KPMG’s 2026 Global CEO Outlook finds that 31 percent of surveyed chief executives name cyber and data security the greatest risk to growth over the next three years — ahead of global economic uncertainty (28 percent) and geopolitical instability and regulatory pressures (26 percent). At the same time, 79 percent agree that AI remains a top investment priority over the next three years, up from 71 percent in 2025.
The twelfth edition of the survey was released in a KPMG International press release dated London, 15 October 2026. Fieldwork ran from 11 August to 21 September 2026 among 1,400 CEOs at companies with annual revenue over US$500 million (a third over US$10 billion), across 12 markets and 13 sectors.
These are KPMG’s survey figures for large-company CEOs. They are not universal facts about all businesses.
Investment follows the risks leaders say they can influence
Almost half of CEOs — 45 percent — say they have increased investment in cybersecurity and digital risk resilience. On the regulatory side, 26 percent called regulatory pressures the most significant challenge to growth, and 36 percent said they were investing in regulatory and compliance reporting to mitigate business risks over the next three years.
Gary Wingrove, KPMG’s global chairman and CEO, said leaders are “investing in technology, strengthening workforce capabilities and positioning their organizations for long-term growth” amid cyber risks, regulatory pressure, AI’s impact on work, economic uncertainty and geopolitical instability.
AI: priority up, ethics the top implementation hurdle
Despite economic uncertainty, the 79 percent AI-priority figure is the survey’s clearest technology signal. Implementation is not smooth: ethical challenges lead the list of AI implementation difficulties (57 percent), followed by cybersecurity (52 percent) and cost (51 percent).
On regulation, 41 percent say varying levels of AI rules are a barrier to implementing AI, and 66 percent expect the pace of progress on AI regulation to pose a barrier to organisational success. Over half — 59 percent — say they are applying greater focus on internal data governance and controls as part of AI and data-sovereignty strategies.
Self-assessment is upbeat relative to the hurdles: 66 percent say they are moving at the right pace or ahead on AI; 29 percent are cautiously optimistic and learning as they go; only five percent say they are struggling to keep pace.
Return expectations have lengthened slightly: 14 percent expect AI returns within six to 12 months (down from 19 percent), while 71 percent expect them within one to three years (up from 67 percent).
Workforce: skills gaps first, resistance down the list
Skills gaps (not exclusively AI-related) are the top workforce challenge (56 percent), ahead of upskilling/training employees in AI systems (52 percent) and attracting/retaining talent (47 percent). Workforce resistance to AI sits at 26 percent, bottom of 13 challenges — down from 33 percent last year who cited employee reluctance or ability to adopt AI, per KPMG’s year-on-year note.
CEOs also say their own skill sets must change: greater agility and faster decision-making under pressure tops leadership capabilities needed (47 percent), with large year-on-year jumps in demand for strategic foresight/scenario planning and risk identification. 36 percent say digital and tech literacy is becoming an essential leadership capability.
What this post does not use
The research brief instructs TSN not to use an “89 percent expect headcount to increase” figure that appears in other KPMG packaging / Axios US cuts but not in this global press release. This draft also does not mix figures from the separate KPMG US CEO Outlook. Stick to the global release above.
Why it matters
CEO surveys are sentiment instruments, not ground truth — a point TSN has made when dissecting inflated AI adoption statistics (“The 88% Lie”) and when reading jobs data against hype. What this Outlook usefully shows is that among large-firm CEOs, cyber has climbed to the top named growth risk while AI investment intent rose year over year, with ethics and fragmented regulation as the friction. That framing matters for vendors, boards and policymakers more than any single percentage point.
Caveats
Survey of CEOs at firms above US$500 million revenue in 12 markets — not SMEs, not all countries. Self-reported priorities and self-assessed “pace” on AI. Rounding means some totals will not equal 100 percent, KPMG notes.
What to watch next
- Whether next year’s Outlook still ranks cyber first if major breaches shift
- How the 41%/66% regulation-barrier answers evolve as AI Act and US state rules settle
- Sector cuts in the full report (not reproduced here beyond the release)
Sources
- KPMG International press release, “CEOs make cybersecurity top investment priority after naming it greatest risk to growth” (2026 Global CEO Outlook), London, 15 October 2026. https://kpmg.com/xx/en/media/press-releases/2026/10/ceo-make-cybersecurity-top-investment-priority.html
Related stories
- AI and Jobs: What a UK Survey, a French Study and One Layoff Actually Show
- The 88% Lie: Why AI Adoption Numbers Are Misleading
- AI Money and Mood: Agents and Voices Draw Cash While the Public Wants Tighter Rules
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