A recent PwC survey with over 4,700 CEO participants revealed that 45% of leaders globally are concerned about the long-term viability of their companies. These business leaders feel that their organizations may not survive the next 10 years, given the impact of climate change and technology, especially AI.
While 74% acknowledge that artificial intelligence (AI) will significantly alter the way their companies create, deliver, and capture value in the next three years, over 50% believe that AI will enhance their products or services.
However, 69% expressed concerns about their workforce's readiness to adapt to the evolving technological landscape, highlighting the need for urgent upskilling. Additionally, executives are wary of the cybersecurity risks and misinformation associated with the increased integration of AI in business operations.
Around 38% of executives expressed confidence in the strength of the economy, a substantial surge from the previous year's 18% amid a challenging economic backdrop of high inflation, weak growth, and rising interest rates.
Around 33% of executives anticipate changes in their operations due to climate change in the next three years. While over 75% have initiated or completed measures to enhance energy efficiency, only 45% have incorporated climate risks into their financial planning.
Recently, the World Economic Forum's latest Global Risks Report stated that AI-generated misinformation and disinformation are the biggest short-term threats to the global economy.