Additional CEOs worry that as AI and climate change issues increase, their companies won’t survive in ten years: survey

CEOs worldwide are increasingly optimistic about the global economy, with 38% expressing confidence, up from 18% last year, according to a survey of 4,700 CEOs conducted by PwC. Despite improvements in the economic outlook, executives are growing more apprehensive about their companies’ viability over the next decade due to the challenges posed by climate change and artificial intelligence (AI). The survey reveals that 45% of CEOs are worried about the viability of their businesses in the coming decade without significant reinvention, up from 39% the previous year. CEOs cite challenges such as regulatory obstacles, a lack of skilled workers, and more, hindering their efforts to make necessary changes.

Nearly three-quarters of CEOs believe AI will significantly change the way their companies create, deliver, and capture value in the next three years, with over 50% seeing AI as a tool to enhance their products or services. However, 69% express concerns about the need for workforce training to adapt to AI, along with increased cybersecurity risks and misinformation. Approximately one-third of CEOs acknowledge that climate change is expected to influence their business operations in the next three years.

While over 75% of executives have initiated changes to increase energy efficiency, only 45% have made progress in incorporating climate risks into financial planning. In conclusion, while executives are more positive about the global economy, the survey underscores the urgency for businesses to navigate challenges posed by climate change, technology, and innovation. CEOs emphasize the importance of comprehensive approaches that address workforce training, regulatory hurdles, and sustainable practices to ensure long-term business viability.