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Posthaste: Canadian CEOs worry big changes are needed to stay viable

Feb 05, 2025 - financialpost.com
Canadian CEOs are increasingly concerned about the future viability of their businesses, with 35% worried about their companies' survival over the next decade without significant changes, according to a PwC survey. Despite this concern, Canadian executives lag behind their global counterparts in adopting new technologies and strategies, such as integrating AI into core business operations. While 46% of Canadian CEOs plan to incorporate AI, this is lower than the 58% globally. Additionally, only 20% of Canadian executives reported increased profitability from AI last year, despite higher expectations.

The survey highlights the need for Canadian businesses to adapt to global megatrends like geopolitical tensions and technological disruptions. PwC recommends that executives strengthen supply chains, consider mergers and acquisitions, and diversify their business strategies to navigate economic uncertainties. The report emphasizes the importance of embracing innovation and partnerships to enhance productivity and address trade challenges. Despite the challenges, Canadian CEOs remain resilient and are preparing for potential economic shifts, including changes in trade relationships and protectionist policies.

Key takeaways:

  • Canadian CEOs are increasingly concerned about their businesses' long-term viability, with 35% worried about lasting another 10 years without significant changes.
  • PwC recommends that executives shore up supply chains, make operational adjustments, and consider mergers and acquisitions to address economic uncertainties.
  • Canadian executives are lagging behind global counterparts in integrating AI into business strategies, with only 46% planning to do so compared to 58% globally.
  • Despite challenges, Canadian CEOs are optimistic about economic growth and are preparing to embrace AI, invest in new sectors, and reinvent their businesses.
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