AI may be the most transformative trend in accounting and finance, but less than one in 10 accountants believe their organisation is well prepared to benefit!
A new CIMA survey found just 8% of accountants felt their firm was up the managing the AI trend.
The main problem appears to a lack of skills and talent to deal with the challenges. There is also a worry is the doubts about the technology’s maturity.
Andrew Harding, FCMA, CGMA, Chief Executive of CIMA (pictured), said: “The advance of AI tools in the last two years is enabling a paradigm shift in how finance teams operate and the work they can do to generate value for their organisations. While professionals recognise the potential on offer, many today feel underprepared and under-skilled. There’s a clear gap between anticipating disruption and taking action.”
Despite the uncertainty, Harding remains optimistic:“The good news is that CIMA is addressing the skills gap. Earlier this year, we overhauled the CGMA Professional Qualification to embed new technologies such as GenAI across the syllabus and offer a number of resources to help members develop digital finance skills. GenAI is fast becoming a powerful co-pilot for finance professionals, helping to guide decision-making, drive performance, and enhance the value finance business partners bring to organisations.”
