Firms Yet to Gain Returns on AI: PwC Survey

Corporate investments in artificial intelligence are rising sharply, but most companies are yet to see meaningful payoffs.

According to the latest PwC global CEO survey, 56% of companies have realised neither revenue growth nor cost reductions from AI investments.

Although nearly a third (30%) reported higher revenues linked to AI over the past year and 26% cited lower costs, the overall return on investment remains elusive.

Despite this, CEOs remain uneasy about the pace of change, with many questioning whether their businesses are transforming quickly enough to keep up with rapid technological advances.

The survey also highlights growing strategic uncertainty. Only 30% of CEOs said they are very or extremely confident about revenue growth over the next 12 months, down from 38% last year and well below the 56% peak recorded in 2022.

In response, companies are increasingly looking beyond their core sectors for growth. More than 40% have entered new industries in the past five years, and four in ten CEOs planning major acquisitions expect to target businesses outside their traditional sectors.

External pressures are also weighing on sentiment. Nearly 29% of CEOs expect tariffs to dent profit margins over the next year, while trust-related concerns have emerged as a significant risk, with two-thirds reporting issues affecting at least one area of operations.