Leading through uncertainty in the age of AI – PWC Global CEO Survey

Executive Summary

PwC’s 29th Global CEO Survey captures a defining leadership tension: CEOs are facing elevated short-term threats while also needing to reinvent their businesses for a future shaped by AI, industry convergence, geopolitical volatility, cyber risk and shifting global capital flows. The report argues that business leaders cannot afford to pause transformation until conditions stabilize. Instead, the companies moving fastest on AI, innovation and new-sector growth are beginning to outperform less dynamic peers.

For business leaders, the central message is clear: uncertainty is not a reason to delay reinvention. It is the reason to accelerate it.

Major Takeaways

AI is advancing, but ROI remains uneven. Thirty percent of CEOs report increased revenue from AI in the past year, 26% report lower costs, but 56% say they have realized neither revenue nor cost benefits. PwC’s point: isolated AI pilots are not enough. Returns are more likely when AI is tied to enterprise strategy, integrated into workflows, and supported by data, governance, responsible AI processes, and culture.

Industry boundaries are blurring. Forty-two percent of CEOs say their companies have begun competing in new sectors over the past five years. PwC connects this to a broader reconfiguration of industries driven by technology, climate change, geopolitics, and changing customer needs.

CEO confidence is down, but growth opportunities remain. Only 30% of CEOs are very or extremely confident about their company’s revenue growth over the next 12 months, down from 38% in the prior survey. Yet more than half of CEOs are planning international investments, with the United States, the United Kingdom, Germany, China and India among notable investment destinations.

Trust and risk are now performance issues. Two-thirds of CEOs report stakeholder trust concerns in at least one area of business operations over the past year. Cyber risk is also rising, with 31% saying their company is highly or extremely exposed to significant financial loss from cyber threats in the year ahead.

The CEO calendar may need reinvention. CEOs report spending 47% of their time on issues with horizons of less than one year, compared with only 16% on activities with horizons beyond five years. PwC challenges leaders to rebalance attention between immediate pressures and long-term viability.

Talking Points for Executives

The companies most likely to outperform are not simply adopting AI; they are redesigning how value is created.

Reinvention should not be treated as a transformation program on the side. It should be embedded in strategy, capital allocation, operating models, talent planning, and board discussions.

Growth may increasingly come from outside the company’s traditional sector, which means leaders need sharper ecosystem strategy, partnership capability, and M&A discipline.

Risk management and growth strategy are converging. Geopolitical exposure, cyber resilience, stakeholder trust, and AI governance now directly influence value creation.

Reflection Questions

Where are we still running AI experiments when we should be redesigning workflows, products, or customer experiences?

What percentage of our future growth plan depends on markets, sectors, or ecosystems we do not yet fully understand?

Are we allocating enough executive time to long-term reinvention, or are urgent issues crowding out future competitiveness?

Which trust concerns could become financial, regulatory, or reputational risks if left unmanaged?

What capabilities would we need to compete successfully outside our current industry boundaries?

Potential Action Items

Conduct an AI value audit to distinguish pilots from initiatives that can generate measurable revenue, productivity, or cost impact.

Review the leadership team’s time allocation and create a standing agenda for long-term reinvention, not just quarterly performance.

Map adjacent sectors where your capabilities could create new revenue pools, then assess whether you should pursue growth through build, buy, or partner strategies.

Strengthen AI governance, cybersecurity, and stakeholder trust processes as part of enterprise risk management.

Use capital-flow and geopolitical scenario planning to inform market entry, supply chain, and investment decisions.

Recommended Similar Articles

1. PwC — “Decoding ROI from AI”
   Useful for leaders who want to understand why some companies are capturing greater AI performance gains while others remain stuck in pilots.
2. PwC — “Value in motion”
   A strong companion piece on how AI, climate change and other megatrends are reshaping industries and creating new growth opportunities.
3. PwC — “Global Workforce Hopes and Fears Survey 2025”
   Helpful for connecting CEO reinvention priorities to workforce readiness, AI adoption and employee motivation.
4. PwC — “Leader’s guide to value in motion”
   Recommended for executives thinking through how industry reconfiguration could change where and how their companies create value