Survey methodology 69 CEOs representing 19industries participated in this Fortune/DeloitteCEO Survey. 71% of respondents are United States-based organizations, Fielded October 3-16, the 10-question survey explored CEO perspectives onthe economy and artificial intelligence. The following pages present key Surveyed CEOs include Fortune 500 CEOs, Global 500 CEOs, and selectpublic and private CEOs in the global Fortune community. This Fall 2025 survey is the 16th edition of the Fortune/Deloitte CEO surveyseries. Information on previous surveys is availablehere. to cut costs where needed, strengthen supply chains,and apply AI to boost efficiency and resilience.—Jason Girzadas, CEO, Deloitte US“ CEOOutlook CEO outlook is rebounding from the more negative perspectives seen in theSpring 2025 survey. Pessimism over the global economy dropped to 32%from 58% in the spring while optimism has doubled to 28% from 14%. Forthe first time, the survey asked CEOs to share their outlook for the U.S. economy, with 41% holding a pessimistic or very pessimistic outlook. Thedifference in outlook for the US economy vs the global economy likely reflects uneven economic performance, with strong equity markets,thriving AI-driven companies, and high-end consumer spending contrasting Despite these mixed signals, CEOs continue to show growing optimism about their industries and company performance, with optimism rising to71% from 60% for company performance and to 47% from 32% for theirindustries. As tariffs continue to make headlines months after the reciprocaltariff announcement in April, CEOs are reacting, adjusting, and continuing to refine their strategy. Most surveyed CEOs (78%) expect tariffs to have fewerbenefits than risks for the US economy. Yet, over half surveyed see an equal mix of benefits and risks for their organizations. CEOs are continuing to feel C E OO U T L O O K CEO outlook for the global and US economy is mixed Optimism for their industry and company performance rebounds compared to April 2025. What is your personal outlook toward the following areas over the next 12 months? C E OO U T L O O K CEOs believe tariffs could pose more risks thanbenefits to the US economy However, half of CEOs surveyed see roughly an equal mix of benefits and risks from tariffs for their own company. What do you think the impact of tariffs will be? C E OO U T L O O K CEOs are prioritizing supply chain resilience and costmanagement amid economic uncertainty Over 60% of CEOs are maintaining current investment plans without significant changes. Strategy andWorkforce Modelsin theAge of AI As AI adoption continues, surveyed CEOs expect the greatest impact oncore processes and resource allocation, followed by talent strategy and long-term vision and direction. Nearly a quarter see opportunities fortransformational impact in shaping long-term vision and direction. CEOs anticipate the least impact on M&A partnerships and strategyand on risk and resilience. When assessing AI’s impact, CEOs arelooking across multiple dimensions. Most are tracking cost savings and At the same time, leaders are setting expectations for responsible AIuse and governance from the top: 69% are developing clear AI usagepolicies, and 56% are working to cultivate a culture of ethical AI. As AIbecomes more embedded in strategy and operations, CEOs are alsoconsidering implications for their talent strategies. When asked about S T R A T E G YA N D W O R K F O R C E M O D E L S I N T H E A G E O F A I CEOs anticipate moderate to significant impact oncore processes and strategy due to AI Core processes, resource allocation, talent strategy and long-term vision & direction are the key activities expected to have asignificant impact due to AI. S T R A T E G YA N D W O R K F O R C E M O D E L S I N T H E A G E O F A I CEOs are measuring AI’s impact through efficiency Operational improvements and employee adoption emerge as leading success metrics for AI initiatives. What metrics are you using to assess the impact of AI on your business? S T R A T E G YA N D W O R K F O R C E M O D E L S I N T H E A G E O F A I A majority of CEOs are emphasizing clear policies andguidelines for AI use Over half of leaders surveyed are building cultures around responsible AI. What is your approach to ensuring responsible AI use and governance within your organization? S T R A T E G YA N D W O R K F O R C E M O D E L S I N T H E A G E O F A I CEOs see “growth mindset” as a top skill in an AI-driven future Curiosity and adaptability are also top skills, according to CEOs. In a word or phrase, what skill do you believe will matter most for your workforce in an AI-driven future? CEOReflections The top challenges for CEOs centered on thepace and degree of change; one CEO shares“unprecedented degree of unprecedentedchanges” while another is concerned about“employees coping with the level of change.”Uncertainty also remains top of mind forsurveyed CEOs, especia