Business leaders are now ‘used to the uncertainty’ and are ‘comfortable’ navigating it now, says Amárach chair Gerard O’Neill.
The forecast is looking up for Irish businesses next year, according to Huawei’s latest business outlook report, which finds that organisations in the country are more optimistic about the future than they were a year ago.
The “uncertainty” at the beginning of 2025 has improved how businesses are navigating the turbulence, with 70pc of those surveyed admitting that they are confident in their ability to handle economic volatility, technology disruption and geopolitical tensions in 2026.
The Huawei Outlook 2026 Report was conducted by Amárach Research, which surveyed nearly 500 senior business decision-makers from Ireland. It was launched yesterday (16 October) at the Huawei Ireland Innovation Day 2025 Roadshow in Dublin.
“The big surprise for me is the contrast between the start of this year and the end of this year,” said Amárach chair Gerard O’Neill. “At the start of this year all the messages, all the research was saying ‘doom and gloom’, ‘panic’, ‘worry’, ‘uncertainty’.
“But in fact, what has happened is – it’s almost as if business leaders and decision-makers have got used to the uncertainty and are now actually quite comfortable navigating that uncertainty,” he explained.
Now, businesses are reporting that they are confident in dealing with AI disruption, cost pressures and even the EU-US trade tensions. Additionally, currency volatility and energy price uncertainty are also considered to be manageable.
This is in stark contrast to last year’s Huawei outlook report which found that business leaders were “pessimistic” about growing revenue in the face of rising costs.
Although some of these challenges still persist, including rising costs and inflation. Meanwhile, businesses also expressed concerns around recruiting and retaining staff, regulatory changes in the EU and the ever-increasing threats arising from cyberattacks.
Upskilling and other big opportunities
Surprisingly, alongside revenue growth and business expansion, 27pc of the surveyed business leaders said they see expansion in employees and customers as one of their biggest opportunities for 2026. This, compared to just 11pc pointing to AI and innovation as big growth points for the coming year.
According to the report, this suggests that Ireland is still at a stage where AI is a focus on internal change rather than external opportunity.
“Businesses are trying to upskill their staff…to use AI to work more efficiently to improve productivity,” O’Neill said. “They’re hoarding talent” to reap the benefits of combining AI with the existing workforce, he explained.
“But at the moment, few of any of the organisations we’ve interacted with are planning to use AI to reduce headcount.”
However, spending priorities are largely focused on technology and investments. According to the report, around half the businesses intend on maintaining their current spending levels on tech, while the other half skews strongly towards increased expenditure.
“The pace of change in digital technologies from AI to quantum computing, 5G, to smart infrastructure, demands that we continue to adapt and invest, said Minister for Enterprise, Tourism and Employment Peter Burke, TD, while addressing an audience of business leaders at the launch of the Huawei report yesterday.
“We’re making a quarter of a billion euro available over five years to help innovative Irish companies to grow and scale,” he added.
But more than 90pc of businesses surveyed for the Huawei report say that businesses should have a bigger say in Government enterprise policy development.
Despite this, more than 50pc of business leaders think the State’s policies across broadband, trade promotion, R&D, skills development and employment regulations are good for growth.
“[The] Government welcomes inputs from business leaders who are leading the way in innovation, including measures contained in the Huawei Outlook 2026 report,” the Minister added.
Ireland recently updated its National Development Plan, setting out investment plans totalling €275bn from 2026 to 2035 – and nearly 30pc of businesses say that the policy gives them a “lot more confidence” to invest in their business in Ireland.
While commenting on future opportunities in Ireland, Huawei Ireland CEO Calvin Lan said that Irish businesses are “pushing a lot” for sustainability and green initiatives. The report finds that more than 60pc businesses expect green tech to improve their operational efficiency and competitiveness.
“In a fast-changing world, technology has a vital role to play in helping them meet sustainability goals. As Ireland moves toward a low-carbon future, solar power is key,” he added.
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