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The 27th Annual Global CEO Survey from PwC paints a picture of a global leadership community at a pivotal moment.

CEOs globally find themselves at a crossroads between traditional business models and the urgent need for reinvention. Embracing generative AI and proactive climate strategies, CEOs are steering their companies through a period of profound change, with the dual goals of long-term sustainability and immediate competitive advantage.

For a deeper dive into the comprehensive insights from PwC's 27th Annual Global CEO Survey, you can access the full report, and an audio overview, here.

Or read our summary, below:

Economic outlook and CEO confidence:

• There is a noticeable increase in optimism about global economic growth, with 38% of CEOs feeling positive about the future, a significant rise from the previous year's 18%. However, this optimism is tempered by a growing awareness of the need for substantial business model transformation.
• Notably, nearly half of the CEOs surveyed expressed concerns that their businesses may not be viable in the next decade without significant reinvention, an increase from 39% to 45% over the past year.

Generative AI as a catalyst for change:

• A significant majority of CEOs (70%) believe that generative AI will drastically alter how their businesses create, deliver, and capture value within the next three years. They anticipate this technology will enhance product quality, increase revenue, and improve profitability.
• CEOs are also recognising the need for workforce upskilling to harness the full potential of AI, alongside addressing emerging challenges such as cybersecurity risks and potential biases.

Climate change and sustainability:

• Climate change is increasingly perceived not just as a challenge but also as an opportunity to innovate and differentiate. CEOs are actively integrating climate priorities into their business strategies, with a significant number aiming to improve energy efficiency and adapt their operations to be more sustainable.

The imperative for continuous reinvention:

• The survey underscores a relentless drive among global CEOs to rethink and reshape their business models. This involves adopting new technologies like AI and re-evaluating their operational and organisational structures to stay ahead in a rapidly evolving market.