2024-01-15 18:32:00
Global CEOs are increasingly concerned regarding the long-term viability of their businesses, a PricewaterhouseCoopers survey shows ahead of Davos, with growing pressure from generative artificial intelligence (AI) and climate disruption, according to Archyde.com .
Artificial intelligence Photo: © BiancoBlue | Dreamstime.com
Some 45 percent of the more than 4,700 global CEOs surveyed do not believe their businesses will survive, barring significant change, over the next ten years, the “Big Four” auditor said.
“There’s the 55% who think they don’t need to change radically, and I’d say they’re a bit naïve because the world is changing so fast around them,” PwC Global President Bob Moritz told the Archyde.com Global Markets Forum (GMF), before the annual meeting of the World Economic Forum in Davos.
Advances in generative artificial intelligence were top of mind for most survey respondents, with nearly 75 percent predicting it will significantly change their work in the next three years.
Most expect AI to require the training of new skills for employees, while many have expressed concerns regarding cybersecurity risks, misinformation and prejudice once morest certain groups of customers or employees.
“If we’re just looking at the same skills, I think yes, there will be an impact,” said Juergen Mueller, SAP’s chief technology officer, referring to the job losses and hiring freeze for junior tech positions. .
“So what you need is even better trained people,” Mueller told GMF in Davos.
The PwC survey also found that environmental concerns are putting more pressure on margins, with four in ten executives saying they have accepted lower returns for green investments.
Less than 50% reported progress including addressing climate risks in financial planning, and 31% said they had no plans to do so.
Overall, businesses were more confident regarding the global growth picture, with 38% optimistic regarding growth, more than double those surveyed in 2023.
However, they were also less optimistic regarding revenue growth over the next year, with 37 percent of them confident in their ability to grow revenue, compared to 42 percent in 2023.
photo: BiancoBlue | Dreamstime.com
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