JP Morgan - Business Leaders Outlook, Innovation Economy, 2023

The 2023 Midyear Business Leaders Outlook is a survey that provides insights into the challenges and opportunities facing executives of midsize companies in the United States. The survey found that more than 60% of innovation economy leaders said their costs continue to rise, which will translate to increased prices for consumers and buyers. Despite a drop in optimism in the past six months, innovation economy leaders remain ambitious and optimistic about the national and local economies. Most innovation economy leaders are planning to add or maintain headcount, even with a recession on their minds. Respondents plan to use artificial intelligence (AI) tools, with business operations, product development, and communications the most cited applications. About 35% of leaders anticipate they will look to current investors to extend a round or raise new equity over the next 6-12 months. The error rate of the survey is plus or minus 9.0% at the 95% confidence interval. Overall, the survey provides a snapshot of the current state of the innovation economy and the challenges and opportunities that lie ahead for midsize companies in the United States.