Finance leaders wary of AI despite productivity gains

Finance professionals are increasingly exploring the use of artificial intelligence (AI) within their organisations, but many remain hesitant to fully embrace the technology without robust safeguards in place, according to new research commissioned by AccountsIQ.

The study, which surveyed finance leaders across the UK and Ireland, highlights a growing tension within the sector: while AI is widely recognised for its potential to drive efficiency and improve insight, concerns around governance, accuracy and regulatory compliance continue to slow adoption.

Balancing efficiency with control

Finance teams are already using AI tools to support data analysis, automate reporting and streamline routine processes. However, the research shows a clear reluctance to allow AI to operate autonomously in high-stakes financial decision-making.

Instead, organisations are favouring a more cautious approach – leveraging AI to enhance productivity while maintaining human oversight.

This reflects a broader industry mindset where trust in AI remains a critical barrier. While the technology promises significant gains, finance leaders are wary of relinquishing control without clear accountability and transparency.

Regulation and oversight remain key concerns

The findings underline the importance of governance as AI adoption grows.

• 65% of respondents said compliance with current and emerging AI regulation is an important factor when selecting finance software
• 66% expressed concern that AI could reduce human oversight or control within their finance function over the next 12 months
• 64% said they would be comfortable allowing AI to execute actions without human approval—but this drops to 41% for forecasting activities
• 53% said it is very important that AI-generated recommendations are explainable

These results suggest that while finance leaders are open to automation, they are drawing clear boundaries around where and how AI should be used.

“Finance professionals recognise the enormous potential of AI to reduce manual workloads and improve financial insight,” he said. “However, accuracy, transparency and governance remain essential. AI must support finance professionals rather than replace them.”

The research points towards a hybrid model as the likely future of finance, one in which AI handles repetitive, time-consuming tasks, enabling finance teams to focus on higher-value analysis and strategic decision-making.

Ultimately, the study suggests that the success of AI in finance will depend not just on its capabilities, but on how well technology providers address concerns around control, compliance and explainability.

As organisations continue to experiment with AI-powered tools, the challenge will be clear: delivering measurable efficiency gains without compromising the standards of oversight and accountability that define the finance function.