How emerging technology is delivering value across the C-suite

Are you looking for growth? Then you may already be looking to EmTech: 53% of CEOs (compared to 44% of all executives surveyed) expect new revenue streams from EmTech in the coming 12 months. They’re less likely (38% versus 45%) to have already achieved this new revenue — but remain optimistic, with a quarter of respondents saying that they plan to increase tech budgets by 15% or more in the next 12 months. And on trust, CEOs know where the buck stops: 57% regularly engage with their boards around trust in EmTech. Nearly two-thirds say they’re ultimately accountable for their company’s AI governance. To stay close to these efforts, CEOs can align with their CISO or CIO on progress and help drive the importance of responsible AI practices across the organization.

As a CEO, to drive both growth and trust, take the lead on the four practices that correlate with EmTech success. You can, for example, use generative AI for reinvention, work to integrate all the Essential Eight and embed them in business strategy, and carefully focus investments.

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If you’re a finance leader, EmTech may already be helping you out: 52% of finance leaders (compared to 45% of executives surveyed) report having already achieved operational efficiencies due to EmTech.

But the Essential Eight can deliver far more than efficiency. As GenAI, for example, transforms knowledge work, it can also transform the finance function — driving faster, more data-driven decisions, potentially igniting a transformed tax function, and more. As a finance leader, you could focus on allocating the right resources, especially by preparing the workforce and by rigorously monitoring EmTech’s current and expected costs and ROI.

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If you’re a technology leader — a CIO, chief data officer, chief digital officer or IT director — you may already be getting help daily from EmTech. Tech leaders surveyed say EmTech is delivering increased employee productivity (56% versus 49% of all executives surveyed), enhanced cybersecurity and risk management (56% versus 50%) and increased operational efficiencies (51% versus 45%).

But EmTech is likely also growing your responsibilities, requiring you to help transform both your function and your organization. An AI factory, which brings together tech and business experience to rapidly scale GenAI, can help you help the rest of the C-suite think big about this key emerging technology. You can also take the lead on integrating the Essential Eight, managing the risks of GenAI and other EmTech, and work with your COO to help the business understand how EmTech can both transform operations and support new business models.

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Day after day, EmTech is helping information security leaders do their jobs. They’re more likely than other executives surveyed to say that EmTech has helped with cost savings) and transparency. They’re also more likely to report having implemented GenAI, which can help increase operational efficiencies (for 55%) and improve the quality of products or services (for 59%). And CISOs aren’t just about AI: 55% strongly agree that web3 is more of a strategic priority now than 12 months ago.

But if you’re a CISO, it’s not enough to just use EmTech. You also need to safeguard it — whether by building trust in web3 or managing GenAI risks. Only a secure environment can enable organizations to use GenAI for reinvention, integrate EmTech on a foundation of cloud security and embed EmTech into business strategy.

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COOs are seeing EmTech benefits where it counts: 54% (versus 44% of the overall sample) have already achieved faster time to market, 58% (versus 51% overall) have achieved better decision-making and 62% are enhancing sourcing and procurement to help increase stakeholder trust in EmTech. They’re more likely to call out concerns about measuring EmTech’s ROI (32% versus 23% overall) and its impact on the workforce (40 versus 34%.)

As COO, you may need to be active in all four practices that correlate with EmTech success. Your insights can, for example, help other leaders in your organization think big about GenAI and reconsider how work gets done. You can also help integrate the Essential Eight technologies in operations, embed them in business strategy, and carefully focus investments.

Other COO insights

If you’re a marketing, experience or communications leader, you may have big EmTech ambitions — and challenges. For each benefit studied in PwC’s 2023 Emerging Technology Survey, fewer than half of the marketing leaders responding told us EmTech already delivers measurable value. But, looking to the next 12 months, they’re more likely than the overall sample to expect EmTech to deliver measurable value for customer experiences (59% versus 44%) stakeholder trust (55% versus 45%) and decision-making (64% versus 43%).

Many marketers, having recently implemented marketing technology, may find it challenging to request resources for another tech upgrade. But some of the Essential Eight are becoming fundamental for marketing, growing capacity and managing costs. GenAI can, for example, enable enhanced customization, granular data analysis, automated documentation and other functions. Your CFO is also thinking about the right tech investments, so try tackling this together to help drive the organization forward. As the chief steward of your company’s brand, you may also need to help confirm that EmTech investments are customer-centric and grow stakeholder trust.

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