Five priorities for your reinvention agenda

PwC’s 27th Annual Global CEO Survey

This year’s survey suggests companies recognise the urgency to reinvent and are taking steps towards change.

As climate change, generative AI, and a range of other threats and opportunities converge, Financial Services (FS) CEOs must accelerate their efforts to examine and evolve their business models in order to deliver sustained outcomes for stakeholders and society. Here are five priorities for your reinvention agenda.

Globally, 97% of CEOs report they’ve taken some steps to reinvent in the last five years. But translating actions to results is challenging. Despite their efforts, 40% of FS CEOs say they’re not confident their business will be economically viable in a decade if they stay on their current path.

In the next year, a significant share of FS CEOs expect generative AI to increase efficiency in employees’ time at work (65%) and improve the quality of their company’s products or services (59%), among other benefits. But they’re also concerned that generative AI will increase cybersecurity risk and bias, and pose other challenges. As you explore generative AI’s bright potential, don’t forget to dedicate serious and consistent attention to its potential pitfalls.