Business owners around the world are preparing to increase spending on artificial intelligence despite economic and geopolitical uncertainty. A new HSBC survey indicates that respondents plan to allocate the equivalent of more than one-fifth of annual revenue to AI investment on average over the next 12 months.
The study, conducted by Ipsos UK for HSBC, covered 3,085 business owners with at least $2 million in investable assets across 18 markets. One-third of the respondents had net worth above $100 million.
According to the survey, 79% expect their companies to increase investment in AI during the coming year. Across the sample, planned spending was equivalent to an average 21% of annual revenue. HSBC estimates that this translates into a combined investment ambition of around $367 billion.
AI investment is not expected to translate directly into job cuts
The employment picture is more mixed than the common assumption that AI spending automatically means lower headcount. Some 44% of respondents expect AI adoption to increase employment in their companies, compared with 23% who expect staffing levels to fall.
Companies are increasingly using AI in customer service, sales, marketing, software development, data analysis and back-office processes. For many owners, the technology is becoming part of a broader expansion strategy rather than a stand-alone cost-cutting project.
Business owners remain optimistic about growth
The survey found that 95% of respondents had a positive outlook for their businesses. Mergers and acquisitions are also high on the agenda: 83% said they were considering an M&A transaction, while 43% were looking at expansion into new markets.
Internationalisation is already common among the group surveyed. Seventy-two percent of respondents operate in more than one country, which increases the importance of technology that can scale across markets and business functions.
AI spending competes with other investment priorities
Large AI budgets do not eliminate the need for investment in people, cybersecurity, data infrastructure and conventional digital transformation. For many companies, the challenge is increasingly how to connect AI tools with existing systems and processes while maintaining governance and measurable returns.
The results also reflect the profile of the research sample: these are owners of businesses with substantial personal investment assets, so the findings should not be treated as representative of all small and medium-sized companies. They do, however, show how strongly AI has moved into capital-allocation decisions among wealthier business owners.
About the study: Ipsos UK surveyed 3,085 business owners on behalf of HSBC between 1 April and 15 May 2026. Respondents had at least $2 million in investable assets; 1,101 had net worth above $100 million. The survey covered mainland China, France, Hong Kong, India, Indonesia, Kuwait, Malaysia, the Philippines, Qatar, Saudi Arabia, Singapore, Switzerland, Taiwan, Thailand, the UAE, the UK and other participating markets.
