The PwC CEO survey (AI finds business leaders increasingly divided over the benefits of artificial intelligence (AI) as they negotiate swift technological change.
The survey of 4,454 CEOs across 95 countries reveals a sharp divide between those achieving tangible AI returns and those unable to progress beyond pilot projects. The survey determines AI winners vs. laggards. To show this divide has contributed to the lowest Confidence in 12-Month Revenue Growth in five years, with only 30% exhibiting confidence, down from 38% in 2025.
Key Findings on AI Adoption and Value
Divided Benefits: Only 12% of CEOs report that AI has delivered both cost and revenue benefits, while 56% have seen no meaningful financial gains so far.
The divide phenomenon: there is a clear gap between leaders who have scaled AI with a strong foundation and laggards who remain in the pilot phase.
Key drivers of success: Companies with strong AI foundations, including responsible AI frameworks and robust technology environments, are three times more likely to report meaningful AI ROI.
TANGIBLE RESULTS: 33% of CEOs report gains in either cost or revenue. Companies that apply AI extensively to products, services, and customer experiences achieve profit margins that are nearly 4 percentage points higher than those of others.
Accelerating Technology And Other Pressures
Top concern: 42% of CEOs identify the speed of technological change, particularly AI, as their primary concern.
Risk factors: In addition to AI, 31% of CEOs view cyber-risk as a major threat, up from 24% last year. Additionally, 20% feel highly exposed to financial losses from tariffs.
Investment Focus: Despite mixed results, companies maintain emphasis on AI embedding with their prepped business models to remain competitive.
Ahmed Kande, PwC Global Chairman, described 2026 as a decisive year for AI, noting that the gap between companies leveraging AI for financial gains and those struggling will widen quickly for those that do not act.
PwC’s survey finds energy leaders under pressure to adopt AI and sustainability, with 40% viewing current models as unsustainable within the next decade.
Technological disruption and climate imperatives are forcing the energy sector to change its business models.
Companies must now focus on how quickly they can adapt to stay competitive.
PwC’s 28th annual Global CEO Survey reveals a sobering statistic: 40% of energy utilities and resources sector leaders believe their companies would be unviable within ten years if they continued on their current path.
4 in 10 executives believe their organizations have a limited future.
PwC finds that the sector is being altered by AI adoption challenges, sustainability, and international political tensions.
Risk factors are changing – how value is created. The survey shows a clear gap between leaders using Gen AI and low-carbon strategies and those stuck with legacy processes.
Maxim Vykhovanets, Country Managing Partner and Energy, Utilities, and Resources Leader at PwC in Ukraine, says new challenges and risks drive transformation but also bring benefits and opportunities.
He identifies technology as a driver of the productivity gains that energy companies urgently require.
This can greatly improve productivity through automation, AI, 3D printing, and other disruptive technologies. Maxim adds.
He sees further opportunities in improving sustainability and circularity to address climate change.
How Enterprises Can Unlock Value
All business leaders hold high expectations for Gen AI, setting it apart from many other technology trends.
One-third of CEOs report that Gen AI has already increased revenue and profitability over the past year.
The survey shows that:
- 56% of CEOs believe Gen-AI improves employee productivity
- 32% have increased revenue
- 34% have noted improved profitability
Although these results fall slightly short of last year’s optimistic expectations, 49% of CEOs still expect Gen AI to increase profitability over the next 12 months, demonstrating continued optimism.
Gene AI is influencing workforce dynamics in varied ways, impacting both job numbers and roles.
Some CEOs report reduced headcount due to Gen AI, while others have seen workforce growth from their investments, reflecting the technology’s diverse impact on staffing.
Nearly half of CEOs consider integrating AI into technology platforms and workflows a top priority over the next three years.
However, only one-third plan to incorporate AI into workforce and skills strategies, highlighting a gap between technological goals and human capital planning.
How Climate Action Proves Financially Smart
For companies in the energy, utilities, and resources sector, climate action is proving to beneficial for business.
The survey finds that 17% of EUR companies report reduced costs from climate-friendly investments, while 37% have seen increased revenue.
Across industries, PwC finds that investments in enterprise AI strategy are 6x more likely to boost revenue than to reduce it, disputing conventional views on sustainability costs.
Economic outcomes reveal promising regional differences.
About half of CEOs in Germany and France report increased costs from climate-friendly investments, compared with only one-fifth in the US, highlighting varied but positive momentum.
In mainland China, 60% of CEOs report revenue growth, and 46% receive government incentives, giving them a clear competitive advantage.
Nearly 70% of investors believe companies should prioritize sustainability, even if it affects short-term profits.
This alignment highlights that prioritizing sustainability is now an essential part of corporate financial planning, supporting both growth and competitive advantage.
PwC’s data shows greater reinvention yields stronger profit margins. Companies that are rethinking their business models and adopting AI are better prepared for future success.
The survey finds that while most leaders have begun to reshape value creation, few have made significant required modifications for lasting transformation that distinguishes successful companies from those that fall behind.
Maxim notes that opportunities extend beyond immediate technological gains, with further potential in improving sustainability and circularity in response to climate change.
Why Most CEOs See No AI ROI Yet
Recent reports show a rapid increase in AI adoption. However, 80% to 95% of companies have not yet achieved significant, measurable returns on investment (ROI) from their AI initiatives.
This brings us to the key question: Why does AI adoption often fail to yield measurable results?
The following are the main reasons why most CEOs have not yet realized AI ROI.
- The Proof of Concept Trap
A significant number of organizations remain in the pilot or proof-of-concept phase without moving executive-sponsored projects to enterprise-scale production.
- Failed scaling: While 80% of companies are experimenting, only 5% to 15% have effectively incorporated AI into core workflows.
- Shiny Object Syndrome: Many companies use AI for low-impact, trendy applications (such as basic content generation) rather than streamlining intricate back-office functions that could deliver higher returns.
- Lack Of Foundational Data And Infrastructure
Unlocking the full potential of AI requires clean, connected, and accessible data; a resource many organizations still lack.
- Siloed data: Fragmented systems prevent AI from accessing the data it needs to produce valuable insights.
- Poor-quality data: 85% of AI projects fail due to insufficient or irrelevant data.
- Executives frequently underestimate the scale and cost vs. revenue impact barriers to adoption and data pipelines, leading to budget overruns of up to 10x.
- Misaligned Strategy And Inability To Measure
AI projects frequently miss the mark in accordance with business strategies, making them difficult to justify and measure.
- FOMO-driven investment: Certain initiatives are launched reactively, driven by market anxiety rather than clear, leadership-defined objectives.
- Undefined KPIs: 60% of companies do not track the appropriate metrics to determine ROI, or have not established proper KPIs for cost-cutting. Many companies are focusing only on using AI for immediate cost-cutting (e.g., replacing staff) rather than for boosting operational effectiveness, revenue growth, or innovation.
- Cultural and Human Capital Barriers
Enterprise-wide adoption is impeded by skills gaps and resistance to transformation, both of which require decisive executive leadership.
- The learning gap: There is a significant shortage of internal expertise to design, build, and scale AI solutions.
- Up To 70% of AI programs face setbacks due to workforce resistance or insufficient change management challenges that require dedicated executive attention to address job security concerns and usability issues.
5. High Costs vs. Marginal Gains
The development and ongoing operation of AI often create cost structures that can outpace early-stage gains, emphasizing the need for executive rigor in evaluating and investment horizons.
- Expensive tools: Implementing AI, especially when building in-house, can be very costly, though initial productivity gains may not justify the investment.
- Many organizations implement broadly available AI tools rather than prioritizing industry-specific, custom solutions, which require executive prioritization for strategic impact.
6. The Change Distance and High Complexity
AI evolves towards autonomous systems. Business leaders should anticipate greater implementation complexity. Agentic AI offers transformative potential for organizations, but its deployment is significantly more challenging. According to a 2025 report, only 10% of organizations currently have substantial ROI.
- Long-term payoffs: Achieving substantial ROI from AI often takes several years as it requires reconfiguring complex workflows.
The Road Ahead.
Despite the current lack of ROI, most CEOs are maintaining investments, viewing AI as a long-term vital imperative. The 15% of companies succeeding, known as trailblazers, invest in and build a solid, long-term, integrated AI strategy.
