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NACD Directors' Pulse Poll: Q2 2023
The “threat of economic recession” remains as the top trend most likely to affect companies in the coming 12 months according to NACD’s June 2023 Directors' Pulse Poll, while “advances in artificial intelligence” and “increased regulatory requirements” join the top five.
Key Takeaways
Advances in artificial intelligence (AI)/Increasing pace of technological change
“Advances in artificial intelligence” has rocketed to the fifth most widely selected trend, up from 12th in the Q1 poll. The propagation of applications utilizing generative AI models, which consume large amounts of data to generate “creative” outputs ranging from short stories to computer code, have variously (and often simultaneously) fascinated and unsettled directors. Across Q2, companies in the technology sector continued their efforts to profit from the AI boom. Large companies and small companies have raced to develop and release generative AI applications of their own, and the market cap of Nvidia, whose GPU chips power the development of such applications, surpassed one trillion dollars. Amid this rapid development, one respondent serving on the board of an AI services company noted that they “must stay nimble to remain competitive.”
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