July 30 ,2018 | by LSBF Blog Staff

Research calls for more finance professionals to implement AI systems

Finance professionals to implement AI systems

Research from recruitment specialist Reed Accountancy & Finance is calling for more finance professionals to adopt artificial intelligence (AI) systems.

The report surveyed more than 600 UK finance professionals to explore the impact that AI is having on the workplace and found that just 4% of businesses have implemented AI systems.

Positive

Reed Accountancy & Finance highlighted the importance of AI in the finance industry, stating that faster adoption of technology is needed to enable businesses to remain competitive and attract skilled workers.

Despite more than a third of finance professionals being concerned that AI will lead to job losses, some were feeling positive about the technology, with 32% believing that it will help to boost productivity and efficiency.

The report showed that finance professionals are willing to adopt new technologies, with more than 45% saying that they are feeling enthusiastic about AI in the workplace.

Competitive

Reed Finance’s Director Rob Russell commented on the benefits of AI, stating that its capabilities will enable businesses to boost efficiency and work to capacity while also removing simple administration duties for employees. He said that businesses must invest in the technology in order to remain competitive in the UK and worldwide.

Russell said that while AI and robotics are going to naturally replace some job roles, it should be remembered that more job roles will be created. He added that humans will always be needed to operate this technology, and finance professionals can future-proof their skills by concentrating on business partnering and developing commercial value.

LSBF Blog Staff

The official profile of the World's Business School. Follow us on Twitter at @LSBF

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