PwC Chairman: 56% of Companies Miss AI Benefits by Overlooking Basics
In a rapidly changing landscape, global business leaders face unprecedented challenges. Mohamed Kande, the global chairman of PwC, highlighted that the role of CEOs has evolved significantly over the past year. He described a new “tri-modal” mandate, urging executives to operate current businesses, innovate in real-time, and develop future business models simultaneously.
AI Benefits Overlooked by Majority of Companies
Kande shared insights during a conversation at the World Economic Forum in Davos, Switzerland. His remarks were informed by PwC’s recent CEO survey, which revealed a concerning trend. Despite enthusiasm for artificial intelligence (AI), a significant portion of companies are failing to realize its benefits.
Key Findings from PwC’s CEO Survey
- The survey included responses from 4,454 CEOs across 95 countries.
- Only 10% to 12% of companies reported tangible benefits from AI in terms of revenue or cost savings.
- A staggering 56% of organizations claimed to gain “nothing” from AI adoption.
The findings mirrored an MIT study revealing that 95% of generative AI projects fail in the corporate sector. Kande attributed these statistics not to technology itself but to a lack of foundational practices. In his view, many organizations have neglected essentials such as clean data and structured governance in their rush to adopt new technologies.
Challenges Facing Business Leaders
Amidst these hurdles, Kande noted a paradox in business sentiment. While many CEOs express optimism about the global economy, only 30% feel confident about their company’s growth. This discrepancy suggests underlying issues influenced by geopolitics, tariffs, and evolving technology.
Decline in CEO Confidence
PwC’s survey indicated a decline in CEO confidence regarding revenue growth:
- Confidence dropped from 38% in 2025 to 30% in the latest survey.
- This marked a five-year low in expectations for revenue growth.
Kande emphasized the need for rapid adaptation in business strategies. The evolving nature of work means that traditional career paths are being redefined. The apprenticeship model, once a standard for entry-level employees, is being disrupted by AI’s capability to handle basic tasks.
Looking Ahead: The Future of Innovation
Kande encouraged executives to draw lessons from the past 50 to 100 years, citing industrial shifts such as the railroad and internet booms. He sees the ongoing investments in AI as paving the way for the next era of innovation.
- Companies diversifying into new sectors tend to report higher profit margins.
- Escalating CEO confidence correlates with successful adaptation to emerging technologies.
Ultimately, Kande advocates for an optimistic approach to these changes. He believes that understanding and adaptation will be crucial for leaders confronting uncertainty in the business landscape. “Embrace change,” he stated, underscoring the importance of continuous learning as a strategy to navigate the complexities posed by AI and other transformative forces in the market.
