CEO revenue confidence hits 5-year low – PwC survey

DAVOS, Switzerland Jan 19 (Reuters) – Only three in 10 chief executives are confident about their company’s revenue growth prospects next year, according to a global survey published on Monday by professional services group PwC. This is the lowest level in five years.

The annual survey of more than 4,000 CEOs in 95 countries and territories late last year found they grappled with global political developments, rising cyber threats and uncertainty about what technological change means for their business.

One in five CEOs said their companies are highly exposed to losses from trade tariffs, and a third described cyber risk as a major threat. A larger share (42%) was concerned about what the pace of technological change meant for their company.

“The biggest question on CEOs’ minds is whether they are transforming fast enough to keep up with technological change, including artificial intelligence,” the survey concluded.

The survey found a stark divide between those who currently see benefits from AI adoption and those who do not: 56% said they had not seen any financial benefits to date, while 33% reported an increase in costs or revenue, while the remainder said AI provided both cost and revenue gains.

PwC said a separate analysis showed that companies that have widely applied AI to products, services and customer experiences have benefited the most, while those still trying it have seen fewer benefits.

“Artificial intelligence works and is here to stay. It is now imperative for companies all over the world to adopt AI; the question is how,” PwC Global President Mohamed Kande said at a press conference on the sidelines of the World Economic Forum in Davos. he said. (Written and reported by: Mark John; Edited by Andrea Ricci)