Less than a third of CEOs polled in a recent PWC survey said their companies have generated additional revenue from AI, and only a quarter have realized cost savings from it. Most companies that reduced costs saw little increase in revenue, and for many, increased revenue from AI use also led to higher costs.

The Global CEO Survey from PWC polled 4,454 CEOs from 95 countries and territories, with a particular focus on AI and its effects on business. Across all polled industries, only 30% of CEOs reported increased revenue from AI in recent months. That's a step up from the 5% of companies that reported benefits from AI in an October Boston Consulting Survey, but with close to a third of those companies also seeing increased costs, the impact may be limited.

Over the past year, we've seen many companies enact large-scale layoffs, often under the cover of AI-driven efficiency savings. In the PWC survey, only 26% of companies reported cost savings from AI, while the majority said revenue decreased or remained unchanged. Only 12% of polled CEOs said their companies had both increased revenue and reduced costs through AI.

This leaves 56% of all polled CEOs saying they have seen zero revenue growth or cost reduction from using AI.

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(Credit: PWC)

These companies are using AI in different ways, though. Around 22% are using it to increase demand for their products, while 20% have employed it as part of their customer service system. Intriguingly, 15% appear to be using it in the design space by leveraging it for "direction setting." That sounds like CEOs trying to replace themselves with AI, if anything.

Despite the lackluster returns to date, around 69% of CEOs said generative AI will require most of their workforces to learn new skills over the next few years. However, less than half say they have a clear plan in place to enable this.

The numbers paint a picture of CEOs looking to keep up with AI, mainly to remain relevant. If that isn't indicative of the global AI vibe among major companies, I don't know what is.