Only 30% of CEOs are confident about growth in 2026, as most face obstacles in turning AI investments into concrete results.  

Building on this, just 12% of CEOs report that AI has provided both cost and revenue benefits, suggesting that companies with strong AI foundations can advance more rapidly than their peers.  

Intensifying geopolitics and tariffs are fueling cyber risks, leaving CEOs under pressure to accelerate transformation.  

Despite these combined challenges, the United States remains the top destination for global investment, while interest in India has doubled compared to the previous year, highlighting shifting global investment sentiment.  

Reflecting these sentiments, CEO Confidence, Revenue Confidence, and Prospects have reached a 5-year low as business leaders contend with fluctuating AI outcomes alongside growing geopolitical and cybersecurity risks.  

These trends are underscored by PwC’s 29th Global CEOs Survey, which reports that only 30% of CEOs are confident in revenue growth over the next 12 months, down from 38% in 2025 and 56% in 2022. The data illustrate that, amid rapid technological change, geopolitical uncertainty, and economic pressure, many companies have not yet achieved consistent returns on their investments. Starting with these findings, the PwC CEO survey is based on responses from 4,454 CEOs across 95 countries and territories.  

Why is CEO Confidence Declining In 2026? 

AI is now the engine for growth and profitability. Many CEOs worry about keeping pace with rapid technological change, especially in AI. In a recent survey, 42% named this their top concern, outpacing those focused on innovation or long-term viability.  

Although many companies are experimenting with AI, only 12% of CEOs report realizing both cost and revenue benefits from AI adoption, while the rest cite concerns about revenue growth. Overall, 33% of CEOs have observed gains in either cost reduction or revenue generation, while 56% have not yet seen any meaningful financial benefits.  

Key findings from the PwC CEO Survey emphasize a widening gap between companies piloting AI and those implementing it at scale. CEOs who report both cost and revenue gains are two or three times more likely to have integrated AI extensively across products, services, demand generation, and strategic management.  

Strong AI foundations are as important as scale. CEOs whose organizations have implemented responsible cybersecurity and AI frameworks with technology environments that support enterprise-wide integration are three times more likely to report substantial monetary returns compared with those whose organizations have not. A separate PwC analysis shows that companies using AI across products, services, and customer experiences achieved, on average, nearly 4% points higher profit margins than companies not using AI across the board.  

Mohamed Kande, PwC Global Chairman, said:  

2026 is shaping up as a decisive year for AI. A small group of companies is already turning AI into accessible financial returns, while many others are still struggling to move beyond pilots. That gap is starting to show up in confidence and competitiveness, and it will widen quickly for those who don’t act.  

Confidence Declines Against A Backdrop Of Rising Tariffs And Cyber Risks 

CEO confidence continues to decline amid increasing global exposure to external risks.  

20% of CEOs report that their organizations face a high or extreme risk of significant financial loss due to geopolitical and tariff impacts. In the next 12 months, regional exposure varies from 6% in the Middle East to 28% in the Chinese mainland and 35% in Mexico. In the U.S, 22% of CEOs report high exposure.  

Cyber risk anxiety is surging 31% of CEOs now see it as a top threat, up from 24% last year and 21% two years ago. In response, 84% plan to bolster their entire organization’s cybersecurity to counter these dangers.  

Concerns about macroeconomic volatility (31%), Technology Disruption (24%), and Geopolitics (23%) have increased, while concern about inflation has slightly decreased from 27% to 25%.  

Reinvention Is Now An Essential Priority 

Despite these ongoing challenges, CEOs are rallying around reinvention as a must-have for future growth.  

42% report their companies have entered new sectors in the past five years. Of those planning major acquisitions, 44% expect to invest outside their current industry, with technology as the leading adjacent sector.  

51% of CEOs plan international investments in the coming year. The United States remains the top destination, accounting for 35% and ranking among its top three markets. The United Kingdom and Germany both rank highly, and the Chinese mainland is also a key destination. Interest in India has nearly doubled year-on-year, with 13% of CEOs now including it in their top three choices.  

Execution deficiencies continue. Only one in four CEOs reports that their organizations tolerate high risk in innovation projects. They have disciplined processes to end underperforming initiatives or operate a defined innovation center or corporate venturing function.  

Time management remains tough. CEOs spend nearly half their efforts on short-term issues, while just 16% goes toward shaping the future five years out and beyond.  

Mohamed Kande, PwC Global Chairman, stated:  

Moving slowly might feel safe during rapid change but it’s risky. As global value rises and opportunities shrink, only decisive companies that invest boldly in critical capabilities can expect to succeed.  

About PwC’s 2026 Global CEO Survey 

PwC’s 2026 Global CEO Survey gathered insights from 4,454 CEOs across 95 countries and territories between November 30, 2025, and November 10, 2025. Global and regional results are weighted against countries’ nominal GDP, ensuring representation across major regions, industries, and countries. Industry- and country-level data indicate that responses from all surveyed CEOs are underweight.  

At PwC, we help clients build trust and transform complex challenges into advantages. Our network of over 364,000 people in 136 countries and 137 territories provides audit and assurance, tax, legal, deals, and consulting services, supporting clients across risk management, compliance, transactions, and business transformation.