The majority of finance leaders feel AI could eventually be a threat to senior finance roles, including their own.
This is according to new research commissioned by cloud accounting provider iplicit, which surveyed 250 UK-based mid-market finance leaders on their AI readiness, usage and concerns.
The survey found that over half (51%) feel AI is already a threat to entry-level finance jobs, with 52% claiming AI could eventually impact senior finance roles, too.
This opinion was considerably stronger amongst day-to-day operational roles such as Financial Controllers (74%) vs. CFOs (48%) and VPs / FDs (45%).
Personal and professional concerns
The majority (92%) surveyed admitted a degree of personal or professional concern about adopting AI within their finance function.
Top worries included the need to learn new skills quickly to keep up (36%), the impact on professional reputations if AI makes mistakes (34%), and uncertainty about how it would change career paths (32%).
Again, concerns varied significantly by job role and seniority. Over a third (35%) of Financial Controllers fear feeling less connected to the strategic and analytical side of finance as a result of AI adoption (a fear shared by only 13% of CFOs).
The same percentage of Financial Controllers worry about their role being automated or reduced in scope (a fear shared by only 19% of VPs / FDs).
Rob Steele, CFO of iplicit, commented on the findings: “The data lifts the lid on how finance professionals are really feeling about AI today – and not everyone is on the same page.”
“Senior leadership and those further up the chain of command are less fearful, possibly because they understand AI and its future implications better. In most cases, they’ve been exposed to AI earlier through exec leadership meetings and cross-functional collaboration.”
Changing face of finance
Finance leaders also weighed in on how AI will reshape the profession in years to come.
45% believe there will be higher demand for AI governance and compliance oversight over the next five years. Over the same period, 44% anticipate an increased need for data analysis, technical and digital fluency within the finance team, and 34% believe it will shift hiring priorities, with more focus on tech-oriented finance roles
“The profile of future finance professionals is evolving, and what it means to be a finance professional will undoubtedly change over the coming years”, adds Rob Steele.
“Similar to the emergence of the RevOps (revenue operations) specialist within the modern sales team, someone who can act as a data professor – turning numbers into science – will become equally as sought after for future finance recruitment.”
“Finance professionals will increasingly be tasked with translating boring old accounting numbers into something that’s really valuable for the entire organisation.”
When asked what skills would be most important to the next generation of finance hires, 41% said proficiency with AI and automation tools – seen as most important by CFOs (49%) vs. Financial Controllers (29%).
This was followed by cybersecurity & data governance (39%) and data analysis & interpretation (34%) skills. Only 14% flagged traditional accounting skills as important.
“Like many other CFOs, candidates that have very strong leanings towards technology, an understanding of how systems and data integrate, a grasp on how to drive AI and what APIs are, will become increasingly attractive to me from a hiring and upskilling perspective.”
Commenting on the evolution of his own role, Andy Jackson, Financial Controller at iplicit, added: “We’re moving away from that traditional bookkeeper – the double entry, pen and paper, control accounts.”
“The way finance is heading now, you have to be tech savvy. You have to learn tech and embrace it and use it to your advantage. The role is becoming more technical in that respect – having that IT understanding is increasingly important. But this evolution, in my view, should be viewed as nothing short of an exciting one.”
Encouragingly, as finance teams move from experimenting with AI to fully adopting it, job-replacement fears decline. 32% of those planning to adopt AI were concerned about their role being automated or reduced in scope as a result of the technology, versus just 17% for those who have fully adopted it.
“What advice would you give to someone considering pursuing a job in finance today?”
Anonymous responses from finance professionals
| SENIOR LEADERS | DAY-TO-DAY OPERATIONAL ROLES |
| “Gain as much knowledge of AI technologies as possible through online and in-person learning and development to stay ahead of the curve.”
CFO, Healthcare / Social Care sector |
“Don’t – it’s a job that will not be needed much in the very near future. Other industries would be better to get into.”
FC, Energy & Sustainability sector |
| “Focus on combining strong financial expertise with AI and digital skills, while developing human strengths like ethics, adaptability, and client trust — this balance will keep you valuable in a rapidly evolving industry.”
CFO, Software / Technology sector |
“Remain flexible because technology and finance are always changing.”
FC, Retail / Hospitality sector |
| “Stay curious, build strong analytical and communication skills, and embrace technology, because in today’s finance world, adaptability is just as valuable as expertise.”
CFO, Software / Technology sector |
“Keep abreast on international financial news because the sector is always changing.”
FC, Healthcare / Social Care sector |
| “Get used to AI as fast as possible – because it’s the future and it’s not going away.”
CFO, Housing sector |
“Always value accuracy over speed because mistakes in finance can lead to irreversible long-term consequences.”
Finance Manager, Retail / Hospitality sector |
| “Finance is rapidly evolving as tech progresses, so you have to adapt continuously and learn in order to keep up with the times.”
CFO, Software / Technology sector |
“…focus on technology and data since AI is changing many finance roles. Staying adaptable, learning digital tools and developing people skills will keep them valuable.”
Finance Manager, Retail / Hospitality sector |
New opportunities
When it comes to the opening of new job roles as a result of AI, a more positive picture emerged.
More than two-thirds (67%) of respondents said their company is creating new finance roles because of AI – a claim that was strongest amongst CFOs (75%). The Retail, Hospitality, Wholesale Trade, Distribution and Manufacturing sectors (78%) take the lead here, followed closely by Software and Technology (75%).
And this is playing out in real-time, with 85% of respondents who have fully adopted AI claiming their organisation has already created new finance roles in response.
“If you look at the stats, the numbers of people getting into finance, even graduates, is dropping through the floor – largely due to aggressive messaging about job replacement,” adds Ben Crow, VP of Partnerships at iplicit.
“I feel like the real (and more positive) message should be that careers in finance are here to stay, but you’ll need to embrace the technology of today.”
“While AI is already creating new roles within the finance team, transformation is not going to happen overnight, which ties us back to the need to address the mixed messaging and hype surrounding the technology. Senior finance leaders need to be honest about that timeline and reassure their teams that they have the time (and capability) to upskill and evolve, and that AI will ultimately bring opportunities – not threats.”
