Finance teams step up use of AI, but trust concerns remain – study

Finance teams are increasing their use of real-time data and AI to improve business insight and support decision-making, according to new research from the Association of Chartered Certified Accountants (ACCA) and Chartered Accountants Australia and New Zealand (CA ANZ).

The global survey, based on responses from 1,600 finance professionals, found that more than 60% of finance teams have expanded their use of real-time operational data over the past two years.

The findings point to a shift in finance functions away from retrospective reporting and towards more current and forward-looking analysis.

That change is being driven by access to a wider range of data including live operational metrics and unstructured internal text, as well as greater use of AI tools to analyse and interpret information.

The report also found that finance teams are working more closely with other functions. Nearly 60% of respondents said they now collaborate closely with data and IT teams, suggesting that traditional silos are easing.

However, the growing use of AI is accompanied by widespread concern over the quality of its outputs.

The survey found that 93% of finance professionals are worried about the integrity and verifiability of AI-generated insights.

The issues cited include hallucinations, inaccuracies, incomplete data sets, lack of transparency and bias.

ACCA CEO Helen Brand said: "This is a great opportunity, but upskilling is critical. CFOs [chief financial officers] and finance teams need to lead in the responsible adoption of AI across organisations, ensuring robust training and governance is in place. Critical thinking, sceptical validation and an ethical approach is vital."

The report said awareness of these risks must be matched by stronger skills development in what remains a fast-moving area.

CA ANZ CEO Ainslie van Onselen said: "AI is now a core part of the finance toolkit, but it is not a shortcut. CFOs and finance teams need to use it to sharpen judgement and generate real value, not just speed up old processes.

"That means investing in structured learning and working more closely with IT and data teams. Upskilling isn't optional. It is how you manage the risk."

In Australia and New Zealand, the findings highlighted a skills gap. Around 70% of respondents said they had only basic generative AI skills or none at all.

More than a third also said they had received no formal training in data storytelling.

At a global level, the main factors behind the increase in data analysis were strategic priorities, cited by 45% of respondents, and regulatory requirements, named by 43%.

The report also identified key obstacles to improving business insights. Data quality issues were cited by 42% of respondents. The same proportion pointed to a lack of appropriate skills, while 40% said integrating multiple data sources remained difficult.

"Finance teams step up use of AI, but trust concerns remain – study" was originally created and published by The Accountant, a GlobalData owned brand.