The European Central Bank (ECB) has recently indicated that Euro area businesses are taking up artificial intelligence, yet the process remains highly uneven, according to a recent analysis of firm-level survey data. Drawing on two specialized modules of the Survey on the Access to Finance of Enterprises conducted in mid- and late 2025, researchers examined responses from roughly 6,000 companies across 12 countries.
The ECB pointed out that the overall results paint a picture of broad but shallow engagement: about seven in ten firms report some form of AI activity, yet only a small fraction—around seven percent—describe their use as substantial.
Adoption levels differ sharply by location.
Companies in the Netherlands, Finland and Austria show the highest rates, exceeding 80 percent, while those in Italy and Ireland lag, with figures closer to or below 65 percent. Firm characteristics also matter.
Larger enterprises and younger businesses, especially those operating in information and communication technology or research-oriented fields, stand out as frontrunners.
In contrast, smaller firms, construction companies and older family-owned entities are more likely to remain on the sidelines.
When asked why they deploy AI, most users point to operational gains.
Roughly one-third cite improvements to core processes such as data analysis or automation, while more than a quarter highlight enhancements to supporting activities.
Cost savings and support for research or product development rank lower, though these motives grow more prominent among advanced adopters and technology-focused sectors.
Barriers, meanwhile, center on practical constraints.
Shortages of skilled staff top the list for many non-users and limited users, followed closely by worries over data privacy, ethical issues and difficulties integrating new tools with existing systems.
These obstacles shift depending on a firm’s size, sector and stage of adoption.
Financing patterns reveal a heavy reliance on internal resources.
Own funds emerge as the strongest predictor of both current use and planned spending, with grants and subsidized loans also playing important supporting roles—particularly for smaller companies.
Conventional bank credit shows weaker links to future AI outlays, underscoring the challenges of funding intangible investments within Europe’s predominantly bank-based financial system.
Looking at business outcomes, intensive AI users report more optimistic outlooks.
They anticipate stronger growth in sales and capital spending, and they plan higher selling prices.
Productivity appears elevated among firms in knowledge-intensive industries, even at moderate levels of use, though the relationship is less clear across the broader economy.
Importantly, the data show no signs of workforce reductions; instead, AI engagement correlates with expectations of employment growth, pointing to complementarity rather than substitution so far.
Inflation expectations remain largely unaffected.
Looking ahead, firms allocate an average of nine percent of next year’s investment budget to AI, with the share rising markedly among current heavy users.
An experimental element of the survey further revealed that most companies underestimate rivals’ AI activity by nearly 20 percentage points.
When provided with accurate information, respondents raised both their perception of competitive pressure and their own planned outlays.
The research findings now appear to suggest that AI is spreading quickly yet remains concentrated among better-positioned firms and countries.
Wider productivity and growth benefits will now depend on deeper diffusion. Addressing skill gaps, improving access to suitable finance and reducing informational frictions could help accelerate the next phase of adoption across the euro area.