CEOs across Jersey and Guernsey are worried they are falling behind in the race to harness artificial intelligence – and most admit they are still struggling to turn the technology into real business gains… So, what can be done?
The revelation fell out of the latest PwC Global CEO survey, which saw around 4,500 chief executives participate – 45 of which were from across the Channel Islands, up from 35 last year.
A particular concern highlighted by local CEOs was the lack of access to AI expertise.
The report alludes to limited success more generally in this department, with only a paltry 8% of CEOs having used AI to realise both cost savings and revenue growth.
Express took a closer look at the report to find out what’s front-of-mind for local business leaders when it comes to AI…
Falling behind on adoption?
The survey found that 58% of Channel Island CEOs are “concerned whether their company is transforming fast enough to keep up with technology and AI”.
This figure stands in stark contrast to the global average of 42%.
PwC analyses the discrepancy as indicating “that Channel Island CEOs are acutely aware of how fintech and AI are expected to disrupt many of our local industries”.
The report adds: “The rapid acceleration of fintech, including generative and agentic AI capabilities, means this is of utmost importance for our key industries, not least financial services.”
It is suggested that Channel Island companies are hampered by a piecemeal approach to AI implementation.
Figures show that only 20% of CEOs say their business is already using AI in support services to a large or very large extent.
Meanwhile, just 9% have integrated AI “directly” into their service offerings to a large or very large extent.
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PwC have identified seven “foundational requirements” for AI maturity and “successful enterprise-wide deployment”.
They found that only 15% of CI CEOs believe their company to have established six of these requirements.
“The Channel Island markets currently largely rely on off-the-shelf technology rather than in-house development, so the most disruptive AI impacts to date (e.g. in coding) are less pronounced locally.
“Adoption may have naturally gravitated towards readily available AI tools for internal support functions, either directly through managed services, with more bespoke, client-facing innovation to follow,” the report states.
On the upside, Channel Island CEOs appear to be confident about their capacity, at least, to adopt a more comprehensive AI infrastructure.
It found that 76% of local CEOs agree or strongly agree that “their company culture enables AI adoption”.
A similarly encouraging 71% agree or strongly agree that their “company tech environment” enables AI adoption.
The threats
As AI develops, so does cyber-risk – and Channel Island CEOs were polled extensively on their attitude to threats posed by new technology.
The survey explains: “Cyber risk now ranks as a top threat across most jurisdictions globally.
“This year, the threat is further compounded by both geopolitical events and the rapid rise of new fast-moving, AI-driven threat vectors.
“[These include] agentically-empowered bad actors, the rapid adoption of new AI technologies with limited safeguards and AI model-specific vulnerabilities, including context poisoning and prompt injection.”
Technology disruption is a concern globally, and it was found that 51% of Channel Island CEOs are also anxious about it.
“Cyber risk now ranks as a top threat across jurisdictions globally”
PwC Channel Islands CEO Survey
“This reflects the rapid technological advances in many of our islands’ economic sectors and the opportunities and challenges arising,” the PwC report explains.
It further notes that “cybersecurity requires sustained investment, but generative AI is changing the threat landscape by increasing the speed, scale and credibility of attacks”.
Per the report, AI-enabled detection and response in Jersey “remains uneven”.
What’s in it for us?
In the 2025 survey, 60% of Channel Island CEOs said they expected AI to “boost returns in the future”.
However, this year’s report found that while 25% of CEOs have seen cost savings due to AI, only 8% have managed both cost savings and revenue growth.
The report adds: “Progress is further limited by the availability of local AI talent – only 15% of CEOs can attract high-quality AI skills, and need to rethink recruitment, resourcing models and skills strategies.”
However, it is conceded that AI “can represent a significant investment, and that the benefits may take time to be realised”.
“At a basic level, AI investment is a necessity to retain market share. It is not necessarily a growth driver, whilst failing to invest risks losing competitiveness,” the report adds.
“Safe and successful deployment of AI is a complex process that requires planning and co-ordination.
“For local subsidiaries, that leadership may be at group level, not on island.”
The report made reference again to only 1 in 6 Channel CEOs having adequate AI foundations in place as a reason for a lack of emerging financial upside.
It concludes: “Financial returns from AI adoption to date clearly reflect a market still in transition in the Channel Islands.”
Looking to the future…
The report laid out three “practical steps” for how local CEOs can accelerate AI adoption ahead of next year’s report.
The first is to make “data and critical business processes AI ready.”
“AI is only as good as the data it works with,” the report explains. “The greatest results are often where business priorities, evidence of AI’s value, and availability of talent and data align.”
CEOs are urged to “make sure your governance structures are in place, leveraging formalised responsible AI and risk controls”.
Secondly, CEOs are encouraged to build an “enterprise-wide AI roadmap”.
READ: Jersey AI Council launched at “pivotal moment in the AI revolution”
“If you are one of the 59% of Channel Island CEOs who do not yet have an AI roadmap, now is the time.
“Without a roadmap, AI will remain a series of disconnected experiments”
PwC Channel Islands CEO Survey
“Without a roadmap, AI will remain a series of disconnected experiments rather than a source of lasting enterprise value.”
Finally, the report suggests that local CEOs “strengthen [their] innovation capabilities.”
“CEOs must prioritise innovation because that is where future growth will come from,” PwC explains.
Nick Vermeulen, Territory Senior Partner at PwC Channel Islands, concluded: “The wave of AI disruption is a tsunami – and it’s already here”.
“AI investment is a defensive necessity to maintain market share. Organisations that don’t get their data foundations right, build a clear roadmap, and develop the innovation capability to act on it risk being left behind,” he said.
“The time for cautious experiment has passed; 2026 must be the year of decisive action with governance built in.”