Despite geopolitical uncertainty, a global economic slowdown and rapid technological change, CEOs remain firmly focused on growing their businesses. According to the latest edition of the global EY-Parthenon CEO Outlook Survey, which surveyed 1,200 CEOs across 21 countries, growth is increasingly being driven organically, with the adoption of artificial intelligence (AI) boosting productivity. The challenge for business leaders now is to turn these gains into measurable business value through targeted decisions.
Half (50%) of the CEOs surveyed say artificial intelligence was the most important driver of productivity gains in their organisations over the past 12 months, followed by the redesign of business processes (46%). Meanwhile, nearly half (48%) are reinvesting the time and resources freed up by AI in innovation and transformation initiatives.
The focus is now shifting to value creation. Although CEOs recognise tangible operational benefits from using artificial intelligence, many organisations are struggling to translate them into growth and profitability. Legacy systems, complex organisational structures and regulatory requirements are limiting the technology’s impact, with 23% of executives surveyed saying AI benefits are being channelled towards other existing needs before they are reflected in financial results.
The ROI challenge
According to the EY survey, measuring the impact of AI investments is proving challenging. Just 16% of respondents have a clear, real-time view of their return on investment (ROI), while 24% say that, although they track some of the costs, they struggle to assess overall ROI.
Most CEOs see AI more as a force reshaping work than as a means of reducing headcount. Four in five respondents (80%) expect AI to have a greater impact on roles, skills and ways of working than on the number of employees over the next three years.
Workforce readiness, however, is emerging as a significant challenge. 72% of the CEOs surveyed believe that skills shortages will be a bigger barrier to growth than access to capital over the next three years. Already, nearly half of the CEOs surveyed (47%) say that the development of AI skills among their organisation’s people is not keeping pace with technological advances. Yet just 15% of respondents say that the overall gains from increased productivity are being reinvested in workforce development.
Portfolio strategy
Although growth remains a priority, CEOs are taking a more considered approach to achieving it. Rather than relying on a single strategy, they are combining innovation, partnerships, acquisitions and divestments, seeking to build new capabilities, deploy capital effectively and limit risk. As a result, nearly seven in 10 say they are focusing more on strengthening their existing business than on rapidly expanding into new markets.
Almost all CEOs (96%) plan some form of transaction in the next 12 months, with 51% considering acquisitions, 60% strategic alliances and 47% joint ventures. Meanwhile, more than half (51%) plan to make a divestment in the coming year (+9% from May 2026).
Commenting on the survey findings, Tasos Iosifidis, Partner at EY Greece and Head of EY-Parthenon in Greece, said: “Artificial intelligence is already delivering significant productivity gains, but the major challenge for CEOs is to turn these gains into measurable business value and, ultimately, a competitive advantage. This requires transforming operating models and managing portfolios with discipline through acquisitions, partnerships and divestments. Businesses that integrate the use of AI, workforce reskilling, capital allocation and portfolio optimisation into a single transformation agenda are expected to be the ones that create value and ultimately stand out”.