Bermuda boards back AI investment but question leadership readiness, PwC finds

Bermuda directors are seeing positive results from artificial intelligence investments but remain unconvinced that management teams have the skills required to deliver long-term AI strategies, according to PwC’s Caribbean Corporate Governance Survey 2026 – Bermuda Edition.

The survey, published June 2026, reveals that while 62% of directors agree their organisations’ investments in AI and generative AI (GenAI) are yielding positive results, only 29% strongly agree that management has the skills needed to execute AI and GenAI strategy.

Marisa Savage (pictured), partner at PwC Bermuda, said: “Bermuda directors recognise that AI is reshaping their businesses — and the governance infrastructure needs to keep pace, including AI education, skills development, and implementation of formalised frameworks to oversee AI risks and opportunities.”

The survey highlighted a significant AI oversight gap on Bermuda boards. Thirty-seven per cent of directors say their boards receive insufficient education on AI and GenAI trends, while only 37% strongly agree a formal approach is in place to oversee AI-related opportunities and risks.

Reflecting this, AI governance and cybersecurity emerge as joint top concerns, with 24% of Bermuda directors citing each as their organisation’s primary AI or GenAI-related risk.

The impacts of AI on talent are beginning to be felt. The survey exposed that 38% of Bermuda directors believe at least one member of their board should be replaced, while 59% say their boards continue to prioritise industry expertise over diversity or AI skills when recruiting new directors.

“The data suggests directors know change is needed to reflect the skills today's boardroom demands. Rebalancing board composition to include digital and AI fluency is a governance imperative,” Savage added.  

Beyond AI, the survey highlighted the criticality of geopolitical instability. Eighty-six per cent of respondents believe geopolitical risk should be factored into company strategy, and 80% expressed at least some level of concern about its potential impact — yet only 31% are confident their boards understand geopolitical risk “very well”.

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