"The New DNA of Future CEOs: How Leadership is Evolving

The future belongs to those who continue to evolve, but watch out for those who want you to stay in their past or present.

Personal Log: The New DNA of Future CEOs: How Leadership is Evolving

The real leadership stories involve risk, difficult choices, standing alone, and knowing that you are only as good as the people around you—and only if they dare to lead and risk the same things CEOs do—their futures. However, these CEOs and their teams will begin a long revolutionary walk over the next few years. Yes, it is about AI and how it will change organizations and how they innovate and compete. It will not be the same as it used to be. CEOs had a luxury called time in the past because information was slow to extrapolate and act on. Their competitors had the same challenges; it was an even playing field. It won't be the same five and ten years from now.

In an era marked by rapid technological change, global competition, and interconnectedness, the role of CEOs and their teams will evolve faster and very differently.

How can their roles and the skills they need not change? We are at the beginning of creating intelligent organizations that will be run by humans and artificial intelligence; the humans will be the creators, and the artificial intelligence will be that interactive data bank with all the company’s history. There should be no doubt about this. No, it will not be sentient. However, a brand’s intelligence equates to brand resilience, which is lacking in many businesses and industries. In my current roles, my focus is on the future of businesses and how CEOs and their teams can lead them.

So, what will be the core traits of future CEOs? Some foundational attributes come from having a clear vision and strategic foresight, but that isn't new. What is new is that they must be leaders who build the next generation of companies, which will be led by technology. And that will change their roles and the types of teams that they will surround themselves with. They will need to R.A.I.S.E. the organization's "Brand Intelligence, which will equate to greater Brand Resilience." R.A.I.S.E. stands for an organization's culture to be responsive, authentic, innovative, sustainable, and have the emotional intelligence to deal with the changes that will be continuous in this environment.

This is just a chapter outline in the upcoming book later this fall.

This new era will be fun, challenging, and risky, which makes it exciting. It will also require a whole new breed of CEOs and teams to lead companies. I hope you will be one of them.

Six things you need to know... for Monday

• The economy is still being determined. Yes, things look like they are improving in some ways, but they are not there yet. Business leaders should be preparing their teams as we enter the last quarter of 2024 to nail down their plans for 2025. That means some much-needed team building and direction.
• According to Canada's Bank Governor, Tiff Macklem, AI will do two things. First, it will cause an initial but short-term burst of inflation and a loss of jobs. Video link to his speech
• Continuously re-evaluate all your business networks and relationships. Not everyone is capable or prepared to provide the services and resources you and your organization will need in this AI transformation. Everyone feels the pressure of this technological shift with AI, and not everyone can provide you with the right direction.
• Pay attention to employment trends. Which companies seem to be forging ahead with transformations? What skillset are they hiring for? Which sectors are laying off people? And why?
• Be willing to fail-forward. It is a philosophy that embraces failure as a critical stepping stone toward success. Organizations and individuals that embrace this take bold initiatives to break away from the herd with bold new ideas. Take your bold steps and be willing to fail forward.
• Heart Health: The ideal resting heart rate is 60-100 per minute. This article explains what a resting heart rate tells you about your health and health risks. The Telegraph Runners have a lower resting heart rate. Mine is 52; you will read that more aerobic exercise is needed.

Politics- The New Election Guidelines - Comic Relief

Watching the political scenes in Canada, the US, and the UK, we have pressing economic, technological, and geopolitical issues to resolve, and yet it is all turning into comedy sideshows. If Canada's Prime Minister stepped down, a leadership race within the Liberal Party would be created. This means a US-style political paradigm shift.

Technology -?"Toto, I've got a feeling we're not in Kansas anymore."

Pagers and walkie-talkies can be detonated, and smartphones can catch fire due to malware (cyber-attacks). Your voice can also be recorded and cloned to extort your friends and family's money. The elderly and employees are being duped into scams. Companies are having your personal information stolen, sometimes internally or externally, and other times because they use third-party service providers overseas who are hacked or employees sell the information. There is no telling what will happen next; we are at the beginning of AI. Data, our data, fuels it. Massive data centers are being built and proposed to be built. But we are vulnerable, and the onus is ours to protect ourselves. I believe that these attacks will only become more brazen and frequent. What's the risk? It can stop technological progress and, depending on the severity of attacks, could lead many of us back to cash and physical shopping.

Economy - Consumer and Business

This is still an AI rally in the market with a shift in who is leading the technology race. Investors this week were likely shocked that 高通 has approached 英特尔 for a takeover. However, the consumer market is hanging on with retail sales growth in Canada, the US, and the UK. Much of it is declining gas prices, returning to school, and no price reprieve, even as inflation cools. As noted in past updates, lower interest rates will take time to bring consumer confidence back to pre-pandemic levels.

Retailing - Has Nike Lost Its "Sole"

I am usually tough on results, not on people. But when people can't deliver the results they say they can, whether it's about execution or timing, nothing will go well because once a trickle of loose ends starts, more will follow. That has been the case with many retailers.

Just yesterday I was looking for a new pair of running shoes. I saw On and HOKA with some very interesting designs. But 耐克 even though they had a showing on the wall, wasn't as appealing except for its namesake. Of course, this week, Nike's CEO exited. Why? The brand, for all its historical innovation, fashion, and designs, has lost its culture of competition. They are no longer that brand that can help you compete, improve, train, and develop. They started becoming exclusive, like a luxury brand, and have misplaced their inclusiveness. We come again to what I outlined about R.A.I.S.E. Nike, which should be a brand that is leading the way with technology and AI with powerful brand intelligence, which equates to brand resilience. They have also misplaced that edge of intelligence and resilience. You may doubt it, but ON and HOKA wouldn't otherwise be competitors. So, I believe that Nike has lost its sole.

Retail: Heavy Discounting and Lower Gas Prices

I am not convinced that Canadian retailers are playing in a healthy marketplace. When you look at the Statistics-Canada numbers, many sectors have negative growth. So, I look at July's retail numbers as pent-up demand in the auto sector and back-to-school in clothing, with a lot of discounting noted between July and August.

Environment-? It's not over; it's only just starting

You don't have to be a weather expert; you must read about the subject carefully because it will influence economic and geopolitical issues over the next few decades. Imagine a world of climate change where we lose arable land. Unable to grow enough food or change what we grow. If you worry about inflation now, you haven't seen anything yet. It will also cause mass migrations of humans away from unliveable areas. One heat map shows where the coolest parts of the planet will be. You can bet that, over time, this will be where we try to live. If you click on the Climate Impact Map it will take you to the site where you can see for yourself the trouble that brews for humans.

At the end of the day, Age Intelligently and be more human

The other day, while running, I was almost run over by a driver who accelerated when they saw me. I was astonished, and I must admit what this driver was possibly thinking. I stopped just inches from their car. It occurred to me that there was no wisdom or humanity in that instant.

Knowledge isn't just power. It is wisdom and it can be liberating. A few years back, I met someone whose grandfather, at the age of 92, was reading Homer (The LLIAD). The poem delves deep into the psychology of its characters, portraying their motivations, struggles, and the tragic consequences of their actions. The Iliad is not just a tale of war but also a reflection on the human condition, the cost of pride, and the pursuit of glory. It befits all of us to understand our human condition because all of this bravado being carried out today will only benefit the very few and not often well.

Thank you for reading this week's issue of The Business Brief.