bcg -投资者看好人工智能如今期盼落地成效 2026 年全球投资者调研 Investors Believe in AI-Now They Want Results 2026 Global Investor Survey

2026GLOBALINVESTORSURVEY

InvestorsBelieveinAI—NowTheyWantResults

July2026

Amidmarketuncertainty,investorssharedtheirexpectationsfortheglobaleconomyandthecompaniestheyinvestin

GlobalinvestorsurveyMar23–Apr10,2026

Global

investor

survey

Nov2024

Newtariffpoliciesannounced

Apr2,2025

StartofconflictintheMiddleEastFeb28,2026

S&PGLOBAL1200(PRICEINDEX)5,500

5,000

Jun

2021

Dec

2021

Jun

2022

Dec

2022

Jun

2023

Dec

2023

Jun

2024

Dec

2024

Jun

2025

Dec

2025

Jun

2026

4,500

4,000

3,500

Global

investorsurvey

Nov2021

Global

investorsurvey

Feb2023

3,000

0

Sources:S&PCapitalIQ;BCG’sValueScienceCenter.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).

2026survey

•Investorsweresurveyedroughlythreeweeksafterthestartof

theconflictintheMiddleEast

•TheS&PGlobal1200index

wasabout4,900onMarch23,2026,approximately6%belowitsJanuary2026peak

•Sincethesurveyclosed,theS&PGlobal1200hasreachednewall-timehighs

2024survey

•Investorsweresurveyed

immediatelyfollowingtheUSpresidentialelection

•TheS&PGlobal1200index

wasabout4,180inNovember2024—nearanall-timehighatthetimeofthesurvey

Investorsentimentforthemediumtermremainsbullish,especiallyinNorthAmericaandAsia-Pacific

Investors’sentimentforthenextthreeyears(%)

3

31

35

25

6

2019

5

30

32

28

5

2018

7

54

28

10

1

2024

10

63

21

5

2

2023

9

58

25

6

2

2026

5

30

31

27

7

2017

13

41

26

15

5

2021

ExtremelybullishBullish

Investors’sentimentforthenextthreeyears,byregion(%)

5

50

30

13

1

14

62

22

2

1

7

64

23

4

3

Asia-Pacific

NorthAmerica

Europeand

theMiddleEast

NeutralBearishExtremelybearish

Sources:BCG’sglobalinvestorsurveys.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Bullishnessmeasuresthedirectionalconvictionofinvestors,notthemagnitudeofexpectedreturns.Becauseofrounding,thepercentagesmaynotaddupto100.

Surveyquestion:Wherewouldyouplaceyourselfonthebull-bearspectrumoverthenextthreeyears?

However,investors’market-averageTSRexpectationsforthenextthreeyearsaremuted

AverageTSRexpectedforthesubsequentthreeyears

8.3

6.5

5.55.66.3

201020122014201620182020202220242026

7.5

7.1

6.6

7.1

6.5

5.55.6

6.9

7.3

AverageTSRexpectedthroughyear-end2028,byregion

2026vs.2024(pp)

–0.4–0.3–0.6+0.3

7.2

6.4

6.9

7.7

Asia-Pacific

NorthAmerica

Europeand

theMiddleEast

Global

Sources:BCG’sglobalinvestorsurveys,2010–2026.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).ExpectedTSRthroughyear-end2028is

calculatedasaweightedaverageofthemidpointofthereturnrangeselectedbyrespondents,annualizedoverthreeyears,andincludingtheannualdividend

yieldforeachindex.Resultsareweightedbythenumberofresponses.Datafrom2010through2014andfrom2017through2026isbasedonallrespondents

across16indices(withtheS&P500beingover-represented).Datafrom2015through2016isbasedonlyonrespondentsusingtheS&P500astheirbenchmark.Anydiscrepancieswhencomparedwithpriorsurveyresultsareduetorounding.

Surveyquestion:Atwhatleveldoyouexpectthe[index]tobethreeyearsfromnow(throughyear-end2028)?

Investorsseethemarketastoobullishacrosskeymarketdrivers,especiallyonthefutureimpactofAI

Keygeopoliticalandmacrofactorsinfluencingcapitalmarkets

2026

Toopessimistic2Toooptimistic2

vs.2024

Investors’evaluationof

Net

optimism

2026

vs.2024

(%)1

themarket’sview(%)

(pp)

(pp)

Investors’top-threefactors(%)

WarinUkraineandtheconflictintheMiddle

East

60

+29

15

30

15

+3

Interestratepolicy

54

–5

15

30

15

–7

USfederalpolicies

49

+3

21

31

10

–6

AIdevelopmentandregulation

45

+22

15

56

41

+7

Costofcapital

21

–7

16

19

3

–12

ChinaGDPoutlook

17

–15

18

26

8

+2

Structuralchangesinassetmanagementand

allocation

10

+1

10

17

7

+2

Rest-of-Asiatradeandeconomicacceleration

10

–5

13

19

6

0

BRICSexpansion

9

–6

11

19

8

–3

Laborrelationsandcost

9

–8

13

20

7

+1

M&Aactivityandregulation

6

–3

10

15

5

+3

Greenindustrialpolicy

6

–8

10

22

12

–7

Sources:BCG’s2026GlobalInvestorSurvey;BCG’s2024GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Anydiscrepancieswhencomparedwithpriorsurveyresultsareduetorounding.

1Netoptimismistheshareofinvestorswhoconsideredthemarkettobetoooptimisticminusthesharewhoconsideredthemarkettobetoopessimistic.2Themarketbeingtoooptimisticimpliesdownsiderisk,whereasthemarketbeingtoopessimisticimpliesupsideopportunity.

Surveyquestions:Whichofthefollowingfactorsdoyoubelievewillmostinfluencetheoveralldirectionofyourregion’sequitymarketfortheremainderof2026?Howaccuratelydoyoubelieveinvestorshavecapturedthefollowingfactorsinmarketpricing?

Asignificantshareofinvestorsexpectanear-termrecessionandelevatedinflationtocontinue

Investorswhoareseeingtheirregioncurrentlyina

recessionoranticipatingonebeforeyear-end2026(%)

44

56

Global

41

59

NorthAmerica

60

40

EuropeandtheMiddleEast

30

70

Asia-Pacific

YesNo

Investors’expectedtimeperiodforinflationtoremainelevated(%)

43

45

13

Global

47

44

8

NorthAmerica

44

47

10

EuropeandtheMiddleEast

37

43

19

Asia-Pacific

After2026

Byyear-end

2026

Inflationisnotelevated

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Becauseofrounding,percentagesmaynotaddupto100.

Surveyquestions:Whendoyouexpectthenexteconomicrecessiontostartin[homecountry]?Howlongdoyouexpectinflation(asmeasuredbytheConsumerPriceIndex)toremainelevatedabovethecentralbank’stargetlevel(e.g.,roughly2%fortheUS)?

Investorsbelievetariffswillnegativelyaffectcorporatemargins,consumerspending,stockmarketperformance,andGDPgrowth

Investors’expectedimpactofUStariffpolicyoverthenext12to24months(%)

Netperspective1

GlobalNAEMEAPAC

Corporatemargins

16

53

19

82

–59

–55

–61

–63

Consumerspending

18

50

21

92

–57

–58

–58

–56

Consumerpricelevels

20

49

15

133

–53

–62

–61

–37

Stockmarketperformance

11

53

21

94

–51

–41

–53

–62

Corporaterevenues

13

49

25

102

–50

–35

–59

–58

GDPgrowth

12

45

27

123

–42

–27

–55

–46

Corporateinvestmentlevels

12

43

27

133

–39

–32

–41

–43

Interestrates

10

36

28

213

–22

–22

–38

–7

Governmentincome

9

27

39

184

–14

+20

–29

–32

StronglynegativeModeratelynegativeLittleornoneModeratelypositiveStronglypositive

Source:BCG’s2026GlobalInvestorSurvey.

Note:NA=NorthAmerica;EME=EuropeandtheMiddleEast;APAC=Asia-Pacific.n=544globalinvestors(180inNA,184inEME,and180inAPAC).For

consumerspending,apositiveornegativeimpactreflectsanincreaseordecreaseinspendinglevels,respectively.Forinterestratesandconsumerpricelevels,anegativeimpactreflectsexpectationsthatthesewillincreaseasaresultoftariffpolicy,whileapositiveimpactreflectsexpectationsthatthesewilldecrease.

1Netperspectiveistheshareofinvestorswhoexpectedapositiveimpactminusthesharewhoexpectedanegativeimpact,excludinginvestorswhowereunsure.Theregionalresultswerecalculatedseparatelyusinginvestors’responsesineachregion.

Surveyquestion:HowwouldyouratetheimpactoftheUStariffpolicyonthebelowmetricsin[region]overthenext12to24months?

Investorsanticipatetechnology,healthcare,andexploration-basedsectorstobemacrobeneficiaries,whileconsumerindustriesseemacroheadwinds

Investors’expectedimpactofthecurrenteconomicclimateandpoliticalagendaonsectors(%)Netperspective1

GlobalNAEMEAPAC

Consumerindustries

9

49

28122

–44–33–50

–47

Materials-basedindustries

10

39

23

244

–21–3–25

–36

Services

13

31

31

223

–19–13–27

–14

Financialinstitutions

5

31

30

285

–3–4–19

+14

Utilities

10

24

32

259

0+13–3

–13

Industrialandmanufacturingindustries

10

27

24

2811

+2+9–16

+16

Exploration-basedindustries

10

23

22

3214

+13+37–4

+7

Healthcare-relatedindustries

221

40

326

+15–3+9

+39

Technology-relatedindustries

420

26

3813

+27+23+16

+40

Stronglynegative

Moderately

negative

Littleornone

Moderatelypositive

Stronglypositive

Source:BCG’s2026GlobalInvestorSurvey.

Note:NA=NorthAmerica;EME=EuropeandtheMiddleEast;APAC=Asia-Pacific.n=544globalinvestors(180inNA,184inEME,and180inAPAC).

1Netperspectiveistheshareofinvestorswhoexpectedapositiveimpactminusthesharewhoexpectedanegativeimpact,excludinginvestorswhowereunsure.Theregionalresultswerecalculatedseparatelyusinginvestors’responsesineachregion.

Surveyquestion:Howdoyouexpectthecurrenteconomicclimateandpoliticalagendatoaffectdifferentsectors?

Investorshaveshiftedtowardlong-termstructuralwinnersandsectorsthatbenefitfromeconomictrends,whileholdingmoredrypowder

Three

most

commonchanges

Investors’topchangestocapitalallocationandinvestingpractices(%)1

Pickingwinners

Investingmoreinlong-termstructuralwinners2Allocatingmoretomacrobeneficiarysectors

InvestingincompanieswithstrongpricingpowerAllocatingmoretostablesectors

Takingfewerhigher-convictionpositions

36

34

32

46

52

Tighteningdiscipline

Makingmore-conservativevaluationassumptionsPrioritizingmorevalue-basedinvesting

FocusingmoreoncashflowandFCF

Adoptingabottom-upstock-pickingapproachUsingahighercostofcapitalassumption

17

37

34

32

29

Playingitsafe

Holdingmorecashordrypowder

Investingacrossawiderrangeofassetclasses

SpreadinginvestmentsacrossmoreindividualstocksPursuingdifferentregionsandmarkets

Takingshorterandmoremarket-neutralpositions

16

13

36

33

50

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).FCF=freecashflow.

1Thepercentagereflectstheshareofinvestorsselectingeachfactoramongtheirtopfivechanges.2Forexample,AI,energy,andtheenergytransition.

Surveyquestion:Howhaveyourcapitalallocationandinvestingpracticesorrecommendationschangedcomparedwithyourchoices12monthsago?Selectuptofivechangesandrankthembyimportance.

Growthremainstheclear-cut,numberoneinvestmentconsideration,butinvestorsarealsoincreasinglyfocusedonreturnsoncapital

Investors’topinvestmentconsiderations(%)

2026vs.2024(pp)

+2+8+5–3–2

54

19

33

18

17

Long-termorganicgrowthoutlook

ReturnoncapitalShort-termgrowth

momentum

FCFconversion,

generation,and/oryield

Potentialfor

marketsharegains

Sources:BCG’s2026GlobalInvestorSurvey;BCG’s2024GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Onlythefivehighest-ratedconsiderationsareshown;respondentsranked20factors.FCF=freecashflow.Anydiscrepancieswhencomparedwithpriorsurveyresultsareduetorounding.

Surveyquestion:Howimportantarethefollowingmetricsorcharacteristicsforyourinvestmentdecisionsandrecommendationsregardingfinanciallyhealthycompaniesoverthenext12to18months?Pleaseindicateyourfivemostimportantconsiderations.

Roughly60%ofinvestorssupportactivistinvestors,butfewerbelievethatshareholderactivismdrivesstrongermidtermorlong-termTSR

Investors’postureregardingactivistinvestors(%)

NotengagingPrivatelysupporting

Publiclysupporting

Proactively

engagingwith

activists

Publicly

collaboratingwithactivists

–2+1–1

~60%ofinvestorssupport

activistseitherprivatelyorpublicly

13

6

1

2026vs.2024(pp)

+1

40

+1

41

Investorswhobelievethatactivismdrivesstrongermid-orlong-termTSR(%)1

–9pp

60

51

2024

2026

Sources:BCG’s2026GlobalInvestorSurvey;BCG’s2024GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Anydiscrepancieswhencomparedwithpriorsurveyresultsareduetorounding.

1Theresultsreflectinvestorswhosomewhatagreedorstronglyagreed.Forcomparability,the2024resultexcludesrespondentswhoselectedtheneutralresponse.Surveyquestionandstatement:Wherewouldyouplaceyourselfontherangeofactivism-relatedpostures?MostoftheactivistcampaignsIhavewitnessed

havehelpeddrivestrongermid-orlong-termTSRforshareholdersoverall.

Investorswantcompaniestobalancenear-termEPSwithlonger-terminvestments,butwhentheyareforcedtochoose,growthwins

Mostinvestorsconsideritimportantforcompaniestodeliverprofitabilityandinvestforgrowth…

0pp

–2pp

86%86%

85%83%

2024

2026

DeliverEPSthatat

leastmeetsguidance

orconsensus

Prioritizebuildingkey

businesscapabilitieseven

ifitmeanslowerEPS

…butwhenfacedwithatradeoff,almostthreetimesasmanyinvestorswantcompaniestofocusongrowth

3x

50%

13%

37%

Prioritize

near-termEPS

Threadtheneedle

andtrytodeliver

onboth

Prioritize

long-termgrowth

Sources:BCG’s2026GlobalInvestorSurvey;BCG’s2024GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).EPS=earningpershare.

Surveyquestionsandstatements:ItisimportantforhealthycompaniestodeliverEPSoverthecurrentfiscalyearthatatleastmeetsguidanceorconsensus.(Theresultsreflecttheshareofinvestorswhosomewhatagreedandstronglyagreed.)Itisimportantforhealthycompaniestoprioritizebuildingkeybusiness

capabilities(forexample,digitalortechnologyinfrastructure)thatcreateadvantage,deliverattractivereturns,and/orreducerisklongerterm,evenifitmeans

guidingtolowerEPSordeliveringbelowconsensus.(Theresultsreflecttheshareofinvestorswhosomewhatagreedandstronglyagreed.)Whichofthefollowingbestdescribesyourview?Companiesshouldprioritizenear-termEPS,threadtheneedleandtrytodeliveronboth,orprioritizelong-termgrowth.

Investorswantcompaniestoinvestorganically,reshapetheportfolio,avoidleverage,andpayconsistentdividends

Investorswhoagreewitheachstatement(%)

i

20242026

–4pp

+4pp

7369

3842

Iamavoidingcompanieswithleveragethatis

morethanthreetimesnetdebttoEBITDA

Iamsupportiveof

nvestingininnovation

evenifitaffects

margins

Itisimportanttoactively

pursueacquisitionsto

strengthenthebusiness

+6pp

+1pp

+12pp

78

66

84

65

Itisimportantto

aggressively

repurchaseshares

Itisimportanttomaintaindividendsathistoricallevels

78

66

Sources:BCG’s2026GlobalInvestorSurvey;BCG’s2024GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Theresultsshownreflecttheshareofinvestorswhosomewhatagreedandstronglyagreed.

InvestorsbelieveAIwillaffectcorporatefundamentalsinthenearterm...

Investors’expectationsforwhenAIwillhaveamateriallypositiveimpactoncorporatefundamentals(%)

36

17

34

11

2

1

Global

42

14

32

9

2

NorthAmerica

39

16

29

13

3

1

EuropeandtheMiddleEast

27

20

39

10

3

1

Asia-Pacific

Alreadystarted

Within12months1–2years

3–4years

5+years

Notexpectingimpact

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Becauseofrounding,thepercentagesmaynotaddupto100.

Surveyquestion:WhendoyouexpectAItohaveamateriallypositiveimpactoncorporatefundamentals(growth,profitability)acrossmostindustries,excludingtechnologycompaniesfocusedonAIinfrastructure?

...butaminorityofinvestorsviewAIasasourceofsustainedcompetitivedifferentiationlongerterm

Investors’perspectivesonAIasacompetitiveadvantage(%)

20

33

33

14

22

27

41

9

24

22

42

11

Asourceofsustainedand

significantcompetitiveadvantage

forcompanies

Asourceofshort-tomedium-termadvantageforfirstmovers,

butonethatwilllevelout

Primarilyanefficiencyor

productivityprogram;necessary,

butnotamajordifferentiator

Largelyoverhyped;currentAIinvestmentlevelsareunlikelytogenerateadequatereturns

22

27

39

12

Global

NorthAmerica

EuropeandtheMiddleEast

Asia-Pacific

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Becauseofrounding,thepercentagesmaynotaddupto100.

Surveyquestion:WhatisyourperspectiveontheAIinvestmentsbeingmadebycompaniesyouinvestinorcoverthatcompeteinindustrieswhereAIwilllikelyplayanimportantrole,excludingtechnologycompaniesfocusedonAIinfrastructure,tools,etc.?

TheimpactofAIisexpectedtobestrongestonlaborproductivity,

corporatefundamentals,andgrowth,butatthecostofjobsandwages

Investors’expected24-monthimpactofAI(%)

Global

Netperspective1

APAC

NA

EME

Laborproductivity

28

14

51

23

+64

+58

+55

+77

Corporatemargins

28

20

58

11

+59

+57

+53

+69

Corporateinvestmentlevels

311

19

51

15

+52

+50

+37

+69

Corporaterevenues1

10

28

54

8

+51

+53

+45

+57

GDPgrowth1

8

32

51

7

+49

+59

+45

+44

Stockmarketperformance

213

20

54

10

+49

+57

+47

+44

Corporatetransactionactivity

26

40

42

9

+43

+43

+41

+47

Consumerpricelevels2

317

48

27

2

+9

+11

+5

+13

Medianwagesandhouseholdincome

6

32

45

141

–23

–17

–28

–24

Unemployment2

17

52

20

82

–59

–61

–57

–61

StronglynegativeModeratelynegativeLittleornoneModeratelypositiveStronglypositive

Source:BCG’s2026GlobalInvestorSurvey.

Note:NA=NorthAmerica;EME=EuropeandtheMiddleEast;APAC=Asia-Pacific.n=544globalinvestors(180inNA,184inEME,and180inAPAC).

1Netperspectiveistheshareofinvestorswhoexpectedapositiveimpactminusthesharewhoexpectedanegativeimpact,excludinginvestorswhowereunsure.Theregionalresultswerecalculatedseparatelyusinginvestors’responsesineachregion.2Areductioninconsumerpricelevelsandunemploymentisconsideredapositiveimpact.

Surveyquestion:WhatimpactdoyouexpectAItohaveinthefollowingareasoverthenext24monthsin[yourregion]?

InvestorsbelievethemarketisoverlyoptimisticonAI’spotential,raisingconcernsaboutmarketvaluationsandheadwindsforfuturereturns

Investors’viewsonhowaccuratelyAIdevelopmentandregulationisreflectedinmarketvaluations(%)

GlobalNorthEuropeandtheAsia-

AmericaMiddleEastPacific

Appropriatelyreflected

Toooptimisicallyreflected

ToopessimisticallyreflectedNotreflectedinmarket

11

6

27

56

15

6

23

56

15

5

22

58

19

6

19

56

InvestorswhothinkmarketvaluationsandAIexpectationsarelikelytohinderreturns(%)

Thepotential

compressionof

valuationmultiples

maycausecompanies’

TSRtodepend

onimproved

fundamentals,suchasgrowth,margin

expansion,andfreecashflowgeneration

73%

Global

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).

Mostinvestorsdeliberatelyevaluatecompanies’AIstrategiesandseeroomforimprovement

Investorswhoagreewitheachstatement(%)

IanalyzeandevaluatetheAIstrategiesofthecompaniesthatIinvestinorcover

Itiscriticalformanagementteamstohaveaclearandauthenticnarrativeregarding

theirAIstrategies

IprefercompaniestopursueleadershipinAIratherthanbefastfollowers

ThecompaniesIinvestinorcoverprovidegoodreportingontheirAIagendasandtheirimpact

TheAIstrategies,publiccommitments,andinvestmentsofthecompaniesthatIinvestinarereflectedintheirmarketvaluations

~40%preferfollowers,dependingonthesectororregion

57

58

77

77

61

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).AllsurveystatementsexcludedtechnologycompaniesfocusedonAI,includinginfrastructureandtools.Theresultsshownreflecttheshareofrespondentswhosomewhatandstronglyagreed.

Source:BCG’s2026GlobalInvestorSurvey.

Note:n=544globalinvestors(180inNorthAmerica,184inEuropeandtheMiddleEast,and180inAsia-Pacific).Theresultsreflectinvestorswhosomewhatagreedandstronglyagreed.ThequestionsexcludedtechnologycompaniesfocusedonAI,includinginfrastructureandtools.

InvestorsareconcernedaboutAIexecutioncapabilitiesbutseecurrentAIinvestmentsastooaggressiveandsizablemargindilutionasunacceptable

Investorswhoagreewitheachstatement(%)

Capabilities

IamconcernedaboutthedataandtechnologicalcapabilitiestosuccessfullyexecuteAI

70

IamconcernedaboutthepeopleandnontechnicalcapabilitiestodeliverAI

77

Investments

IviewcurrentAIinvestmentsasmuchtooaggressive

37

IviewcurrentAIinvestmentsasappropriate

41

IviewcurrentAIinvestmentsasmuchtooconservative

22

72

Margindilution

Iamwillingtoacceptamoderatelevelofmargindilution(1ppto2pp)temporarily(onetotwoyears)

41

Iamwillingtoacceptasignificantlevelofmargindilution(3ppto5pp)temporarily(onetotwoyears)

InvestorsultimatelyexpectAItocreatemeaningfulvalue,especiallyinhealthcare,technology,financialinstitutions,andindustrials

Investors’expectedthree-yearimpactofAIonfinancialfundamentalsbysector(%)Netperspective1

GlobalNAEMEAPAC

Healthcare-relatedindustries

2610

52

31

+75+69

+74

+80

Technology-relatedindustries

49728

52

+67+77

+60

+66

Financialinstitutions2

2715

54

22

+67+65

+65

+71

Industrialandmanufacturingindustries

1819

56

16

+63+63

+63

+66

Services

11134

459

+42+46

+36

+44

Exploration-basedindustries

1647

397

+39+49

+37

+33

Materials-basedindustries

1946

405

+35+41

+36

+30

Consumerindustries

11436

445

+34+34

+30

+38

Utilities

1753

337

+32+34

+32

+29

Stronglynegative

Moderatelynegative

Littleornone

Moderatelypositive

Stonglypositive

Source:BCG’s2026GlobalInvestorSurvey.

Note:NA=NorthAmerica;EME=EuropeandtheMiddleEast;APAC=Asia-Pacific.n=544globalinvestors(180inNA,184inEME,and180inAPAC).

1Netperspectiveistheshareofinvestorswhoexpectedapositiveimpactminusthesharewhoexpectedanegativeimpact,excludinginvestorswhowereunsure.Theregionalresultswerecalculatedseparatelyusinginvestors’responsesin