For private banks and wealth managers, the findings are a reminder that identifying the use cases for AI is not the same as putting ideas into profitable action.

A global PwC survey of chief executives finds that AI plays a major part in separating fast revenue growth from the slow movers, at least for now. The survey is based on responses from 4,454 CEOs across 95 countries and territories.

Despite widespread experimentation, only one-in-eight (12 per cent) CEOs say that AI has delivered both cost and revenue benefits, according to the PwC 2026 Global CEO Survey. Overall, 33 per cent report gains in either cost or revenue, while 56 per cent say they have seen no significant financial benefit to date. Only 30 per cent of CEOs are confident about revenue growth in 2026 as most struggle to turn AI investment into tangible returns.

“The findings suggest that as CEOs navigate a complex operating environment shaped by rapid technological change, geopolitical uncertainty, and economic pressure, many companies have yet to translate investment into consistent financial gains,” the report’s authors said.

The use cases for AI in wealth management and private banking is still a busy talking point in the sector, and the views of other business sectors also help shape conversations – and action. This news service continues to cover the theme, see more here and here.

Minority so far
A minority of CEOs say that AI has delivered both cost and revenue benefits, while companies that have scaled AI with strong foundations are pulling ahead. Rising concerns about tariffs and cyber risk add to pressure, as CEOs question whether they are transforming fast enough, the report said. 

The report said “the biggest question” on CEOs’ minds is whether they are transforming fast enough to keep pace with technological change, including AI. Some 42 per cent cite this as their top concern – well ahead of worries about innovation capability or medium to long-term viability (both 29 per cent).

“2026 is shaping up as a decisive year for AI. A small group of companies are already turning AI into measurable financial returns, while many others are still struggling to move beyond pilots,” Mohamed Kande, PwC global chairman, said. “That gap is starting to show up in confidence and competitiveness – and it will widen quickly for those that don’t act.”

External risks
CEO confidence has softened further amid rising exposure to external risks. One-in-five CEOs globally (20 per cent) say their organisation is highly or extremely exposed to the risk of significant financial loss from tariffs over the next 12 months, though exposure varies widely by region – from 6 per cent across the Middle East to 28 per cent in the Chinese mainland and 35 per cent in Mexico. Among US CEOs, 22 per cent report high exposure.

Concern about cyber risk has risen sharply, with 31 per cent of CEOs now citing it as a major threat – up from 24 per cent last year and 21 per cent two years ago. In response, 84 per cent say they plan to strengthen enterprise-wide cybersecurity as part of their response to geopolitical risk.

Concerns about macroeconomic volatility (31 per cent), technology disruption (24 per cent), and geopolitics (23 per cent) have also edged higher, while concern about inflation is marginally down (from 27 per cent last year to 25 per cent).

The report found that CEOs increasingly see reinvention as essential to growth. More than four in 10 (42 per cent) say their company has begun competing in new sectors over the past five years. Among those planning major acquisitions, 44 per cent expect to invest outside their current industry, with technology being the most attractive adjacent sector.

A little over half of CEOs (51 per cent) plan to make international investments in the year ahead. The US remains the top destination, with 35 per cent ranking it among their top three markets. The UK and Germany (both 13 per cent) and the Chinese Mainland (11 per cent) also feature prominently. Interest in India has nearly doubled year-on-year, with 13 per cent of CEOs planning international investment placing it among their top three destinations.

In general, CEOs are less upbeat about revenue growth than they were in the 2025 iteration of its CEO survey. Only three-in-10 (30 per cent) CEOs say they are confident about revenue growth over the next 12 months – down from 38 per cent in 2025 and 56 per cent in 2022.