Over half (59%) of CFOs at the UK’s largest businesses have become more optimistic over the past 12 months about the potential for artificial intelligence to boost organisational performance, up from 39% in Q3 2024, according to Deloitte’s latest UK CFO Survey.
CFOs overwhelmingly (96%) expect to see a rise in investment in digital technology and assets by UK companies over the next five years. The survey also found that 77% expect an increase in productivity growth and business performance over the same period.
UK CFOs showed small signs of growing confidence at the end of 2025, with corporate risk appetite edging up from autumn lows. Some 15% of finance leaders said it was a good time to take greater risk onto their balance sheet, up from 12% in the previous quarter – although this remains well below the long-term average of 25%.
Business optimism also improved in Q4, recovering from the Q3 low and rising above levels seen a year earlier. While confidence remains below its long-run average, the upward movement points to a more positive outlook among finance leaders.
Capital expenditure has begun to gain momentum, with 17% of CFOs citing it as a strong priority – a two-and-a-half-year high and slightly above the long-term average.
“CFOs are significantly more positive about improving performance through deploying AI and remain upbeat about technology investment over the medium term,” says Richard Houston, senior partner and chief executive of Deloitte UK.
“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.”
Perceptions of external uncertainty continued to ease. The proportion of UK CFOs rating uncertainty as high or very high fell to 38%, down from 41% in the previous quarter – marking the lowest level since Q3 2024.
Despite the improvement in sentiment, geopolitical risk remains the top concern for UK finance chiefs heading into 2026, followed by weak UK competitiveness and productivity. Concerns around energy prices and potential supply disruption complete the top three risks, although this risk has eased slightly compared with the previous quarter.
