Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Nearly a quarter of senior finance professionals fear AI could put them out of a job

by September 18, 2023
September 18, 2023
Nearly a quarter of senior finance professionals fear AI could put them out of a job

Almost a quarter of senior finance professionals fear that artificial intelligence (AI) could put them out of a job, despite 24% of finance functions already underway with onboarding the new technology and 51% planning to in the next 12 months.

These are among the findings of new research commissioned by AccountsIQ, the award-winning accountancy SaaS provider.

While there are some concerns about AI, most senior finance professionals see the technology as having a positive impact. Over four in ten (41%) see AI transforming their ability to add value to their business, whilst more than a third – 34% – believe it will help them save time and increase efficiency.

Along with finance leaders, AccountsIQ also surveyed junior finance professionals with a maximum of three years of experience. 82% of this group feel tools, such as ChatGPT, will impact finance teams within the next five years, as currently, 75% of them spend up to a quarter of their time on manual tasks such as data collection.

Tony Connolly, CEO at AccountsIQ, said: “It’s welcome that finance professionals have a largely positive attitude to technology and its impact on their daily work, freeing them to use their hard-won skills to greater effect.

“Automation and AI are destined to deliver major gains for finance teams, liberating them for a far more strategic role so they are no longer seen as a back-office support function. Some professionals may have genuine concerns about AI, but I believe such worries are misplaced.”

AI applications’ more far-reaching analytical capabilities in finance should also help meet the ambitions of all finance professionals who want to contribute to top-level business decision-making in their organisation. The findings show that 25% of senior and 20% of younger professionals are frustrated by their inability to extract insights or business intelligence from the mass of financial data they handle.

Read more:
Nearly a quarter of senior finance professionals fear AI could put them out of a job

0
FacebookTwitterGoogle +Pinterest
previous post
CBI to seek £3m from members within days to avoid financial collapse
next post
Pub closures rise sharply highlighting planned business rate change could decimate sector

You may also like

Biden’s Exit: The Right Move for the Democratic...

July 22, 2024

Next buys Cath Kidston brand for £8.5m with...

March 29, 2023

Labour Warned Over Living Wage Plans

June 18, 2024

Royal Mail trials postbox with parcel hatch, solar...

April 10, 2025

Virgin Atlantic tempts British Airways Executive Club Members...

February 11, 2024

Ted Baker Announces Closure of 15 UK Stores,...

April 9, 2024

HMRC charged 420,000 late filing penalties over past...

January 16, 2024

Brits in EU slide into Brexit banking limbo...

August 15, 2022

Triple lock means state pension set to rise...

September 12, 2023

How Does EV Charging Enhance Business Value?

February 1, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • US and China hold London talks to ease trade war tensions

      June 9, 2025
    • British fathers urged to join landmark ‘dad strike’ over poor paternity leave

      June 9, 2025
    • IVF parents should have right to paid fertility leave, says GMB union

      June 9, 2025
    • Reform UK clashes with Bank of England over interest payments to lenders

      June 9, 2025
    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025

    Categories

    • Business (8,156)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved