Global CEOs Foresee Their Business Models Becoming Outdated Fast

A PricewaterhouseCoopers (PwC) survey reveals that nearly half of global CEOs foresee their business models becoming unsustainable in a decade.

This concern stems from the rapid progress in technology like AI and the growing pressures of climate change.

The survey, encompassing opinions from 4,702 business leaders worldwide, shows a 6% increase in this sentiment compared to 2023.

Bob Moritz, PwC’s Global Chairman, highlighted these insights at the World Economic Forum in Davos.

He noted a shift in focus among business leaders. While inflation concerns are receding, AI and climate change are becoming primary focuses.

Moritz emphasized the need for better infrastructure and clean energy to keep up with AI’s increasing demands.

He commented on the current lack of sufficient computing power and the necessity of economic growth to foster AI development.

This, in turn, will lead to a surge in energy demand. The survey also revealed a shift in concerns among CEOs.

They are now less worried about macroeconomic issues and more about adapting to technological and environmental changes.

Additionally, a significant number of CEOs anticipate workforce expansion, with over a third expecting at least a 5% increase this year.

Moritz also discussed PwC’s internal strategies, particularly in reducing emissions and costs through smarter travel decisions.

This approach aims for more efficiency in corporate travel, reflecting a broader trend of businesses becoming increasingly conscious of their environmental impact.

In conclusion, the PwC survey underscores a pivotal moment for businesses worldwide.

Leaders are preparing for a future shaped by AI advancements and climate change challenges.

These findings indicate a pressing need for businesses to adapt and innovate to remain viable in a rapidly evolving global landscape.