Only three-in-ten CEOs (30 per cent) said they are confident about revenue growth over the next 12 months, down from 38 per cent in 2025 and 56 per cent in 2022, according to PwC’s 29th Global CEO Survey. The study included 4,454 CEOs across 95 countries and territories.
Forty-two per cent of CEOs cited whether their organizations are transforming fast enough to keep pace with technology—including AI—as their top concern, ahead of innovation capability or medium- to long-term viability (both 29 per cent).
Despite widespread experimentation, only 12 per cent of CEOs reported that AI had delivered both cost and revenue benefits. Thirty-three per cent said AI produced gains in either cost or revenue, while 56 per cent reported no significant financial benefit.
PwC noted a clear divide between companies piloting AI and those deploying it at scale. CEOs reporting gains in both cost and revenue were two to three times more likely to have embedded AI across products, services, demand generation, and strategic decision-making.
Strong AI foundations also mattered. Organisations with responsible AI frameworks and enterprise-ready technology environments were three times more likely to report meaningful financial returns. PwC analysis found that companies using AI broadly across products, services, and customer experiences achieved nearly four percentage points higher profit margins.
Mohamed Kande
Mohamed Kande, PwC Global Chairman, said: “2026 is shaping up as a decisive year for AI. A small group of companies are already turning AI into measurable financial returns, while many others are still struggling to move beyond pilots. That gap is starting to show up in confidence and competitiveness–and it will widen quickly for those that don’t act.”
External risks add pressure
One-in-five CEOs globally (20 per cent) said their organisations face high exposure to potential financial losses from tariffs over the next 12 months. Regional exposure varied from 6 per cent in the Middle East to 28 per cent in the Chinese Mainland and 35 per cent in Mexico. Among U.S. CEOs, 22 per cent reported high exposure.
Concern about cyber risk rose sharply, with 31 per cent of CEOs citing it as a major threat, up from 24 per cent last year and 21 per cent two years ago. In response, 84 per cent plan to strengthen enterprise-wide cybersecurity as part of their geopolitical risk strategy.
Other concerns increased slightly: macroeconomic volatility (31 per cent), technology disruption (24 per cent), and geopolitics (23 per cent). Concern about inflation declined modestly, from 27 per cent last year to 25 per cent.
Reinvention drives strategic decisions
Despite the challenging environment, 42 per cent of CEOs said their companies have entered new sectors over the past five years. Among those planning major acquisitions, 44 per cent expect to invest outside their current industry, with technology being the most attractive sector.
A little over half of CEOs (51 per cent) plan international investments in the coming year. The U.S. remains the top destination, with 35 per cent ranking it among their top three markets. The U.K. and Germany attracted 13 per cent each, and the Chinese Mainland 11 per cent. Interest in India nearly doubled, with 13 per cent placing it among their top three targets.
Execution gaps remain. Only one in four CEOs said their organisations tolerate high risk in innovation projects, have disciplined processes to stop underperforming initiatives, or operate a defined innovation centre or corporate venturing function.
CEOs also reported spending 47 per cent of their time on short-term issues (less than one year) versus 16 per cent on long-term decisions (more than five years).
Kande added: “In periods of rapid change, the instinct to slow down is understandable–but it’s also risky. The value at stake across the global economy is increasing, and the window to capture it is narrowing. The companies that succeed will be those willing to make bold decisions and invest with conviction in the capabilities that matter most.”
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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