Deloitte CFO Survey Q2 2026: Growing AI optimism
Deloitte’s latest survey of UK chief financial officers (CFOs), conducted between 1 and 13 July 2026, shows that CFOs are becoming more optimistic about AI’s impact on business.
Finance leaders have become progressively more optimistic about AI improving their own businesses’ performance as 73% now report an improvement in AI optimism over the last 12 months, compared to 59% in Q4 2025 and 39% in Q3 2024.
Nearly all CFOs (96%) expect to see a rise in investment in digital technology and assets by UK businesses over the next five years, with 93% expecting a rise in the next 12 months.
More than three quarters (78%) expect greater productivity and improved business performance over the next five years. With many corporates now well into their AI deployment programmes, half (50%) of respondents also expect productivity gains over the coming 12 months.
Uncertainty eases
The survey reports an easing in perceptions of external uncertainty. Less than half of CFOs (47%) now rate the level of external financial and economic uncertainty as high or very high, below the post-pandemic average and well below readings seen in the summer of 2022, after Russia’s invasion of Ukraine. Reduced uncertainty has fed through to improvements in confidence and risk appetite amongst finance leaders.
Geopolitics remains top external risk
CFOs were again asked to rate on a scale of 0-100, the risk posed to businesses from a range of external factors. Geopolitics came out on top, as it has done for 16 of the last 18 quarters. However, these concerns have eased slightly, with a drop in the average rating from 79 in Q1 2026 to 68 this quarter.*
This was followed by poor productivity and weak competitiveness in the UK economy (average rating was 63 this quarter compared to 62 in Q1); and higher energy prices or disruption to energy services (average rating 60 this quarter compared to 70 in Q1).
Debapratim De, chief economist at Deloitte UK, said: “The global economy has, so far, weathered the shock from the conflict in Iran better than many had feared. Corporate sentiment is responding to this relative resilience.
“However, concerns over geopolitics and domestic competitiveness remain elevated. CFOs continue to prioritise cost reduction and cash control in this environment.”
Cost control cited as main hindrance to graduate hiring
When asked about key factors affecting the hiring of graduates, CFOs reported a ‘wider business impetus for cost control’ as the number one reason that reduced graduate hiring in the past 12 months (net 62%) as well as for the year ahead (net 64%).
The use of AI and outsourcing were cited as the second and third biggest dampeners of demand for new graduates over the next 12 months, at net 47% and net 33% respectively.
Darren Graves, Deloitte UK CEO, added: “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.”