Respondents to a poll released Tuesday and conducted on the sidelines of the World Economic Forum in Davos said they were more likely to accelerate rather than slow or halt investment in response to geopolitical and trade policy developments.
About 58% expect artificial intelligence (AI) to drive business expansion over the next two years, and about one-third believe it will fundamentally reshape operations.
EY surveyed 1,200 CEOs from large companies in 21 countries from November to December 2025. Nearly all companies have started or plan to embark on significant transformation initiatives this year, according to the report.
“Today’s most successful CEOs have confidence in their ability to operate in the face of uncertainty, and they take bold action to quickly adopt new technologies, foster confident collaboration, and gain competitive advantage,” Janet Trancheil, global chair and CEO of EY, said in a statement. “Business leaders must be decisive and intentional by scaling innovation, investing in people, and working closely together within their organizations and across industries to create new value.”
The report, presented on the first full day of a meeting of the world’s business elites in Davos, follows new forecasts from the International Monetary Fund, which raised its outlook for global economic growth and pointed to a surge in AI spending, particularly in North America and Asia, as a key driver.
The fund also warned that the world could be plunged into a “sudden” market downturn if new technologies fail to improve productivity.
According to EY, survey respondents increasingly see AI as a “trusted enabler” of productivity, revenue growth and efficiency. More than two-thirds expect to maintain current employment levels or hire new talent over the next year as they invest in AI.
Many business leaders are also making acquisitions to accelerate their transformation efforts, productivity and digitalization, according to the report. While geopolitical surveillance is reshaping trading strategies, investment appetite remains strong, with around 79% of respondents planning initiatives in 2026, EY said.
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