A new reports reveals that Irish CEOs are confident about growth over the next 12 months despite volatility around the world, with geopolitical risk now at the top of their list of concerns.
EY Ireland’s latest CEO Outlook Survey surveyed 1,200 executives globally, including 40 CEOs in Ireland.
EY said that 92% of Irish CEOs are optimistic about revenue growth, with the same proportion confident in their competitive position over the next year.
This compares with 86% of global CEOs in respect of revenue growth and 80% on competitive position.
Geopolitical tension, instability and conflict stands out as the most significant risk facing Irish CEOs, with 70% citing this among their top two concerns.
This is followed by macroeconomic volatility (42%), trade and supply chain disruption (22%), and talent and capability gaps (16%).
EY said a similar pattern is seen globally, although at lower levels overall, with 56% of global CEOs ranking geopolitical risk among their top two concerns, followed by macroeconomic volatility (31%), technology disruption including AI-related risks (23%), and trade and supply chain disruption (22%).
According to today’s research, 84% of Irish CEOs report increased AI investment compared to last year, with the focus shifting from experimentation to the expectation of measurable results. This mirrors a global trend, where 80% of CEOs are also increasing investment in AI.
CEOs in Ireland are now expecting AI to deliver measurable results, with 68% using standard metrics to measure and report on AI impact across major projects.
Meanwhile, 60% expect large-scale AI reskilling and upskilling of existing employees to be among the two most significant workforce impacts over the next three years, while just 10% say that it will reduce hiring in certain roles.
Today’s report suggests that skills availability defines the main obstacle with almost 38% of Irish CEOs identifying “cultural resistance to change” as the main barrier to deriving value from AI. Globally just 16% of CEOs identified cultural resistance as a barrier.
Helena O’Dwyer, Partner and Head of Strategy at EY-Parthenon Ireland, said that Irish CEOs are navigating a complex, unpredictable and rapidly evolving landscape.
“The confidence in their own growth prospects is real, and there is a track record over the past decade of successfully navigating global uncertainty with confidence,” she said.
“Even still, the pace and scale of the geopolitical upheaval is extraordinary, and geopolitical risk is no longer a background concern; it is a day‑to‑day operating reality, shaping decisions on costs, supply chains, capital and growth,” she added.
Carol Murphy, Partner, Head of Markets at EY Ireland, said that CEOs increasingly are not asking whether to invest in AI, they are asking what it is delivering and what comes next.
“The focus has shifted firmly to results, and that’s starting to change how work is organised across businesses. We’re seeing companies move beyond pilots and build AI into core operations, but that shift also brings a workforce challenge,” she said.
“Many organisations know they need to reskill and redesign roles to make the most of AI, but progress isn’t always straightforward. There can be resistance to change at all levels, and for smaller and mid-sized businesses in particular, training and transformation have to happen in step with day-to-day delivery,” she added.