Companies expected to earn less this year - CEOs' confidence in earnings hits 5-year low
Only three in 10 CEOs are confident in their companies' revenue growth prospects over the next year, the lowest level in five years, according to a global survey by professional services group PwC.
The annual survey of over 4,000 CEOs in 95 countries and territories late last year found them facing uncertainty over global political developments, rising cyber threats and what technological change means for their business.
One in five CEOs said their companies were highly exposed to losses from trade tariffs, and a third cited cyber risk as a major threat. A larger share, 42%, were concerned about what the pace of technological change meant for their companies.
The survey revealed a stark divide between those who were already seeing benefits from the introduction of AI and those who were not. While 56% said they had not seen any financial benefits to date, 33% reported increases in costs or revenues, and the remainder said AI had delivered wins in both costs and revenues.
PwC said a separate analysis showed that those companies that were widely applying artificial intelligence to products, services and customer experiences were benefiting the most, comparing this to the smaller benefit seen by those that were still experimenting with it.
"AI is here to stay. It is now a necessity for companies around the world to adopt, but the question is how," said the Global Head of PwC.
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