This was followed by “political shifts”, cited by 26 per cent, and “losing talent/labour shortage” (25 per cent). When asked to comment on the challenges ahead one reader noted: “Talent comes and goes very quickly these days.” Another commented: “Talent is in short supply and burnout is frequent.” A third was concerned the problem was systemic: “Demography in western Europe seems to be an important challenge with a lack of qualified talent and decreasing higher education participants.”

Only 16 per cent of FT readers named IT security issues as one of their top three challenges over the next five years, but for this group, the threat was serious. “Cyber is the greatest risk,” said one reader. “We have already been penetrated by Russian hackers,” said a second. And a third recognised that the issue was existential: “Cyber attacks against systems have become increasingly common in recent years. If we were to experience one of these events, it could lead to irreversible damage to the business.” With cyber crime forecast to cost $9.5trn in 2024, their concerns are understandable.

As one reader had it, their organisation needs to “build a culture that encourages AI in the way we think and build software”. Another reader was clear that they needed to be “developing AI products that solve known organisational and sectoral challenges”. All of which suggests that FT readers largely agree with John Thornhill on the urgent need to absorb the benefits of the technology.

Interestingly, some readers saw opportunities in our era’s increasingly remote workplaces, with one reader sensing an opportunity in their organisation’s “gradual transition to digitisation and remote processes”. Others were more optimistic about the potential benefits of traditional in-person communication with one keen to increase “face-to-face contact with clients and potential clients” and keen to attend “conferences, seminars, lectures and other functions to make new contacts and professional relationships”. Evidence, perhaps, that the debate on the merits of remote and in-person work will continue for some time to come.

In the USA & Americas, confidence that economic conditions would improve locally was down from 54 per cent to 45 per cent over the quarter (but only 20 per cent thought things would get worse), perhaps a reflection that while the US economy may be slowing there is reason to hope that the landing will be soft.

All of which is in stark contrast to the mood in APAC where only 36 per cent of readers think the economy will improve over the next six months, down from 54 per cent in Q4 23. Might China’s ongoing battle with deflation be at the root of the pessimism?

In the US & the Americas, there was a significant mood shift among those working in the retail and leisure, where only 25 per cent of readers who work in the region’s sector thinking things will improve (down from 56 per cent in Q1 24), with sluggish US consumer spending likely a factor.

By some distance the most pessimistic of the sectors was education, with 39 per cent of readers who work in the sector thinking things will get worse over the next six months, considerably outnumbering the 28 per cent who think things will improve. In the UK this might, in part, be explained by the sense that the funding crisis at universities has reached a tipping point

In terms of overall company priorities, the top three remained: improving market share, finding and retaining talent, and cost cutting. This quarter, however, the last was down in the UK (from 47 per cent to 41 per cent) and in the US (from 36 per cent to 29 per cent), a reflection, perhaps, of a growing sense that, for now at least, inflation is beaten and does not look set to stage a comeback.

The tech sector continued to be the industry that most values novelty, with 41 per cent of FT readers working in the sector prioritising developing new products or services, compared to just 21 per cent in finance. These ambitions to diversify might reflect a sentiment that while the consumer tech boom might be over, the industrial tech boom could be just about to start.

In terms of corporate messaging to stakeholders, “trust” and “performance” were the top two communication priorities among FT readers, as they have been consistently over the last three years.

But there was a notable uptick of readers – from 33 per cent to 40 per cent – keen to communicate with stakeholders about their experienced management/leadership. Interestingly, this was considered even more of a priority by the C Suite themselves (46 per cent), who are possibly keen to set themselves apart in our age of increasing CEO-churn.