Finance Leaders Cautious About AI Despite Recognising Productivity Benefits, New Research Reveals

WHY THIS MATTERS
AccountsIQ’s research reinforces a key theme emerging across financial services: AI adoption is advancing, but trust and governance are still the limiting factors. While finance teams are already using AI for areas like reporting, data analysis and process automation, there is clear hesitation when it comes to higher-stakes decisions such as forecasting or autonomous execution. Concerns around accuracy, regulatory compliance and loss of human oversight are slowing the transition from experimentation to full-scale deployment.

Finance professionals recognise the potential of artificial intelligence to transform their work, but many remain cautious about allowing the technology to operate without human oversight, according to new research commissioned by cloud accounting platform AccountsIQ. 

The study, which surveyed finance leaders across the UK and Ireland, found that while AI is increasingly being explored within finance teams, adoption remains slow and cautious, due to concerns around accuracy, governance and regulatory risk. 

Finance teams are primarily using AI to support data analysis, automate reporting and streamline routine processes. However, many organisations are reluctant to rely on AI for critical financial decisions without human validation. 

The findings suggest that while AI could significantly increase efficiency within finance departments, trust in the technology remains a major barrier to wider adoption. 

Key findings include: 

• 65% of respondents stated that compliance with current and emerging AI regulation is important when selecting finance software  

• 66% of those surveyed were concerned that AI adoption could reduce human oversight or control within their finance function over the next 12 months  

• 64% stated they would be comfortable allowing AI to execute actions without human approval.  However, this figure dropped to 41% when it came to forecasting 

• When asked how important it is that AI-generated recommendations in finance software are explainable, 53% said it was very important 

Commenting on the findings, Darren Cran, CEO of AccountsIQ said the research highlights the importance of designing AI solutions specifically for finance teams. 

“Finance professionals recognise the enormous potential of AI to reduce manual workloads and improve financial insight,” said Cran. 

“However, accuracy, transparency and governance remain essential. AI must support finance professionals rather than replace them.” 

According to the research, finance leaders see the greatest value in AI tools that enhance decision-making rather than replace it. 

Instead of fully autonomous systems, organisations favour solutions that provide transparency, clear audit trails and human approval controls. 

The research suggests that the future of finance will involve a hybrid model where AI automates routine processes while finance teams focus on higher-value analysis and strategic decision-making. 

As organisations continue to experiment with AI-powered tools, the challenge for technology providers will be developing systems that deliver efficiency without compromising control or compliance. 

FF NEWS TAKE
AI in finance isn’t being held back by capability—it’s being held back by trust.

The future isn’t fully autonomous finance teams, but human-led operations augmented by AI. Vendors that focus on transparency, auditability and control—rather than pure automation—will be best positioned to win over cautious finance leaders and unlock broader adoption.

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