According to an annual Teneo survey of more than 350 public company bosses, more than 68 per cent of CEOs say they plan to spend even more on AI in 2026,

Less than half of current AI projects have generated higher returns than their costs, respondents said, with the greatest success in marketing and customer service and far more trouble in security, legal and human resources.

Teneo surveyed about 400 institutional investors, finding that 53 per cent expect AI initiatives to start delivering returns within six months.

Among CEOs at companies with revenue of $10 billion or more, 84 per cent believe it will take more than six months before AI investments show a return.

Despite the hand-wringing, 67 per cent of CEOs think AI will increase entry-level headcount, while 58 per cent expect senior leadership numbers to grow as well.

The survey was conducted from mid-October to mid-November and covered CEOs from public companies with revenue of $1 billion or more.

Confidence in the broader economy is wobbling among the biggest players, with 31 per cent of large company CEOs expecting global improvement in the first six months of 2026, down from 51 per cent a year earlier, largely thanks to trade worries and geopolitical noise.

Smaller company CEOs are far perkier, with 80 per cent expecting an improvement in the new year, only slightly down from 83 per cent a year ago.

Dealmaking optimism remains strong, with 78 per cent of CEOs predicting more merger and acquisition activity in 2026, after 83 per cent correctly called a busier 2025.

Global M&A volumes so far this year are up more than 40 per cent, according to Dealogic, which suggests someone, somewhere, still thinks this all adds up.