The nation’s leading executives express optimism regarding economic recovery and their companies’ prospects, yet they worry about falling behind in AI development and adoption.
PricewaterhouseCoopers’ (PwC) annual chief executive survey polled 4,454 CEOs across 95 countries and territories from September 30 to November 10, including 103 from New Zealand.
According to the survey, 58% anticipate stronger economic growth over the next year—slightly down from last year—compared to a global figure of 55%.
37% expressed “very or extremely confident” views on their company’s revenue prospects this year, climbing to 54% for the three-year outlook ahead.
“Unlike many of their global peers, they have been less impacted by geopolitical issues and are poised to take advantage of better operating conditions,” PwC New Zealand chief executive Andrew Holmes said.
New Zealand’s small economy and geographic isolation explain its muted exposure and concern over global issues.
Holmes identified artificial intelligence as the top concern for chief executives, particularly the fear of failing to keep pace with its rapid developments.
“It’s being left behind with outdated business models, unable to take advantage of new technology, specifically AI.”
More than half of local respondents named this as their primary concern, though nearly two-thirds reported their organisations were AI-ready, with 70% confident in their technology’s support for it.
However, Holmes said, “Over 78% have yet to see AI have any impact on their organisation, and only a minority are reaping any benefits from AI to their bottom line.”
On most polled issues, New Zealand responses mirrored the global survey, but cybersecurity and climate change emerged as notable weak spots.
“Only a third of New Zealand respondents [are] expecting their companies to take action to a significant extent to improve cybersecurity as a response to geopolitical risk in the next three years.
“Climate resilience is another weak spot, with fewer than a quarter of respondents, in New Zealand and globally, reporting robust measures to manage climate-related risks while seizing associated opportunities.”