Laura Elliston, Senior Finance Automation Strategist at Quadient
Artificial Intelligence (AI), once feared as a job threat, has rapidly become a pivotal tool in enhancing the careers of finance professionals. Today, AI is not only automating repetitive tasks but fundamentally transforming finance roles, enabling professionals to focus more strategically and position themselves as indispensable to their organisations.
UK financial services firms recognise this potential for transformation, with 75% actively using AI, and a further 10% planning implementations soon. This widespread adoption underscores AI’s integral role in reshaping the finance sector, highlighting its importance as a strategic enabler rather than a job replacer.
AI’s immediate impact on careers and skills
AI’s immediate benefit is evident through its capacity to automate previously cumbersome tasks such as invoice processing, payment matching, and cash applications. For instance, finance teams can use AI to automatically extract key data from documents and verify details against purchase orders to remove errors and increase efficiency. Already, finance teams are rapidly adopting AI to support these processes, with Gartner revealing a jump from 37% to 58% in teams using AI between 2023 and 2024. This increase demonstrates a clear recognition among finance departments of AI’s capability to significantly reduce administrative burdens, freeing professionals to redirect their attention toward more complex and rewarding analytical tasks.
By automating routine operations, AI can not only boost productivity but also enable finance teams to develop advanced analytical and strategic capabilities. Research found that four out of five finance workers report improved job performance due to AI adoption, and three out of five report enhanced job satisfaction and reduced stress.
This reflects AI’s dual impact: operational efficiency and skill enhancement. AI can drive professionals towards roles that require strategic financial forecasting, nuanced risk assessments, and proactive revenue management. These competencies position finance professionals as strategic assets capable of making substantial organisational impacts.
From analyst to advisor
AI’s transformative potential extends beyond productivity; it can significantly elevate finance professionals from analysts to strategic advisors. AI-driven tools can provide real-time, highly accurate financial forecasts and comprehensive reports, empowering finance teams to directly influence executive-level decision-making. For instance, finance directors can use AI to analyse historical data alongside current market trends to predict cashflow. This can then be used to identify opportunities for investment or growth. AI not only enhances technical processes but also delivers significant strategic value, enabling finance professionals to advise effectively on crucial business strategies such as cash management, vendor relations, and customer retention.
Beyond advancing the skills of employees, insights from AI can have a profound impact on wider business goals, enabling companies to make better data-driven decisions. In fact, research found that 57% of finance leaders report that AI’s return on investment is exceeding expectations.
This isn’t only a matter of strategy, it’s also about allowing people more time for the creative thinking we excel at. For instance, an AI can identify historical patterns, and recommend a course of action that matches what’s succeeded before. If a high-value customer is paying later and later, the AI might spot the trend and advise sending reminder emails more often. What humans add is the ability to think outside the box and take new approaches. In the example above, a human might recognise sending more and more reminders will only aggravate the customer, and instead investigate possible sources of dissatisfaction; study business news for hints of a change in finances; or work with customer contacts to dig into the issue. The AI spotted the trend and the issue, but the solution is entirely human.
Practical examples of the benefits of AI include substantial reductions in Days Sales Outstanding (DSO) through predictive analytics, accurately forecasting payment timelines, and improving cash flow management. Streamlined invoicing and efficient payment processes through AI can also enhance vendor and customer relationships, reducing the likelihood of disputed or late payments. These developments demonstrate that AI is not merely a back-office technology but a critical tool for finance professionals aiming to shape broader business strategies.
Long-term career progression and leadership opportunities
The continuous evolution of AI technologies promises significant opportunities for career advancement, especially into senior leadership and cross-functional roles. As AI becomes more widely adopted, the demand for employees with the skills to effectively use the tool is skyrocketing.
This goes far beyond basic implementation of AI at a foundational level, but in leadership roles where AI can be used at a macro level to improve client retention or manage cross-border transactions. In fact, jobs requiring specialist AI skills are growing at a rate 3.5 times faster than other roles. This underscores the critical importance of acquiring AI competencies for professionals who aim to advance into leadership positions.
Future applications, such as multilingual financial management systems, automation of complex global regulatory compliance, and sophisticated financial modelling, will further enhance the skill sets required for leadership roles. These innovations equip finance professionals with the capability and confidence to manage diverse, global teams and make strategic, data-driven decisions with significant business implications. For example, with the help of AI analytics, CFOs can identify a major client that is predicted to leave and immediately create a retention strategy that is tailored to that client’s needs. Professionals equipped with robust AI skills are increasingly seen as key candidates for senior management roles, making AI literacy a critical career differentiator.
Preparing for a future shaped by AI
Adopting AI in finance is not merely about operational improvement; it represents a fundamental shift in career trajectories. AI is transforming finance roles from transactional to strategic and analytical. Organisations and finance professionals embracing AI today are effectively preparing themselves for the demands of tomorrow’s business landscape. Active engagement with AI technologies and ongoing training is essential, as it equips professionals with advanced competencies, enhances their job satisfaction, and positions them as invaluable strategic assets to their organisations.
