PwC’s Global NextGen Survey 2024


According to PwC, by dynamically fusing leadership transition and generative AI, family enterprises create opportunities for the next generation.

PwC’s NextGen survey shows remarkable alignment with the sentiment of global chief executives regarding the transformative powers of generative AI. According to the 2024 PwC Global CEO Survey, 70% of business leaders believe that generative AI will significantly change the way their business creates, delivers and captures value. The survey also shows broad acknowledgment of the importance of developing an “early days” generative AI strategy to get ahead of an accelerating existential crisis. Fully half of all bosses of privately owned companies—of which family businesses are an important subset—say that their company will cease to be viable within ten years if they stay on the current path.

We cannot afford for family businesses to ignore this transition. Family businesses are a substantial part of the economy, contributing approximately 70% of global GDP and employing 60% of the world’s workforce. Thus, harnessing the potential of generative AI isn’t only about any one firm staying competitive; it’s about shaping the global economic landscape. NextGen as future business owners—and important inheritors of the largest wealth transfer in history—have a unique responsibility towards their business, its employees, their families, society and the environment. This includes an outsized interest in the business’s ability to responsibly navigate the hype, hopes and fears surrounding generative AI.

PwC’s survey findings and the important actions outlined across three critical areas—innovation, trust and succession—show that these changes cannot be delayed until the next natural transition of generational ownership.

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