DAVOS, Switzerland, Jan 21, 2026, 08:20 CET
- PwC reported that just 30% of CEOs anticipate revenue growth in the coming 12 months
- 56% report they have yet to see any significant financial returns from their AI investments
- India sits tied for second place with the UK and Germany in CEOs’ cross-border investment plans
Chief executives’ confidence in short-term revenue growth has dropped to a five-year low, PwC reported in its 2026 Global CEO Survey. The survey, unveiled at the World Economic Forum in Davos, highlights companies’ ongoing challenges in converting AI investments into steady financial gains.
The timing is crucial. At Davos, global companies size up risks and make calls on funding, hiring, and expansion plans. Meanwhile, policymakers advance their agendas in those same hallways.
The survey arrives amid a shift in how executives are reshaping investment strategies globally, as capital, technology, and talent flow simultaneously—often outpacing the speed of corporate operating models, according to a World Economic Forum note linked to the PwC research.
India has surged to a joint second spot among preferred destinations for cross-border investment—trailing only the United States and tied with Britain and Germany, according to a PwC survey cited by the Economic Times. PwC India chairperson Sanjeev Krishan attributed this rise to growing “confidence” in India’s economic fundamentals, as noted in the report. The Economic Times
The Times of India reported that a PwC survey highlighted reforms like the Goods and Services Tax (GST), a national sales tax, and production-linked incentive schemes (PLI), which reward companies for local manufacturing, as key drivers of India’s investment appeal. The survey also found just 11% of Indian CEOs see tariffs as a growth risk, despite U.S. trade policies affecting certain export sectors.
Worldwide, concern over policy risk has worsened. According to Reuters from Davos, one in five CEOs identified their companies as highly vulnerable to losses from trade tariffs — import taxes that can drive up costs or reduce demand. Around a third also named cyber risk as a significant threat.
PwC’s data reveals a divide between companies benefiting from AI and those falling behind. The majority of CEOs say AI hasn’t yet produced clear cost savings or revenue boosts. A smaller faction, however, reports actual returns. PwC’s global chairman Mohamed Kande cautioned that companies still caught in pilot phases risk falling further behind, Business Insider reported, referencing the survey and PwC’s analysis.
Kande didn’t mince words on why so many companies are getting “nothing” from AI, blaming poor fundamentals like data quality and operational basics. “This is one of the most testing moments for leaders,” he told the Economic Times, adding, “I’ve not seen that in 25 years.” The Economic Times
In India, PwC’s country report revealed 66% of CEOs are concerned about keeping up with AI, while 41% believe their current AI investments fall short of company goals. Tata Steel CEO T.V. Narendran emphasized, “The question is not if but how we leverage AI,” highlighting a “reverse mentoring” approach where younger employees guide senior leaders. Meanwhile, Delhivery co-founder and CTO Kapil Bharati said the company is “exploring opportunities” in related fields like financial services. PwC
Still, the survey captures sentiment at a moment in time, not a fixed prediction. Should tariffs expand, a significant cyberattack disrupt supply chains, or AI rules clamp down, boards might scale back investments — turning the confidence gap between early AI adopters and laggards into a lasting divide.
