Cork firms optimistic about AI, but dedicated business supports key to further growth

Dedicated business supports to enable AI deployment and training are critical to support organisations in managing AI and digitalisation, according to the results of Cork Chamber’s Q3 2026 Economic Trends Survey. 85% of businesses report that AI has impacted their business operations over the past 12 months, with many firms predicting that AI’s future evolution will have a positive impact on business efficiency and competitiveness.

Sponsored by PTSB, the Economic Trends Survey of Chamber members measured economic outlook and business sentiment. This edition of the survey also sought the views of members on the impact of AI on Cork businesses, from investment in tools to barriers to adoption, and the future evolution of AI in the workplace.

The Q3 2026 Economic Trends Survey found that:

• Dedicated supports for SMEs to enable AI deployment and training emerged as the most important government support for organisations when it comes to managing AI and digitalisation.

• 47% of respondents report investing in AI training in the past 12 months, via in-house, external or government-supported programmes.

• Lack of expertise, uncertainty about the business case for AI and data protection concerns were cited by respondents as the top three barriers to greater AI usage.

• 85% of businesses report that AI has impacted their business practices and operations over the past 12 months.

• Almost a quarter of respondents report improved business growth, productivity or competitiveness as a result of AI usage.

• Looking to the future, many firms believe the continued evolution of AI will result in improved business efficiency and competitiveness. However, increased training costs are also expected, alongside an adaptation of business practices in response to changing market conditions.

AI results in enhanced competitiveness, yet training remains a key concern
Almost a quarter of responding businesses report that AI has resulted in improved business growth, productivity or competitiveness in their organisation, with AI usage highest in areas such as administration, communications, finance and research.

Cork Chamber President, Susie Horgan, commented, “AI is already having a positive impact on Cork businesses, with many reporting enhanced growth and competitiveness and predicting further improvements as digitalisation continues. Cork businesses are clearly ambitious about the opportunities offered by AI, and this ambition must now be matched by government support and investment.

“The results of this quarter’s survey underline the importance of sufficient training, advisory supports and grant funding for organisations seeking to enhance their AI capabilities. Nearly half of all respondents have already invested in training and upskilling to support organisational AI deployment; responding businesses also ranked dedicated supports to enable AI deployment and training as the most important government measure required to support organisations in managing AI and digitalisation, particularly for SMEs.”

Increase in business confidence despite ongoing cost pressures
Confidence among Cork businesses remains high, with 82% of respondents expressing confidence in the Irish economy at the close of Q3 2026, an increase on 73% in the last quarter. Concerns regarding the cost of energy and raw materials, as well as geopolitical uncertainty, continue to be cited by respondents as the top threats to business growth.

Stephen McCarthy, Business Banking Manager at PTSB, said, “Ongoing confidence in the Irish economy is evident among Cork businesses, demonstrating the continued competitiveness and adaptability of the regional economy in spite of concerns regarding energy costs and geopolitical uncertainty.

“Responding businesses are also optimistic as we look ahead to the final quarter of 2026; 60% of respondents predict an increase in turnover in the final quarter of this year. The majority of those surveyed, 52%, also expect to increase their headcount over the next 12 months, up from 42% in Q2 2026. Overall, this quarter’s results paint a positive picture, with many Cork firms on an upward growth trajectory.”