Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
UK finance chiefs have grown more optimistic about the potential for artificial intelligence to improve business performance, with expectations of rising technology investment over the coming years, according to a new survey by Deloitte.The survey of chief financial officers (CFOs) at the UK’s largest companies found that 59% had become more positive over the past 12 months about AI’s ability to boost their organisation’s performance. That compares with 39% when the question was last asked in the third quarter of 2024.
Almost all respondents (96%) said they expect UK companies to increase investment in digital technology and assets over the next five years. Some 77% also anticipate an improvement in productivity growth and overall business performance over that period.
Despite the more positive outlook on technology, overall business confidence remains subdued. Deloitte said the net balance of CFO confidence stood at -13%, below its long-term average, although that represented an improvement on the lows recorded in the third quarter.
Risk appetite showed signs of a modest recovery at the end of 2025. Some 15% of CFOs said it was a good time for their business to take on more risk, up from 12% in the previous quarter but still well below the long-run average of 25%.
More expansionary strategies continue to be a lower priority, though capital spending intentions have strengthened. The proportion of CFOs who described capital expenditure as a strong priority rose to 17%, a two-and-a-half-year high and slightly above the long-term average of 15%.
Perceptions of uncertainty have eased, but remain elevated. The share of finance chiefs who rated external uncertainty as high or very high fell to 38%, from 41% in the previous quarter, marking the lowest level since the third quarter of 2024.
Geopolitics was again identified as the biggest external risk facing large UK businesses, with a score of 65, up from 62 in the previous quarter. Concerns about UK competitiveness and productivity ranked second, holding at their highest level since the question was introduced in 2014. Energy prices and the security of energy supplies remained the third most significant risk, though the score dipped slightly to 47.
Richard Houston, senior partner and chief executive of Deloitte UK, said: “CFOs are significantly more positive about improving performance through deploying AI and remain upbeat about technology investment over the medium term.
“We know technology was a big driver of US GDP in 2025 and we see real potential in the year ahead for AI to boost UK business performance and fuel growth. However, to realise the full value from AI, we must combine human skills with technology and upskill people, so nobody is left behind.”
Ian Stewart, chief economist at Deloitte UK, added: “Business sentiment is subdued but more positive than a year ago. While CFOs remain cautious about geopolitics and productivity, business confidence and risk appetite have ticked up from their autumn lows and perceptions of external uncertainty have edged lower.”
