愿景2026：CEO与投资者调研报告

CEO and Investor Outlook Survey 02 01 03 ExecutiveSummaryPage 4 Growth Outlook:MeasuredConfidencePage 5 ForewordPage 3 04 05 06 Scaling AIfor SuccessPage 14 AI: A (Work) ForceMultiplierPage 17 Globalization,RecalibratedPage 9 Contents 01Foreword Our annual CEO and investorreport captures the viewsof more than 350 globalCEOs and 400 institutionalinvestors representing morethan $19 trillion USD ofcompany and portfolio value. As we enter 2026, global CEOs are meeting the moment with measured optimism andsharpened realism. In an environment where the only constant is uncertainty, businesses –and their CEOs – have evolved to become resilient and adaptive by design. While 73% of CEOs expect the global economy to improve in the year ahead, confidence hascooled somewhat from the exuberance of December 2024. Bolstered by years of strategictransformation, organizations are better positioned to weather volatility and, crucially,advance the exponential potential of AI. With dynamic organizational resilience baked in,executives remain optimistic yet clear-eyed about higher capital costs, shifting policies andpersistent geopolitical tensions shaping markets – a sentiment reflected in our own dailyconversations with CEOs, board members and business leaders around the world. Ursula BurnsChairwomanTeneo AI innovation continues to be a top investment priority – 68% of CEOs are increasinginvestment, and 88% believe it is already helping them navigate disruption. But the clockis ticking, as investors start to demand real transformational change. For these leaders,disruption no longer signals risk – it signals opportunity. Paul KearyCEOTeneo We hope this report helps inform your strategy as you navigate another dynamic year ahead. Wishing you continued success in 2026. Executive Summary02 CEOs and investors predict2026 will be defined by steadyglobal growth, expandingopportunities in APAC anda robust AI economy. The Chase for AI ROI Cautious Confidence AI readiness is a near-universal priority for CEOs and investors, and afteryears of experimentation, CEOs have the confidence to double down(68% are increasing investment). With 73% of CEOs and 82% of investors expecting the global economy toimprove over the first six months of 2026, optimism is strong for economicgrowth, albeit tempered compared to last year. Nearly half of CEOs andinvestors are preparing to increase hiring and international and domesticinvestment in 2026. But as efforts shift from hype to execution, businesses are under pressureto show ROI from rising AI spend. Large-cap CEOs are seeing solid returnson current programs, particularly across administration, internal efficiencyand customer-facing applications. However, 84% of these CEOs predictthat positive returns from new AI initiatives will take longer than six monthsto achieve. In contrast, investors are pushing for faster impact: 53% expectpositive ROI in six months or less. Mid-cap CEOs are more bullish: 80% expect improvement over the first sixmonths of 2026, compared to just 31% of large-cap executives. The M&A outlook remains strong, with more than 75% of CEOs andinvestors expecting increased activity in 2026. However, both groups citehigher capital costs as the top barrier. AI: The Unexpected Workforce Dividend U.S. Leads, India Emerges, DeglobalizationContinues While AI will have an undeniable long-term impact on the future of jobs,most CEOs expect it to drive a near-term increase in hiring across alllevels in 2026. Businesses are reshaping their workforces to acceleratereturns on investment from an efficiency, cost and commercial perspective. The U.S. remains the world’s most attractive investment destination forCEOs who are undeterred by policy volatility and enticed by the prospect ofregulatory improvements by the Trump administration. AI enablement and upskilling will be top talent priorities, reflecting a balancedapproach to building automation and human capabilities. Eighty-sevenpercent of CEOs feel confident that their organizations are prepared forfuture technological disruption but predict that future leaders will struggle tokeep pace with tech advancements. They believe that agility and creativitywill be the most important traits for a new generation of CEOs. Eighty-two percent of CEOs and investors also see APAC as a top investmentpriority, with India on the rise. By 2036, CEOs expect India to surpass Chinain strategic importance, reflecting its dual role as a demand engine and talentpowerhouse. At the same time, nearly 60% of CEOs and investors anticipatethat deglobalization will accelerate in 2026. However, when asked whetherthese geopolitical shifts represent a temporary phenomenon or a long-termreordering of the post-war status quo, results were evenly split, reinforcingthat the only constant right now is uncertainty. Growth Outlook:Measured Confidence 03Growth Outlook: Measured Confidence Optimism Holds The global economic outlook for the first ha