Confidence in artificial intelligence (AI) among finance leaders in the UK has seen a notable increase, with 59% of CFOs expressing an optimistic view of AI's impact on performance, a rise from 39% last year. Deloitte’s latest UK CFO Survey indicates that 96% of finance chiefs expect to boost investments in digital technology over the next five years, alongside 77% anticipating enhancements in productivity and overall business performance during this timeframe.
As finance functions adopt AI, automation is alleviating routine tasks, enabling teams to concentrate on strategic initiatives. Aidana Zhakupbekova, CFO of Rydoo, highlights the critical role of AI in shaping performance and capital expenditure decisions. She notes that companies that leverage AI effectively are likely to see substantial benefits, while simply investing in new technologies is insufficient for achieving productivity gains.
Experts warn that the integration of technology must be carefully managed to avoid workflow disruptions. Successful finance departments are those that adopt AI tools seamlessly and empower their teams, ensuring that these advancements serve as a catalyst for maintaining a competitive edge in an evolving landscape.