An already complex workforce transformation is accelerating – with AI adoption reshaping talent strategies and fueling a surge in deal-making as companies try to adapt to a rapidly evolving economic landscape.
This is according to the latest Oliver Wyman Forum’s CEO Agenda survey, in collaboration with the New York Stock Exchange.
Based on responses from 415 CEOs, the new research says that in a market shaped by nonstop volatility, CEOs are doubling down on acquisitions – with 94% of executives planning to pursue mergers and acquisitions in the next one to two years.
Nearly two-thirds of respondents reported plans to leverage industry consolidation as another mechanism to build scale and competitive advantage.
The study also finds that 43% of CEOs plan to deprioritise hiring for junior roles within the next year, marking a sharp increase from 17% last year; and 34% report that their workforce will shift toward more mid-level roles.
However, among organisations leading in AI adoption, a different pattern is emerging: these leaders more often see AI technology as a force multiplier rather than a replacement, with 24% reporting plans to increase junior-level hires.
“AI is not just automating tasks, it is elevating the value of entry-level talent,” says John Romeo, CEO of the Oliver Wyman Forum. “The companies getting the highest returns from AI are harnessing it to empower their workforce, not shrink it.”
At the same time, most respondents believe it is still too early to evaluate the return on AI investment – with the share rising to 53% – up from 41% last year. Only 27% of respondents say return on investment has met or exceeded expectations, down from 38% a year ago. Nearly a quarter of respondents report zero revenue impact so far.
Executives are finding that deployment at scale requires a gradual, comprehensive redesign of work. However, organisations farther ahead in AI deployment are seeing much stronger returns – nearly three times as many report that investment in AI is meeting or exceeding expectations (49% versus 17%).
“CEOs are no longer waiting for stability before they act,” says Ana Kreacic, partner and COO of the Oliver Wyman Forum. “They are converting disruption into a competitive advantage and seeking to buy the scale and capabilities that take too long to build.”
The full CEO Agenda 2026 report is available here.