The State of IR in 2026: Elevating IR Through Candid Conversations

The question for investor relations isn’t whether things are changing. It’s how are teams adapting?

Our 2026 State of IR research gathered thoughtful insights from over 200 professionals across the ecosystem. Through a live discussion with IR leaders from Southwest Airlines, SimilarWeb, Docebo, and NextDecade, we brought those findings to life.

The conversation went beyond the data, exploring the real-world decisions teams face every day. Here are some highlights.

AI: from hype to practicality

One of the most striking findings this year was the dramatic acceleration in AI adoption. In 2025, only 6% of IR teams were using AI. Today, that figure has jumped to 42%. But what matters most isn’t the adoption rate—it’s how teams are using AI to drive efficiency and impact. As Danielle Collins, Managing Director of IR at Southwest Airlines, observed:

“I was actually really surprised that it wasn't one hundred percent of IR teams using AI, because there's always something that AI can do to help you do your job better.”

This isn’t about chasing technology for technology’s sake. It’s about IR leaders rigorously evaluating every task, stripping away what doesn’t add value, and leveraging AI where it can make the most difference. Whether it’s transcript analysis, drafting communications, or prepping for meetings, the goal is to free up human capital for the work that matters most—strategy and storytelling.

The enduring fundamentals: targeting and storytelling

While AI dominates headlines, the fundamentals of IR remain unchanged: finding the right investors and telling a story that resonates. The webinar made it clear that progress is being made, but the challenges are real. Targeting is a top concern for small caps fighting for every meeting, while midcaps are focused on refining their narrative to stand out.

Megan Light, VP of IR at NextDecade, underscored the role of precise, trustworthy storytelling in investor relations:

“Sometimes I say that in investor relations, perfect is good, and anything less than perfect is not good. I use [AI] primarily in low-stakes situations...but I don’t trust AI yet with the high-stakes assignments.”

Her message is clear: while AI can boost efficiency for routine tasks, the heart of IR—credible, nuanced storytelling—demands human expertise. In a field where every word matters, it’s essential that IR professionals craft and tailor communications themselves to maintain both accuracy and audience trust.

In-Person engagement: building trust in a digital world

The return to in-person investor meetings and events was another theme that resonated. Virtual meetings offer efficiency, but nothing replaces the trust built face-to-face. As Danielle noted,

“Investors need to trust you. Sometimes, that trust is only established from you getting physically in front of them, them seeing the white of your eyes, and them getting to know who you are.”  

However, Mike McCarthy, VP of IR at Docebo, made a great point about in-person engagements: you never know if people will be in the office these days. Mike explained that his team is keen to leverage virtual meetings, as you can fly to New York or Chicago for a few days, but that doesn’t guarantee the person you’re looking to meet with will be in the office while you’re there. In today’s hybrid world, it’s not as easy as it once was.

But the panel agreed: high-value meetings, whether in-person or virtual, are about meaningful relationships, not just ticking boxes.

Measurement: protecting and expanding IR’s influence

One third of IR teams still operate without formal KPIs, and only a quarter feel they’re measuring the right things. The panel provided practical advice: start with foundational KPIs, align with the company’s strategic roadmap, and have honest conversations with the C-suite about what IR can—and cannot—control. Measurement isn’t just about defending budgets; it’s about demonstrating the real impact IR has on shareholder value and company reputation.

Danielle stressed the importance of KPIs, but more specifically, realistic KPIs.

“If the KPIs are not realistic for where you are in your program, they're going to be unachieved. And what I mean by that, if you don't have KPIs today, or the KPIs you've no noted in your report are foundational KPIs, you shouldn't set up strategic KPIs. Because at the end of the day, you're going to overpromise and underdeliver. Be very pragmatic.”

Adding value through conversation

“Every year, the IR profession evolves — and the State of IR report captures exactly how,” explained Marissa Homere, VP of Marketing at Irwin. “The insights help multiple functions across an organization stay aligned with what's actually happening in the market.”

What sets this conversation apart is its commitment to honest, actionable dialogue. These aren’t vague claims or recycled talking points. The panelists shared real examples, admitted where progress is slow, and challenged each other to think differently.  

You can watch the webinar here.