“The macro environment is difficult to read. It’s a huge exercise in humility,” Ollagnier told me by phone from Paris.

He didn’t engage in macro-economic forecasts, either. “I’m not that sure that I can tell what will happen next,” he said. “We’ve learned that what happens in the world can surprise us a lot.” Ollagnier says he stays away from making predictions—unlike business leaders of the past—because there are no macro-economic forecasting models that can “grasp” the kind of events we’ve lived through since COVID. “Wage inflation, geopolitics, energy price fluctuation, a couple of wars…I’m not sure any model that we are living with can deal with that,” he said. “We have to accept some level of uncertainty.”

Ollagnier told me that many other CEOs have embraced this “careful” attitude as well, focusing instead on what they can control. “Many in my peer group acknowledge that we don’t have complete clarity,” he said.

Accenture labels itself a tech company so the one driver it is crystal clear on is the advance and impact of technology and generative AI. In Europe alone, gen AI could boost GDP growth by up to 0.6% per year in the next decades, the firm said this week.

“We are more certain about that, than frankly, the macroeconomic environment around it,” Ollagnier said. “When I graduated from computer science, technology was part of the engine of change, but there were many others. Today, it has never been so central across all the value chain.”

Separately, here’s Dow CEO Jim Fitterling on the role of Fortune in a changing world:

“Fortune is an important and balanced convener—providing a platform for leaders to collectively engage in important conversations around issues that are impacting our businesses, society and sustainability. It acknowledges our collective challenges, while stressing the importance of profitable AND sustainable investment. As we pursue our own ambitions around growth, innovation, sustainability, inclusion and other topics, and navigate the complexities of the geopolitical and macro environment, we are fortunate to engage with Fortune readers and look forward to continuing this partnership for years to come.”

More news below. 

Peter Vanham
peter.vanham@fortune.com
@petervanham

TOP NEWS

Paying up

UnitedHealth CEO Andrew Witty confirmed that the insurance company paid a $22 million ransom to hackers who broke into subsidiary Change Healthcare, a breach that wreaked havoc on the U.S. health care system. “This was one of the hardest decisions I’ve ever had to make,” Witty told the Senate Committee on Finance on Wednesday. The Verge

CEO burnout

CEO turnover hit a record last quarter with 622 CEO changes, up 48% from the same period in 2023. Experts say CEOs are hitting their limit after years of tumult and rapid technological change. Recent departures include HSBC’s Noel Quinn, Paramount’s Bob Bakish, and Dr. Martens’ Kenny Wilson, who said this year is his last at the footwear company. Business Insider

Chinese tourists are back

Outbound trips from China for April 27 to May 5, which includes the May Labor Day holiday, are just 7% off 2019 levels. The data signals that Chinese tourists—once the world’s biggest travelers who spent $248 billion on trips abroad in 2019—are finally returning to their jetsetting ways, promising to boost the global travel industry. Bloomberg

AROUND THE WATERCOOLER

An AI company you never heard of just raised $1 billion. Here’s what CoreWeave’s new $19 billion valuation really means by Sharon Goldman

Peloton, the fallen fitness unicorn, faces a harsh truth despite its shiny new deal with Hyatt hotels by Sasha Rogelberg

Jerome Powell has had it with the 1970s talk, saying he doesn’t see the ‘stag’ or the ‘-flation’ investors are worried about by Will Daniel 

Meet the Norwegian-owned cruise challenger to Carnival and Royal Caribbean that just raised $1.54 billion by Prarthana Prakash

Intuit’s ‘head of employee listening’ talks about the science of worker feedback—and the art of asking the right questions by Paige McGlauflin

Starbucks flags unusual phenomenon for ‘disappointing’ sales: It’s too popular with morning commuters by Eleanor Pringle

This edition of CEO Daily was curated by Claire Zillman.