Ghanaian CEOs continue to demonstrate strong optimism and appetite for Generative AI (GenAI) despite some mixed business outcomes in 2024, according to PwC’s 28th Annual CEO Survey: Ghana Report.

The report, themed “Reinvention on the Edge of Tomorrow,” reveals that while GenAI may have slightly underdelivered on expectations regarding revenue growth and profitability, its transformative impact on workforce efficiency has impressed many business leaders.

Ghana’s CEOs reportedly had some of the highest global expectations for GenAI-and in some cases, the technology exceeded them.

“Ghana’s CEOs had very high expectations about how GenAI would improve the efficiency of their employees at work in 2024. Guess what? The technology still overshot these expectations,” the report noted.

According to PwC, an average of 63% of Ghanaian CEOs expected GenAI to significantly improve time efficiencies across their organisations, aligning with the optimism of their counterparts across Africa and the globe.

Interestingly, despite the anticipation of greater efficiency, only 10–13% of CEOs projected workforce increases as a result of GenAI’s integration—indicating a focus on productivity gains over hiring expansions.

While there was some disappointment around GenAI’s immediate contribution to revenue and profit growth, PwC notes that business leaders in Ghana remain bullish about the future of the technology. Many are actively exploring how best to embed GenAI into key operational and strategic areas, believing its full potential is yet to be realised.

"In almost every broad use case for GenAI-workforce efficiency, financial performance, and headcount cost containment—Ghana’s CEOs led the Africa and global CEO communities in optimism, both in expectations and appraisal of the technology’s delivery," the report highlighted.

The annual global CEO survey, which offers insight into what drives and concerns business leaders around the world, suggests that in Ghana, GenAI is increasingly being seen not just as a tech trend, but as a foundational tool for long-term transformation and innovation.

PwC concludes that the unwavering enthusiasm of Ghana’s CEOs signals a strong willingness to invest in GenAI, even amid evolving expectations, reflecting a forward-looking approach to digital transformation in the country’s business landscape.