PwC 2026 Global CEO Survey: CEO confidence hits five-year low as AI divides leaders and laggards

CEO confidence in revenue growth prospects has fallen to its lowest level in five years, according to PwC's 29th Global CEO Survey. Only 30 percent of CEOs say they are confident about revenue growth over the next 12 months, down from 38 percent in 2025 and 56 percent in 2022. The survey is based on responses from 4,454 CEOs across 95 countries and territories. The biggest concern for CEOs is whether they are transforming fast enough to keep pace with technological change, including artificial intelligence. Forty-two percent cite this as their top concern, well ahead of worries about innovation capability or medium- to long-term viability, both at 29 percent. Despite widespread experimentation, only 12 percent of CEOs say AI has delivered both cost and revenue benefits. Overall, 33 percent report gains in either cost or revenue, while 56 percent say they have seen no significant financial benefit to date. The survey points to a growing divide between companies piloting AI and those deploying it at scale. CEOs reporting both cost and revenue gains are two to three times more likely to say they have embedded AI extensively across products and services, demand generation, and strategic decision-making. CEOs whose organizations have established strong AI foundations, such as responsible AI frameworks and technology environments that enable enterprise-wide integration, are three times more likely to report meaningful financial returns. Separate PwC analysis shows that companies applying AI widely to products, services, and customer experiences achieved nearly four percentage points higher profit margins than those that did not. PwC Global Chairman Mohamed Kande said 2026 is shaping up as a decisive year for AI, with a small group of companies already turning AI into measurable financial returns while many others are still struggling to move beyond pilots.