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Two thirds of UK finance professionals have reported feeling positive about AI, seeing it as a tool to add more value to their roles and reduce data-heavy tasks, according to recent research conducted by ACCA.
Some 71% of those surveyed are keen for more training on how to best use AI, which ACCA said demonstrates that finance professionals want to understand and utilise AI effectively.
The pace of change in technology at work was a concern for one fifth (22%) of respondents, who felt overwhelmed by the rapid rate at which technology was advancing and changing.
However, the global average for this was 37%, indicating that UK finance professionals feel more prepared and resilient in the face of change than their global peers.
Other concerns raised by respondents around AI included job displacement, qualifications taking longer, and the risks of AI such as privacy, security and ethical use of data, as well as potential issues of over-reliance on AI.
Alongside AI, ACCA’s survey revealed that finance and accounting employees in the UK are still very much embracing a hybrid work model, with 64% reporting this was their working pattern, almost a third higher than the global average of 41%.
Joe Fitzsimons, senior manager of policy and insights at ACCA UK, said: “The responses from UK finance professionals in this survey around AI reflects a growing conversation about how technology will change the future of work. It is positive to see that two third of respondents are optimistic about the role of AI and even more are keen to understand it more through training and upskilling.
“While UK finance professionals are more optimistic than their global peers, there is still a long way to go in full rollout of AI in organisations, and ACCA will continue to provide insight, research and support for a smooth transition.”
Gemma Gathercole, strategic engagement lead for England at ACCA, added: “The UK offers a diverse range of opportunities for those finance professionals. It remains a competitive landscape thanks to the high level of hybrid working available, allowing for improved work life balance for many.”
