93 per cent of finance professionals wary of AI insights despite wider adoption: ACCA report

NEW DELHI: Artificial intelligence may be transforming finance, but trust still has some balancing to do. A new global study has found that while finance teams are increasingly relying on AI and real-time data to improve decision-making, an overwhelming majority remain concerned about the reliability of AI-generated insights.

According to the Enabling Finance Insight report by ACCA and Chartered Accountants Australia and New Zealand, 93 per cent of finance professionals are worried about the integrity and verifiability of AI-generated analysis. Concerns range from AI hallucinations and inaccurate outputs to incomplete datasets, bias and a lack of transparency.

The findings are based on a global survey of 1,600 finance professionals, which also highlights a growing shift in how finance functions operate. More than 60 per cent of respondents said they have increased their use of real-time operational data over the past two years, moving beyond historical reporting towards current and predictive business insights.

The report suggests finance teams are also working more closely with technology functions. Nearly 60 per cent of respondents reported stronger collaboration with data and IT teams, signalling the gradual breakdown of traditional organisational silos.

“As organisations embrace AI and real-time data to support decision-making, a core message is the unique position of finance to lead responsible AI adoption across the organisation,” said ACCA director, India, Md. Sajid Khan. He said finance teams are well placed to define business use cases for AI, measure returns on investment and establish robust governance frameworks.

ACCA chief executive, Helen Brand, said finance functions are evolving into strategic business partners rather than simply reporting historical performance. However, she stressed that responsible AI adoption will require strong governance, continuous training and critical thinking to validate AI-generated outputs.

Echoing those concerns, Chartered Accountants Australia and New Zealand chief executive officer, Ainslie van Onselen, said AI should enhance professional judgement rather than replace it. She added that organisations need to invest in structured learning and closer collaboration between finance, IT and data teams to manage emerging risks.

The survey also revealed a widening skills gap. Around 72 per cent of respondents rated their generative AI skills as either basic or non-existent, although 41 per cent said they were pursuing AI training independently.

Beyond AI, finance leaders identified improving business insight as a broader challenge. Data quality issues and shortages of relevant skills were each cited by 42 per cent of respondents as major obstacles, while 40 per cent pointed to the difficulty of integrating information from multiple data sources.

Globally, strategic priorities and regulatory requirements emerged as the biggest drivers behind increased investment in data analysis, cited by 45 per cent and 43 per cent of respondents respectively.

The report concludes that as finance functions become increasingly data-driven, success will depend not only on adopting AI tools but also on strengthening governance, improving data quality and equipping finance professionals with skills in AI literacy, predictive analytics, data storytelling and ethical oversight.