PwC research on Bermuda, business, AI and more

“Bermuda boardrooms are facing advances in artificial intelligence and widening governance gaps. [AI] According to PwC’s Caribbean Corporate Governance Study 2026 – Bermuda Edition:

A spokesperson said: “The survey outlines four future priorities for boards and reveals that 62% of directors agree with their organizations investing in AI and generative AI.” [GenAI] Despite the positive results, only 29% strongly agree that executives have the necessary skills to execute on AI and GenAI strategies.

Marisa Savage, partner at PwC Bermuda, said: “Bermuda directors recognize that AI is reshaping their businesses, and their governance infrastructure needs to keep pace, including AI education, skills development and the introduction of formal frameworks to monitor AI risks and opportunities.”

Key findings: Gaps in AI surveillance

37% of directors say their board is not sufficiently educated on AI and GenAI trends

Only 41% strongly agree that their board of directors has the necessary skills to oversee their AI and GenAI strategy

Only 37% strongly agree that their board has a formal approach in place to monitor AI opportunities and risks

AI governance and cybersecurity emerged as the top common concerns, with 24% of Bermuda directors citing each as a key AI/GenAI-related risk for their organization.

Board composition: Reluctant to refresh?

“Our research reveals that while 38 per cent of Bermuda directors believe at least one member of their board should be replaced, 59 per cent of boards continue to prioritize industry expertise over diversity and AI skills when recruiting new directors,” the spokesperson said.

“The data shows that boards recognize that change is needed to reflect the skills required on today’s boards,” added Marisa Savage. “Rebalancing board composition to include digital and AI fluency is a governance imperative.”

Geopolitical risk: high awareness, low confidence

A spokesperson said: “Beyond AI, this research highlights the significance of geopolitical instability. 86% of respondents believe geopolitical risk should be factored into corporate strategy, and 80% express at least some concern about the potential impact of geopolitical risk, but only 31% are confident that their board understands geopolitical risk ‘very well’.”