15 | PwC’s 21st CEO Survey In fact, it’s striking what doesn’t top the The one exception is technology-related regarding terrorism has more than doubled, What is AI? It’s making decisions global list of concerns. Comparatively few developments (e.g., ‘cyber threats,’ ‘speed and ‘extreme concern’ about the lack of trust based on very large amounts of data. CEOs highlight ‘potential ethical scandals’ of technological change’, and ‘availability of in business has plunged by nearly 50%. I’ve been hearing about AI for 30 as a threat – despite the growing number of key skills’), where we see anxiety about the years…but it was always a future firms that have suffered reputational damage impending promise and perils of artificial In Western Europe, populism (42%) is the promise. What’s different now? First, in the past year because of ethical lapses.7 intelligence (AI) taking hold. AI is no longer chief ‘extreme concern’, followed by over- the underlying compute capability Globally, despite Brexit, CEOs are not overly the stuff of science fiction movies; it is here, regulation (35%), geopolitical uncertainty is so much faster, meaning systems concerned about the ‘future of the Eurozone’, and it is real. We at PwC project that AI will (34%), cyber threats (33%), and terrorism with fewer than one in five CEOs ranking it contribute an additional US$15.7 trillion to (32%). Again, over-regulation is displaced can crunch through a deluge of data as an ‘extreme concern’. This is true even in global GDP by 2030, an increase of 14%.8 That at the top by the populist political trend almost instantaneously. Two, the Western Europe – in fact, Western Europe boon to the overall economy, however, will sweeping Europe. This year Western Europe’s ability through software to manage and saw the biggest drop in ‘extreme concern’ come at great cost to those who cannot rise to ‘extreme concern’ about climate change more analyse that data is so much better. Do regarding the ‘future of the Eurozone’, from its challenges in time. than doubled. you remember the days when position- 28% to 19%. It seems fears of the Eurozone Asia-Pacific chief executives cite availability sensing elevator technology came at breaking up have subsided with more positive Ironically, North America – the bastion of an exorbitant price? It cost millions to economic numbers in the past year and bullishness – reports high levels of ‘extreme of key skills (52%), speed of technological put that in your building. Now, your supportive monetary policy. concern’ regarding its chief threats. Leading change (51%), terrorism (48%), cyber threats smartphone can tell what floor you’re the list are cyber threats (53%), then over- (44%), and over-regulation (42%) as their on. Your Waze app measures not only CEOs are also not particularly agitated regulation (50%), geopolitical uncertainty greatest worries. But Asia-Pacific CEOs are how fast your car is traveling, and about activist investors, rising employee (44%), terrorism (43%), and speed of worried about everything – at least 20% are benefit and pension costs, access to affordable technological change (34%). For the first ‘extremely concerned’ about every threat on where the other cars are around you, capital, volatile energy costs, or their own time, over-regulation is displaced as the top the list. but your acceleration and deceleration. readiness to respond to a crisis. Again, they threat in North America (see Exhibit 8). Your watch knows your heart rate. All are more troubled by larger societal and Meanwhile, the level of ‘extreme concern’ of this data is being instantly rendered geopolitical shifts than by the dynamics in useable and actionable. their own market. Saˆra ‰Š at‹ E­ ­racle