Two thirds of finance professionals believe AI adds more value to roles

Two thirds (66%) of UK finance professionals believe that AI will allow them to add more value in their roles, ACCA has revealed.

In its UK talent trends 2024 report, the global accounting body analysed key areas in the UK finance profession, such as remuneration, staff retention, employee wellbeing, AI and diversity and inclusion.

The survey of over 1,200 UK-based professionals found that 71% would like their employers to provide more training on AI and technology solutions.

Despite the eagerness to gain knowledge on technology within the industry, over two in five (42%) said that they have concerns around the impact of AI in their respective roles.

These concerns include job displacement, the need for upskilling, a change to job roles and the over-reliance in AI technologies.

Furthermore, 22% of those surveyed said they feel "overwhelmed" by the pace of changing technology and the impact of AI on their jobs.

For those working in the big four accountancy sector, a third (33%) agreed with this statement, while 27% and 15% agreed with the statement in mid-tier and small accountancy, respectively.

In the report, ACCA said: "UK respondents are broadly optimistic about the advent of AI in accountancy and less inclined to express concerns on the speed of technology change than respondents in other parts of the world, though some worries are evident, with demand for training and concern about the impact of tech up on last year."

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