Large UK businesses are showing renewed confidence in technology as a driver of growth, with artificial intelligence moving firmly into the financial mainstream, according to Deloitte’s latest UK CFO Survey. While economic and geopolitical uncertainty remains a concern, the findings suggest that senior finance leaders increasingly see digital capability as central to productivity gains and medium-term performance.
Technology investment stands out as the survey’s clearest message. Almost all CFOs surveyed, 96 percent, expect UK companies to increase spending on technology over the next five years. More than three-quarters believe this investment will improve productivity and overall business performance. Notably, digital spending is no longer viewed as optional or cyclical. Instead, CFOs appear to be treating it as a long-term structural commitment, comparable to capital investment in earlier industrial eras.
At the heart of this shift is artificial intelligence. Optimism around AI’s ability to improve organisational performance has risen sharply, with 59 percent of CFOs now saying they are more positive about its impact, up from 39 percent in the third quarter of 2024. This jump suggests AI has moved beyond pilot projects and experimentation into a phase of broader financial confidence.
However, the survey also shows that enthusiasm for AI is being matched with continued caution. Risk appetite remains relatively low at 15 percent, well below the long-term average of 25 percent. This indicates that while CFOs are backing AI, they are unlikely to support open-ended or poorly defined initiatives. Instead, finance teams are expected to favour tightly governed projects with clear productivity metrics, particularly those that automate processes or improve forecasting and financial control.
The findings also underline a more active role for CFOs in shaping digital strategy. Rather than simply approving IT budgets, finance leaders are increasingly acting as stewards of technology investment. For IT teams, this means sustained funding is likely, but so is closer scrutiny. Business cases will need to clearly link technical capability to measurable financial outcomes.
Despite improving sentiment, the broader business backdrop remains challenging. Overall business confidence is still negative at minus 13 percent, below its long-term average. Capital expenditure is protected but not aggressively prioritised, with only 17 percent of CFOs describing it as a strong focus. This suggests that while technology investment is favoured, projects seen as speculative or weakly governed may still struggle to gain approval.
External uncertainty also continues to weigh on decision-making. More than a third of CFOs rate their level of uncertainty as high, with geopolitics cited as the leading risk by 65 percent of respondents. Concerns about UK competitiveness and productivity are close behind. As a result, areas such as systems resilience, data security, energy efficiency, and supply-chain visibility are likely to remain high on board agendas alongside AI-driven efficiency efforts.
A key theme running through the survey is the importance of people in making technology work. Deloitte highlights that AI’s value depends on how well it is combined with human skills. Although not quantified in the data, this reinforces the need for training, change management, and strong governance to ensure new tools deliver real benefits.
Overall, Deloitte’s CFO Survey points to a pragmatic but decisive turn toward technology-led productivity in the UK. Confidence in AI is rising, investment is being protected, and finance leaders are taking a more hands-on role in digital strategy. The message is clear: technology will be funded, but only where it can demonstrate credible, measurable business value.
