate [chips] fairly” amid giant demand for its AI processors. It’s not all good news, though: Nvidia noted that China now makes up a “mid-single-digit” percentage share of its data center revenue, down from as much as 25% in previous quarters, as Biden’s chip controls target the company’s processors. Fortune
Japan breaks a 35-year-old record
The Nikkei 225, which tracks the Tokyo Stock Exchange, closed at an all-time high of 39,098.68 on Thursday. The previous record stood since Dec. 29, 1989, at the peak of Japan’s bubble economy. Strong earnings and governance reforms are boosting Japan’s equity markets, even as the broader economy stumbles into a technical recession. Associated Press
Underemployed
Just over half of college graduates are in jobs that don’t make full use of their skills, according to a new study. Many of those who end up in non-college-level jobs were still underemployed a decade later. “We all need to be thinking of that first post-college job as a high-stakes milestone, and give it the attention it deserves,” says Stephen Moret, president of the Strada Education Foundation, which organized the study. The Wall Street Journal
|
|
|
2024: M&A Poised for Rebound In its 10th year, Deloitte's “2024 M&A Trends Survey: Mind the gap,” indicates dealmakers are optimistic about M&A activity for the year ahead, while being adept at strategic pivots, and making greater use of advanced technologies. Read more.
|
|
|
Subscribe to the Trust Factor newsletter |
Every week, learn how the most trusted companies and business leaders are strengthening relationships with stakeholders. From authenticity to transparency, explore the hallmarks of building trust with insights from executives and experts. Sign up now |
|
|
Thanks for reading. If you liked this email, pay it forward. Share it with someone you know. Did someone share this with you? Sign up here. For previous editions, click here.
To view all of Fortune's newsletters on the latest in business, go here.
|
|
|
|
 |
