CEOs’ revenue expectations at five-year low
CEOs’ revenue growth expectations have fallen to their lowest level in five years, as most companies struggle to turn their investments in artificial intelligence (AI) into tangible returns. 42% of business leaders fear they will fall behind in the pace of technological adaptation, while customs and cyber risks have also intensified. The results of the PwC’s 29th Global CEO Survey were presented yesterday at the World Economic Forum in Davos.
Of the 4,454 CEOs surveyed in 95 countries around the world, only 30 percent said they were optimistic about their company’s revenue growth in the next 12 months – compared to 38 percent in 2025 and 56 percent in 2022. The findings suggest that many companies have yet to translate their investments into financial results as CEOs navigate a complex operating environment shaped by rapid technological change, geopolitical uncertainty and economic pressures.
2026 could be a defining year in the race between “AI leaders” and “laggards”
Despite widespread experimentation with AI, 56 percent of respondents do not see any tangible benefits. 26 percent of respondents saw cost reductions and 30 percent saw revenue increases. Only 12 percent reported clear benefits – both revenue increases and cost reductions.
Rapid, organizational-wide AI integration creates a profit differential: CEOs who are already seeing incremental revenue from their AI investments are two to three times more likely to report that their company has broadly integrated AI into its products and services, customer demand generation, and strategic decision-making.
The foundation matters as much as the scale of adoption. Business leaders who say their organization has a strong AI foundation—such as a responsible AI framework and a technology environment that enables enterprise-wide integration—are three times more likely to report meaningful financial returns. According to a separate analysis by PwC, companies that widely adopt AI across their products, services, and customer experiences have achieved nearly four percentage points higher profit margins than those that have not yet done so.
“2026 promises to be a pivotal year for AI. A small group of companies are already turning AI into measurable financial results, while many are still struggling to move beyond pilot projects. This gap is already showing in trust and competitiveness – and will grow rapidly for those who are those who don’t.”
Falling confidence, rising customs and cyber risks
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