UK Finance Chiefs Warming to AI, Even as They Keep Spending in Check
Deloite’s latest quarterly survey finds 73% of large-company CFOs optimistic about AI, up from 39% two years ago. Their wallets have not moved as fast.
Key Takeaways:
- Nearly three-quarters of Britain’s largest company finance chiefs express optimism about AI improving business performance.
- This positive outlook is a significant rise from previous years.
- The growing acceptance of AI comes as the corporate case for AI is being rigorously evaluated, reflecting a more cautious yet pragmatic approach.
July 20, 2026 – 8:48 am
Deloitte polled 58 CFOs between 1 and 13 July, most from FTSE-listed or large private companies. The survey reveals a thaw in the anxieties that have characterized the past two years, though not uniformly across all areas of concern.
- Geopolitical risk concern fell to 68 on a 0-to-100 scale, down from 79 at the start of 2026.
- Worries about energy prices and supply disruptions also eased to 60 from 70.
Despite these shifts, business confidence remains at a six-year low due to ongoing geopolitical issues and UK growth prospects.
AI Sentiment and Spending:
The steady increase in AI sentiment is noteworthy, doubling in two years while most other measures have remained stagnant. However, CFOs express caveats regarding AI implementation:
- Concerns about UK competitiveness and domestic productivity remain relatively high at around 63.
- Research indicating that the time AI frees up is often inefficiently utilized further complicates the belief vs. measurable return narrative.
Debapratim De, Deloitte UK’s chief economist, emphasizes that CFOs still prioritize cost reduction and cash control, suggesting continuity rather than a sudden shift in priorities.
While most expect UK companies to increase technology investment over the next five years (96%), few anticipate significant gains within the next 12 months. Finance leaders tend to favor AI applications focused on cost-cutting and operational efficiency over customer-facing innovations.
This discrepancy between conviction and near-term payoff is not unique to finance departments, as evidenced by a BCG survey this year indicating that many CEOs believe their boards are rushing AI transformation.