Decision paralysis affecting UK CEOs

Two-thirds of CEOs and other C-suite executives in the UK have experienced decision paralysis as a result of cognitive overload or fatigue, with roughly the same number considering decision-making to be more complicated than ever before.

These are the findings of a study conducted by artificial intelligence company, Peak, which highlights the value of quality of decision-making as companies are looking to recover from the economic fall-out of the pandemic, and growing consumer demands.

Peak’s inaugural Decision Intelligence Report compiles the views of 500 C-suite participants across the UK, in companies ranging from SMEs to those turning over more than £25m a year.

When asked to identify some of the root causes of decision paralysis in their businesses, 60% of the participants pointed to outdated processes and operations that needed to be unlearned or overhauled. Some 67% of UK business leaders are starting to adapt to the ever-changing world of work and admit to having evolved their decision making process in the last five years; 73% believe AI will be part of the most important innovations in the next 50 years.

Peak CEO, Richard Potter says that despite businesses having more data at their disposal than ever before, it's clear that decision making is harder than ever.

“The last year has been an immensely tough time for business and making the right call at the right time has never been more important. Luckily, we're now in a technological era where AI can help make decisions alongside us.

“We believe that AI can fundamentally change how we make decisions and is uniquely placed to help us make the most of the vast and complex data at our disposal, and make decision paralysis a relic of the past.”

    Share Story:

Recent Stories

Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks. Published June 2021

Manufacturing: An industry at risk amid great technological change
Of the many sectors of business, manufacturing companies are among the most at risk from cyber threats. How has the sector evolved to make it so vulnerable and what does the task of managing cyber exposure in a manufacturing company look like? CIR’s latest podcast with Tokio Marine HCC sought to answer all these questions and more. Published April 2021