Almost half of the world's chief executives said their company's business model will be unsustainable within 10 years due to the pace of technological advances such as AI and the impact of climate change, according to the survey.
A PricewaterhouseCoopers survey of 4,702 business leaders around the world found that 45% say their business could fail within 10 years if they don't adapt, up from 39% in 2023. did.
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PwC Global Chairman Bob Moritz announced the findings at the World Economic Forum in Davos, saying, “They are actually less optimistic about their company's earnings outlook than they were last year, and are seeing a fundamental shift in their business.'' “We are now more aware of the need for invention.” Switzerland. Moritz said business leaders are paying more attention to AI and climate change as inflation concerns ease.
Moritz added that countries need better infrastructure and clean energy to meet the surge in demand for AI. “Everyone's jumping on board with the bright, shiny new toys, but we still don't have enough computing power to actually run the world,” he said by phone. Economic growth is needed to drive investment in AI, and energy demand will continue to increase, he added.
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Business leaders are becoming less concerned about macroeconomic challenges, with more than a third of CEOs expecting their headcount to grow by 5% this year, the survey also found.
Speaking about his business, Moritz said PwC is trying to make “smarter” decisions around corporate travel to reduce emissions and lower costs. “When we travel, we're trying to make it more effective and efficient with how we travel,” Moritz says.