UK CEOs boost AI spend but struggle to scale its value

UK chief executives have increased their focus on technology, AI and data investment for 2026, but only a small minority say their organisations have scaled AI successfully, according to PwC research.

PwC’s 29th UK CEO Survey found 81% of UK CEOs ranked technology, AI and data investment as their top priority for 2026. That compares with 60% a year earlier. The firm said the results show a widening gap between ambition and execution as companies move from experimentation to broader deployment.

The survey also pointed to internal constraints. Half of UK CEOs said they worry their organisation is not transforming fast enough to keep pace with AI and emerging technologies. A further 33% cited bureaucracy as holding back performance, while 29% said technological constraints are actively slowing the business.

Investment focus

PwC reported that 52% of UK CEOs said they are already investing in technology with a focus on growth and competitive advantage. Another 43% said their investments are focused on delivering efficiency and cost saving.

The survey suggested that firms see AI as part of that agenda, but many remain unconvinced their funding matches their aims. Only 33% of UK CEOs said their existing AI investment is sufficient to meet their goals. The comparable figure across the global sample stood at 40%.

At the same time, 30% of UK CEOs said they have seen revenue increase from AI implementation. PwC said the global figure for that measure is 26%.

Skills and governance

PwC’s findings highlighted the groundwork many organisations still need to complete before broader roll-outs. Nearly half of UK CEOs, 49%, said they are actively building internal skills, infrastructure and governance to support AI solutions. A further 29% said they are progressing and optimising those elements.

Work on data was also at an early stage for many respondents. Some 36% said they are progressing their data foundations, while 37% said they are in the early stages of establishing their data foundation.

Leaders reported similar patterns for ethics, compliance and security. PwC said 30% are advancing their approach, and 39% are in the early stages of developing it.

Scaling gap

Despite the increased priority placed on technology and AI, relatively few organisations have reached a stage where deployment delivers value at scale. PwC said 50% of UK CEOs are in the early stages of scaling AI across their business. Another 19% remain in the planning phase.

Just 9% said they have reached a point where scaling efforts deliver value or are being optimised. The survey described this as a signal of how difficult it remains for many businesses to move from pilots to organisation-wide implementation.

Customer-facing AI activity appeared even less mature. PwC said 12% of UK CEOs reported that AI-powered products and services are delivering value or are being optimised. A further 12% said they are in the progression phase. By contrast, 39% said they remain in early-stage development, and 16% said they have no plans to offer AI-powered products or services to customers.

Talent concerns

The survey suggested a more acute challenge for UK companies in hiring for AI-related roles. Only 25% of UK CEOs said they believe they can attract high quality AI talent. PwC said the global figure was 42%.

Alongside hiring issues, respondents flagged organisational friction. PwC said the combination of transformation speed concerns, bureaucracy and technology constraints could limit how quickly companies convert spending plans into operational change.

Agentic AI

The research also tracked interest in agentic AI, which PwC described as tools with greater autonomy and decision-making capability. PwC said 81% of UK CEOs are actively exploring or developing applications of agentic AI, while 16% said they are ruling it out entirely.

Reported deployment remains limited. Only 8% of leaders said they have deployed agentic AI to a point where it delivers value.

PwC positioned the findings as an indication that UK companies plan to spend and experiment, but many still face the practical work of integration, governance and change management.

One brief context point from the survey is the contrast between high levels of stated interest and low levels of value reported at scale.

“Technology is central to CEOs strategy, but outcomes are what count. With global competition intensifying, UK businesses must turn technology investment into real results. AI needs to be a core part of that strategy, driving efficiency today while building for long-term growth. Those with clear goals and the agility to adapt will shape the competitive landscape ahead.

“CEOs investing in both AI and skills adoption are positioning themselves for long-term advantage. As AI moves beyond 'chatbots' to being an active part of how business operate via agentic tools, we are already seeing greater value from organisations using AI as a catalyst for business-led transformation, rather than treating it as a technology project,” said Umang Paw, Chief Technology Officer, PwC UK.

PwC said UK CEOs will continue to weigh investment levels, internal transformation speed and talent availability as they move from pilots towards broader deployment of AI across operations and products.