CFOs more optimistic about AI’s impact on business performance
Deloitte’s latest survey of chief financial officers in the UK suggests they are becoming more optimistic about AI’s impact on business. In spite of continuing geopolitical challenges, three-quarters are now expecting AI to shield them from the impacts, with improved productivity.
Recent years have seen chief financial officers adopt a guarded approach to their duties – looking for ways to shore up performance, rather than taking risks to enhance their standing. The defensive stance adopted following the Russian military’s invasion of Ukraine in 2022 has been reinforced by further geopolitical turbulence – including the fallout of war crimes committed in Gaza, and the US and Israel’s ongoing war with Iran.
But while this broadly remains unchanged, as 2026 enters its second half, the second quarter of the year hinted at some modest repositioning toward a more optimistic, offensive approach. According to Deloitte, reducing costs remains the top priority for CFOs – but while 68% of those polled said so at the start of the year, that fell to 53% for April, May and June.
At the same time, finding ways to increase cash flow remains the second most important point on the agenda – but saw the reverse trend. In the year’s first quarter, 43% of CFOs pointed to it, but in the second, that spiked to 46%. And even more notably, the number of CFOs hoping to introduce new products, services, or to expand to new markets spiked 12 points to 37%, while those looking to grow through acquisition climbed by 5 points to 22%.
Partially, this may be down to geopolitical stress points being perceived as easing. In the run-up to co-hosting the World Cup, the US appeared to strike an uneasy memorandum of understanding with Iran. In this context, Deloitte asked 58 CFOs – including the CFOs of 10 FTSE 100 companies and 21 FTSE 250 companies – to rate on a scale of 0-100, the risk posed to businesses from a range of external factors. And while geopolitics came out on top, as it has done for 16 of the last 18 quarters, those concerns eased slightly, with a quarterly drop in the average rating from 79 to 68. However, as many no doubt saw coming, the agreement with the US and Iran did not last long – and hostilities have now resumed.
Business performance
Even so, this may not necessarily mean CFO anxiety will peak again. Many have also been proactive in trying to shield their firms from the impact of geopolitical uncertainty, with technology that they believe will give them added agility and adaptability. To that end, 73% of CFOs are optimistic that AI will materially improve business performance, up from 59% in the end of 2025, and 39% from 2024.
A 96% majority of CFOs now expect to see a rise in investment in digital technology and assets by UK businesses over the next five years – with 91% expecting a rise in the next 12 months. And despite a rise in the number of studies suggesting firms sinking large amounts of capital into their AI adoption are worried about returns on investment, there was little sign of that here.
A 78% portion of CFOs expect greater productivity and improved business performance over the next five years, linked to their technological changes. With many corporates now well into their AI deployment programmes, 50% of respondents also expect productivity gains over the coming 12 months.
Darren Graves, CEO of Deloitte in the UK, remarked, “It is encouraging to see growing optimism about the positive impact AI can have on productivity and business performance. With a new prime minister and cabinet in office, businesses will be keen to hear how the government plans to boost growth, competitiveness, and deliver a clear economic strategy that supports the UK’s position as a leading global destination for business and investment.”
