Lack of trust in AI makes CEOs hesitate
Trust in AI remains a hurdle to more widespread adoption in businesses. Only a third of CEOs have a high degree of trust in embedding the technology into key processes in their company. However, more than half (56%) report that using GenAI has meant efficiency gains in their employees’ time over the last 12 months and one-third saw revenue (32%) increases, consultancy PwC’s annual global CEO survey shows.
Performance is somewhat below expectations expressed last year. In 2024, 46% said they expected to see profitability improvements. A year later, when we asked if they had seen those gains, only 34% said they had.
“Despite this, optimism about GenAI’s impacts on profitability is slightly up on last year – with 49% expecting an increase in the next 12 months. Roughly half (47%) expect to integrate AI (including GenAI) into their technology platforms over the next three years, 41% plan to integrate it into core business processes and 30% have plans for new products and service development.”
“While it is early days, there is nothing in our data to suggest a widespread reduction in employment opportunities across the global economy as a result of GenAI. More CEOs say GenAI has increased headcount than decreased it (17% v 13%).”
Almost 60% expect global economic growth to increase over the next 12 months.
The report, which surveyed 4,701 CEOs across 109 countries and territories, also finds that 42% expect to increase headcount by 5% or more in the next 12 months – more than double the proportion who expect headcount decreases (17%), and up from 39% last year.
“The percentage is highest (48%) among smaller companies (less than US$100 million) and those in the technology (61%), real estate (61%), private equity (52%) and pharma and life sciences (51%) sectors.”
Macroeconomic volatility (29%) and inflation (27%) remain the top risks for the year but with clear regional differences. Geopolitical conflict is seen as the biggest risk in the Middle East (41%) and Central and Eastern Europe (34%).
In Western Europe, cyber risk (27%) is a marginally higher concern than a lack of skilled workers (25%) and inflation (24%) – with macroeconomic volatility topping the list at 29%.
Inflation is the top concern in Africa (39%), while North America and Asia-Pacific prioritise risks largely in line with the global averages.
42% of CEOs believe their company will not be viable beyond the next decade if it continues on its current path. 42% of them cite shifts in the regulatory environment as having the biggest influence on their economic viability.
(63% have taken at least one significant action to change how their company creates, delivers, and captures value in the last five years.
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