CEOs are betting big on AI. Only 9% call AI agents transformational.
KPMG’s 2026 CEO Outlook surveyed more than 1,300 CEOs of large companies worldwide, 400 of them in the United States. Among the US CEOs, 84% name AI a top investment priority for the next three years, and 65% will spend at least 10% of their capital budget on AI next year.
The returns are more modest. Only 9% say AI agents are transformational for their organisation. 39% report significant efficiency or growth gains, and 43% a moderate impact from targeted use cases. Meanwhile 89% expect to grow headcount over the next three years, while 53% plan reductions in some areas.