The U.K.’s CEOs are incorporating generative AI technology more swiftly than many of their peers in the U.S., China, and Europe.
The finding comes from PwC’s 27th Annual Global CEO Survey, which included responses from 4,702 CEOs across 105 countries, revealing that the U.K.’s position in GenAI adoption surpasses many European countries, and even the U.S. and China.
It’s reported that 42% of the U.K.’s CEOs have adopted generative AI, compared with 32% of CEOs globally. Notably, 38% of U.S. CEOs and 25% of China’s CEOs have done the same. Showing more apprehension, only 9% of German CEOs and 20% of French CEOs said they have implemented the technology in the last year.
According to PwC’s report, “The only countries that have adopted GenAI faster than the U.K. are Japan, where 50% of CEOs say they have done so, along with Norway (53%) and Finland (49%).”
Contrary to the common fear that AI adoption might lead to massive job losses, the survey suggests a more positive outlook for employment in the U.K. PwC reports that 48% U.K. CEOs said they’ll increase their workforce by 5% or more this year. This suggests that GenAI adoption is complementing rather than replacing individuals in the workforce.
The data also suggests that despite showing less confidence in the domestic economy, U.K. CEOs optimism has increased. This optimism is reflected in CEOs’ investment plans, with over half of the CEOs planning major acquisitions in the next three years, according to the survey.
The U.K.’s commitment to addressing climate change remains strong as well, with 85% of CEOs saying they have “either begun or completed steps to improve energy efficiency.” In comparison, 75% of CEOs globally have stated the same.
