A survey of chief financial officers conducted by various institutions, including Duke University and the Atlanta Fed, reveals that companies are increasingly turning to automation to cut costs and improve quality control. The adoption of automation is driven by the desire to save on wage costs, with a majority of companies maintaining or slowing down hiring as a result. The survey also indicates a surge in revenue growth expectations and a rise in prices, while employment growth is expected to ease in the coming year.
Over the last few months, business sentiment towards revenue growth expectations has picked up and sales growth uncertainty has ticked down. From the Atlanta Fed's Business Uncertainty Index: https://t.co/If0iJQB656
1Q2024 CFO survey from @DukeU, @RichmondFed, and @AtlantaFed shows significant improvement in expectations for revenue growth in coming year … prices are also expected to rise at a quicker pace while employment growth is expected to ease https://t.co/yhP7nArWl7
1Q2024 CFO survey from @DukeU, @RichmondFed, and @AtlantaFed shows that monetary policy and labor quality/availability still dominate as top concerns … labor cost is at bottom of list https://t.co/rbMSs2S9zU
Latest update for CFO Optimism from @DukeU, @RichmondFed, and @AtlantaFed shows continued, strong rebound in CFOs’ optimism about U.S. economy … well off lows seen a couple years ago https://t.co/2JOk09wfCl
Today's CFO survey from the Richmond Fed & Duke University showed most companies have adopted automation for cost savings or for quality control. Nearly 60% have maintained hiring and another 28.7% have slowed hiring. Read more in tonight's Closer: https://t.co/6xc8I3XoCG https://t.co/JR4Mi40Ctz
Two great results from the most recent Atlanta Fed's Survey of Business Uncertainty 1) Revenue uncertainty is now at the lowest level since the start of the pandemic 2) Employment growth expectations are now at the highest level since May 2022 https://t.co/7AYYA3xIVE
Wage-cost savings cited as main reason companies automate in CFO survey https://t.co/pT7GeyB7aG
Companies are adopting automation to replace labor as they seek to reduce costs, a survey of chief financial officers shows https://t.co/UVy8ThuXkD
Companies are adopting automation to replace labor as they seek to reduce costs, a survey of chief financial officers showed. https://t.co/WMQGZG1a24