The Associated Press reports that more executives are feeling better about the global economy, but a growing number don’t think their companies will survive the coming decade without a major overhaul because of pressure from climate change and technology like artificial intelligence (AI), according to a new survey of CEOs by global consulting firm PwC.
The survey of more than 4,700 CEOs worldwide was released Monday, and it showed a mixed picture of the coming years.
Thirty-eight percent of executives were optimistic about the strength of the economy, up from 18% last year. CEOs’ expectation of economic decline dropped to 45% from a record-high 73% last year, and fewer saw their company as highly exposed to the risk of geopolitical conflict.
Executives, meanwhile, felt worse about the prospects for their companies’ ability to weather big changes. The survey shows 45% of the respondents were worried that their businesses wouldn’t be viable in a decade without reinvention, up from 39% last year. CEOs say they’re trying to make changes but are running up against regulation, a lack of skills among workers, and more.
More than half of CEOs said AI will make their products or services better, but 69% noted that their workers needed training to gain skills to use the developing technology. They also were concerned about how AI would increase cybersecurity risks and misinformation.
Similar to AI, the PwC survey shows that the climate transition is both an opportunity and a risk. An increasing number of CEOs — nearly a third — say climate change was expected to shift how they do things over the next three years.
