Based on PwC’s 27th Annual Global CEO Survey, which covered 4,702 CEOs from 105 countries, almost all or 97 percent of CEOs in the Philippines have taken steps to change the way they create, deliver and capture value in the past five years.
Despite actions being taken, 71 percent said the lack of workforce skills poses a challenge to reinventing the company’s business model. The survey also found that at least 60 percent of Philippine-based CEOs expect to see the impacts of generative artificial intelligence within three years on the workforce.
But while CEOs in the country expect benefits from GenAI, 80 percent said this would require workforce upskilling.As for the progress in commitments to climate action, 75 percent of CEOs in the country said they have started or completed steps to improve energy efficiency, while 74 percent report having made similar strides in new, climate-friendly products, services or technologies.
“The impetus to reinvent is intensifying. Many of our country’s business leaders are now working on accelerating the transformation of their business models, investing in technology and their workforce and managing the risks and opportunities related to climate change. In this era of continuous reinvention, CEOs have vast opportunities to reshape their organizations and themselves, to thrive on disruption and transform aspirations into realities,” Danao said.