Canadian CEO Insights for the Future

With a legacy spanning over a century, PwC is dedicated to empowering Canadian organizations to thrive in today's dynamic business landscape. Boasting a team of 7,700+ partners and staff across the nation, PwC brings a wealth of expertise and a collaborative spirit to address the most pressing challenges and opportunities facing businesses today.

At the recent 'Canadian CEO Insights for the Future: The Reinvention Imperative' event hosted by GVBOT, PwC shared valuable insights gleaned from their deep industry knowledge and global perspective. 

Throughout the event, attendees explored not only what Canadian and global CEOs are thinking, feeling and doing about the heightened urgency to change how they create, deliver and capture value but also what the recent 27th Annual Global CEO Survey - Canadian Insights, conducted by PwC, reveals about key opportunities to accelerate the pace of reinvention.

This year, the survey examined leaders' actions, the barriers they face in moving forward, and how they can overcome them. Furthermore, it focused on key opportunities to accelerate the pace of reinvention - the ability to adapt to forces of change disrupting businesses and society today. Here are some highlights from our event:

During the event, attendees were reminded of the growing urgency among global CEOs to reassess their business models. With a staggering 45% of CEOs worldwide questioning the viability of their organizations in a decade, the imperative for reinvention is undeniable. In response, an overwhelming 97% of global CEOs have already taken steps towards reinvention over the past five years, underscoring the widespread recognition of the need for change.

The survey's valuable insights provided a comprehensive overview of the current state of business sentiment. Despite improvements in overall pessimism, Canadian CEOs remain less optimistic than their global counterparts, with 55% expressing concerns about declining economic growth at home. Moreover, a significant proportion (32%) of Canadian CEOs fear that their businesses may not be viable in a decade without adaptation.

In response to the challenges highlighted, organizations are taking proactive measures to drive reinvention. From adopting generative AI to addressing climate change, there is a growing recognition of the need to adapt to evolving trends. Notably, Canadian CEOs are slightly ahead of the global curve in AI adoption, with 36% having already integrated the technology into their operations.

The event emphasized the challenges and opportunities associated with the reinvention journey. Concerns around cybersecurity and economic threats loom large, highlighting the need for vigilant risk management strategies. However, CEOs are forging ahead, with many investing in new technologies and forming strategic partnerships to enhance their capabilities and drive innovation.

Another key area highlighted is the urgent need to address climate change. Both Canadian and global CEOs are making strides towards improving energy efficiency and developing climate-friendly products and services. Despite perceived barriers, such as lower returns on climate-friendly investments, organizations are recognizing the long-term benefits of sustainability initiatives.

Insights from the event served as a call to action for business leaders to embrace the imperative of reinvention. By staying ahead of emerging trends, leveraging new technologies, and fostering a culture of innovation, organizations can position themselves for long-term success in an ever-evolving landscape.