Top global CEOs are increasingly turning to artificial intelligence (AI) to navigate the current economic uncertainties and drive future growth, according to the latest CEO Outlook report by KPMG. Amid global turbulence, including rising inflation and geopolitical tensions, over three-quarters of surveyed CEOs view AI as a key driver for transforming their business models and securing a competitive edge.
The report, which surveyed over 1,300 CEOs from various industries, highlights that more than 70% of leaders are prioritising AI investments. Many see it as essential for operational efficiency and enhancing customer experiences. However, they also acknowledge the risks involved, particularly around cybersecurity, with over half citing concerns about data security in their AI initiatives.
Interestingly, while AI is a central focus, CEOs are also grappling with broader economic challenges. Around 45% of the executives surveyed expect a global recession in the near future, with many adjusting their strategies accordingly by focusing on cost optimisation and workforce transformation. Despite these concerns, leaders remain optimistic about long-term growth, with over 80% confident in their company’s ability to adapt and thrive over the next three years.
This strategic shift towards AI comes at a time when companies are looking for ways to stay resilient in the face of volatile market conditions. By betting big on AI and balancing the risks, CEOs are hoping to future-proof their organisations and capitalise on emerging opportunities.
KPMG’s report highlights the evolving role of technology in shaping business strategies, with AI positioned as a cornerstone for future innovation and growth.
