CEOs are fed up with poor returns on investment from AI: Enterprises are struggling to even 'move beyond pilots' and 56% say the technology has delivered zero cost or revenue improvements

CEOs are distinctly dubious about AI, with most saying they've seen no major financial benefits from the technology despite huge investment.

According to PwC’s Global CEO Survey, just one-in-eight CEOs said AI has delivered both cost and revenue benefits, with a third reporting gains in one or the other.

More than half (56%) said they’ve seen no significant financial benefit so far.

Looking ahead, the prospects aren’t much better, the survey found. Only 30% of CEOs are confident about revenue growth in 2026 as many struggle to turn AI investment into tangible returns.

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CEOs are also questioning whether they are transforming fast enough to keep pace with technological change, including AI adoption – this was cited as a top concern for 42%.

More than eight-in-ten are investing in areas such as cloud, AI, and data analytics this year, with a clear focus on transformative outcomes.

However, 18% said they believed their business was highly or extremely exposed to significant financial loss relating to tech disruption.

Some enterprises report progress

There are some silver linings for business leaders, PwC found, but only among those who’ve put in the preparatory work ahead of lavish investment schemes.

According to the survey, CEOs whose organisations have established strong “AI foundations” – such as Responsible AI frameworks and technology environments that enable enterprise-wide integration –were three times more likely to report meaningful financial returns.

"ChatGPT was just suddenly there and people could use it on a consumer basis, and everybody thought, ‘this is easy’. But challenges then emerged around how you use it on an organizational scale for bespoke business models," commented one respondent.

Separate analysis from PwC found that companies applying AI to products, services, and customer experiences achieved nearly four percentage points higher profit margins than those that did not.

“2026 is shaping up as a decisive year for AI. A small group of companies are already turning AI into measurable financial returns, while many others are still struggling to move beyond pilots," said Mohamed Kande, PwC global chairman.

"That gap is starting to show up in confidence and competitiveness – and it will widen quickly for those that don’t act.”

ROI woes are a recurring theme

Disappointment with AI has become a recurring talking point among enterprise leaders over the last three years. Analysis from Gartner, for example, shows the technology is currently in its "Trough of Disillusionment" stage of the hype cycle.

This is defined as a period where “interest wanes as experiments and implementations fail to deliver”. Gartner specifically highlighted poor returns on investment as a cause.

Getting AI projects off the ground in the first place is no easy task. Research from MIT aligns closely with PwC’s findings that simply moving beyond pilot schemes has become an acute pain point.

Researchers found that 95% of organizations reported zero return on their investment in generative AI projects last year.

“In the near term, CEOs are rightly focused on improving efficiency, resilience and cost control. But the longer-term prize is growth and competitive advantage," said Umang Paw, chief technology officer at PwC UK.

"That requires scaling AI beyond pilots and embedding it into how organizations operate and deliver value. Those who succeed will be the ones who combine disciplined execution with a clear ambition.”

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