A recent Deloitte Private survey highlights that family-owned enterprises are prioritizing AI adoption, board governance, and succession planning to ensure long-term competitiveness. Conducted with 100 family enterprise leaders, the study outlines strategic and operational priorities for the next 12 months, emphasizing technology investment and structured governance.
AI adoption (42%) and tech investments (37%) are top strategic priorities.
Operational goals focus on cost improvement (49%) and productivity (48%).
66% of boards seek or have added members with tech and AI expertise.
Succession challenges include lack of next-gen interest (37%) and skill gaps (31%).
Smaller firms ($100M-$500M) plan more M&A to strengthen supply chains (57%).
Formal governance, like family councils (73%), aligns business and family goals.
Family enterprises are increasingly investing in AI (42%) and technology (37%) to stay competitive. Two-thirds of respondents (66%) have added or are seeking board members with expertise in emerging technologies, particularly AI. However, challenges persist, with 46% citing difficulty finding qualified candidates and 42% noting limited understanding of emerging tech among current board members. These efforts reflect a shift toward leveraging technology to drive innovation and growth.
Succession remains a critical concern, with only 49% of leaders feeling well-prepared for leadership transitions. Key hurdles include a lack of interest from the next generation (37%), unclear selection criteria (31%), and leadership skill gaps (31%). To address these, family enterprises are employing formal education (52%), on-the-job training (48%), and mentorship (45%) to prepare future leaders, ensuring continuity and alignment with business goals.
Mergers and acquisitions (M&A) are a priority, particularly for smaller family businesses with revenues between $100 million and $500 million. These firms are more likely to use M&A to strengthen supply chains (57%) compared to larger enterprises (43%). Additionally, 48% aim to expand market share through M&A, with nearly 60% considering public markets for funding, signaling a proactive approach to growth and resilience.
A strong majority of family enterprises have adopted formal governance structures, including family councils (73%) and governance frameworks (83%). These structures help align family values with business objectives, fostering trust and strategic decision-making. “Family enterprises are navigating a pivotal moment – balancing the need to prepare the next generation of leaders with the imperative to invest in transformative technologies to keep their organizations competitive now and in the future,” said Laura Pearson, US Family Enterprise Leader, Deloitte Private.
The survey underscores the importance of integrating AI, strengthening governance, and preparing for leadership transitions to ensure family enterprises thrive in a dynamic market, preserving their legacy for future generations.
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters for our people, clients, and communities. We bring together distinct talents, technologies, disciplines, and an ecosystem of alliances to help tackle today's most complex business challenges and drive long-term progress. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing 180 years of service, our network of member firms spans more than 150 countries and territories.
TechIntelPro empowers B2B technology decision-makers with the latest industry trends, deep insights, leadership perspectives and actionable intelligence to drive both organizational and professional milestones—and thrive on the tech pulse.