EY-Parthenon CEO Outlook Survey

The latest EY-Parthenon CEO Outlook Survey highlights a clear shift in how global CEOs are navigating uncertainty. While confidence has softened amid geopolitical and economic pressures, leadership teams remain firmly focused on growth by doubling down on AI adoption, transformation initiatives, and strategic investments.

CEO confidence moderates as uncertainty rises

The CEO Confidence Index declined to 78.5 in Q4 2025, down from 83.0 in Q3 2025, reflecting growing caution across global markets. Ongoing geopolitical tensions, supply-chain disruptions, rising input costs, and slower economic momentum in key regions continue to weigh on sentiment.

Optimism at the company level remains intact

Despite macro challenges, business leaders remain constructive about the road ahead.

9 in 10 CEOs expect revenue growth and higher profitability in 2026.

61 percent anticipate higher operating costs, with productivity improvements expected to offset pressures.

Internal levers take priority

Rather than relying solely on external growth, CEOs are sharpening focus on internal performance drivers.

40 percent are prioritizing customer engagement and retention.

37 percent are investing in product and process innovation to improve efficiency and differentiation.

Investment strategies diverge

CEO responses to geopolitical and trade disruptions vary.

40 percent plan to accelerate investments to adapt to change.

31 percent expect to delay investment decisions.

10 percent intend to pause investments altogether, reflecting heightened risk sensitivity.

AI moves from promise to execution

Artificial intelligence remains central to future growth strategies.

58 percent of CEOs expect AI to be a major growth engine over the next two years.

32 percent believe AI will fundamentally reshape operations once scaled enterprise-wide.

However, only 20 percent say AI investments have significantly exceeded expectations so far, underscoring execution and scaling challenges.

Transformation momentum builds

Large-scale transformation is no longer optional.

52 percent of organizations have already begun major transformation initiatives.

45 percent plan to launch significant transformation programs in 2026.

The CEO playbook

Across sectors, leaders are aligned on the approach required in uncertain times. Act decisively, scale innovation, invest in talent, and collaborate across teams and industries to unlock long-term value.