PwC: CEO-Led Reinvention Crucial for Energy Sector Growth
As AI, sustainability demands, and global shifts reshape the energy, utilities, and resources sector, PwC highlights increasing pressure on CEOs to drive reinvention.
Insights from the 28th Annual PwC Global CEO Survey
The survey reveals that leaders in the energy, utilities, and resources (EUR) sector acknowledge an urgent need to reinvent their strategies amid a rapidly changing global environment. Key drivers of change include accelerated AI adoption, intensifying sustainability requirements, and ongoing geopolitical tensions that are transforming value creation and maintenance.
Challenges and Opportunities Ahead
“The need for reinvention will be intensified by emerging challenges which, alongside risks, also bring new benefits and opportunities,” said Maxim Vykhovanets, Country Managing Partner and Energy, Utilities & Resources Leader at PwC Ukraine.
“These can significantly enhance productivity through automation, AI, 3D printing and other disruptive technologies. Further opportunities lie in improving sustainability and circularity in response to climate change.”
Strategic Decision-Making in a Capital-Intensive Industry
PwC notes that the fast pace of change demands quicker, more agile decision-making. However, in a sector characterized by long investment cycles, strategic decisions often need to be made years ahead. While some CEOs are leveraging generative AI and the shift to low-carbon solutions, others struggle with outdated processes and leadership approaches.
This gap risks causing stagnation at a time when reinvention is essential for success.
Key Focus Areas for CEOs
- Embracing disruptive technologies like AI, automation, and 3D printing
- Enhancing sustainability and circular business models
- Adapting leadership mindsets for faster, forward-looking strategic decisions
Author's summary: CEOs in the energy sector must urgently reinvent strategies by embracing AI, sustainability, and agile leadership to thrive amid rapid global changes.