Two-thirds of c-suite executives believe that 40% of Fortune 500 companies will no longer exist in 10 years time to digital disruption, a study reveals.

In a survey of more than 500 c-suite executives across Europe and the United States, over half (53%) said they are concerned about competition from disruptive businesses.

However, nine in ten said that they are hopeful about the future of technology in their businesses. And six in ten said they were not worried about automation threatening their business.

“We learned that even during these times of political and economic uncertainty and technology, American and European executives are cautiously optimistic,” said Christian Ofori-Boateng, CEO of ChristianSteven Software, which conducted the research. “Some fear competition from a new market disruptor or automation, but most are hopeful about the role technology will play in their businesses moving forward.”