CEO Confidential: 10 items for the CEO agenda (Q4 2025)

Here is our pick of ten highlights, which should be on the agenda of every CEO for Q4 2025.

1. Let’s not touch it, if it grows.
   Macro-economic indicators show global growth also in October 2025, which starts off the quarter on a positive note. US GDP at +2.1% vs. LY (same as Q3); EU GDP at +1.5% vs. LY, with Germany flat, which is a big improvement vs. Q3. Inflation remains under control, except for countries like Turkey and Argentina, which are not left alone by the international institutions. Stock markets are positive for G7 markets, with a couple of weeks of slow-down in early October. Interest rates (10 years’ bonds) still high, as they were in Q3: 4% US, 2.6% EU (no change). Tariffs and war seem to have been absorbed by the global markets, with AI driving the performance of Western market. The question is: for how long?
2. AI blessing and AI curse?
   Professor Scott Galloway writes: “The top 10 stocks in the S&P 500 account for 40% of the index’s market cap. Since ChatGPT launched in November 2022, AI-related stocks have registered 75% of S&P 500 returns, 80% of earnings growth, and 90% of capital spending growth. Meanwhile, AI investments accounted for nearly 92% of the U.S. GDP growth this year. Without those AI investments, Harvard economist Jason Furman noted, growth would be flat”. AI is the blessing of 2025, as it was the blessing of 2023 and 2024. We are all happy, and secretly holding our breath, in case the AI boom slows down. Some analysts talk to an ‘AI bubble’, as a lot of the investments are changing pockets within the same small circle of tech players (Oracle, Nvidia, OpenAI, AMD), with a suspicion of what real value they are generating. Whatever the truth, a one big, global bet is never good news.
3. From AI to Buy.
   In October Walmart, the world’s largest retailer, announced a partnership, to have shoppers buy, directly from their favorite bot, their desired Walmart stuff. Open AI, during their so-called DevDay in October unveiled applications and development kits (SDK) to buy directly from their chat, without clicking further. It’s a predictable move for agents and bots, as AI applications and propositions are looking for a business model, to pay for energy and computing power consumption. AI bots cannot remain a free B2C concierge. At some point, they need to make money. I buy; therefore I and AI are.
4. Can Deloitte read?
   Deloitte partially reimburses the Australian and Albanese governments for material mistakes in reports having been commissioned to them. AI was used to craft the documents and Deloitte’s teams failed to catch AI generated mistakes. The accident unveils the limitations of AI tools, which can still hallucinate. It also proves how much the Big 4, and firms like them, can lose from a world where a better AI, in just a few years, will easily replace all consulting and strategy services. It’s a wake-up call. If Deloitte failed to read, they should at least hear the sound of a world that’s changing.
5. Peace talks.
   This is not the place for discussing who’s right or wrong. Q4 gives us a world that is more willing to discuss peace, or at least cease-fire, across the globe. It’s good news. Businesses operating in APAC and in the Middle East could look at a different 2026 or at least start talking about it.
6. The relevance of context.
   The Royal Swedish Academy of Sciences has awarded the Nobel Prize in Economics 2025 to Joel Mokyr, Philippe Aghion and Peter Howitt, “for having explained innovation-driven economic growth” – as mentioned on their websites. The three gents are not your usual economists, as their work is based on context, history, big picture, and – surprisingly – enjoyable to read. It’s not the end of quantitative economics, but growth is also a matter of culture, systems, and humans working against the same goal. Good news, in the era of AI and, tomorrow, robots and hardware-software integration. Culture does matter.
7. Napoleon meets Lupin.
   Thieves made their way into the Louvre, by far the best known and visited museum in the world, to steal jewels of incalculable value that used to belong to Napoleon, who was not shy with collecting spoils from conquered lands. In the era of tech, sensors, cameras, drones, it’s always useful to remind ourselves that crime evolves as much as business.
8. Looking for a job.
   Layoffs continue at big tech companies. Recent evidence, shared by The Economist, show how the young, more easily replaced by AI, automation and high efficiencies, may be impacted more, at least by looking at the past couple of years. It’s not a job apocalypse, driven by AI. It’s a change that looks like an inverted pyramid, with entry level jobs shrinking faster than senior ones. If you are young, you need to look harder. If you are less young, keep looking, as this initial evidence may not be the final verdict on the job market.
9. Romance is AI’s best use case?
   Following a similar announcement by Elon Musk for its xAI startup, ChatGPT (OpenAI) announced that it will soon allow its chatbot to engage in erotica for verified adults. AI bots for personal use, from personal advising to romance queries, seems to be booming. This signals for sure the need for a sidekick on how to manage personal relationship and self-discovery, especially in the digital era, where we are surrounded by lots of stimuli and someone’s worth can be torn apart quickly and broadly. As a business, adopting AI tools, products and services means for sure awareness around guidelines and values, as bots and chats can ill advise fans, if more sales are the only KPI. AI is power and a great investment. Our youth’s mental health, future and values are not negotiable, though.
10. TED changes hands and target.
    TED, one of the most known content platforms on the platforms, changes leadership. Chris Anderson, who bought it in 2001, steps back, after 25 years of success and growth. It’s a management transition, not a financial one. Sal Khan, the boss of Khan Academy, a free online learning site, becomes the vision steward of TED, whose new CEO is Logan McClure Davda, an internal executive. In an era of AI generated content, TED’s choice is around curation and education, which are territories where humans do better. We excel at giving meaning to things. New Generations can be entertained by faster, cheaper and exotic videos. It’s time to add some AI to education and make it a global priority, accessible to all.

Have you read?
Countries by Average Wealth per Person.
World’s most peaceful countries.
Largest and Smallest Countries (Population).
Countries With The Highest Income And Wealth Equality.
Countries with the Fastest Population Decline