AI increases accountants’ use of real-time data

CFOs and finance teams are leveraging an explosion of data and AI technology Drive better business insights. However, according to a new study, Most people are concerned about the integrity of AI analysis

Important reports include: enable financial insights, Research by two of the world’s leading accounting organizations reveals a clear trend toward growing use of real-time operational data, with more than 60% of finance teams increasing their use over the past two years to support better business insights and decision-making.

The shift from retrospective reporting to current and forward-looking insights is being driven by a wider range of data, from real-time operational metrics to unstructured internal text data, and the increased use of AI technology to reshape the way data is analyzed and interpreted.

The global survey of 1,600 finance professionals also revealed real changes in the way finance teams handle data and IT across their organizations. Traditional silos are breaking down, with almost 60% reporting closer collaboration with data and IT teams.

However, research from ACCA and the Australian and New Zealand Institute of Chartered Accountants (CA ANZ) found that 93% of financial professionals are concerned about the integrity and verifiability of insights generated by AI. Issues include AI illusions, inaccuracies, incomplete datasets, lack of transparency, and bias.

These findings highlight the need for increased awareness followed by upskilling in this rapidly developing field.

ACCA chief executive Helen Brand OBE said: “This research shows how finance teams are evolving from retrospective reporting engines to strategic enablers of enterprise-wide insights. This is a great opportunity, but upskilling is key. CFOs and finance teams need to lead the responsible implementation of AI across their organizations, ensuring robust training and governance is in place. Critical thinking, skeptical scrutiny and an ethical approach are essential.”

CA ANZ chief executive Ainsley Van Onselen said: “AI is now at the core of the finance toolkit, but it’s not a shortcut. CFOs and finance teams need to do more than just speed up old processes. You need to sharpen your judgment and create real value. That means investing in structured learning and working more closely with your IT and data teams. Upskilling is not an option. It’s a way to manage risk.”

Data from the survey shows that the skills gap is widening, with 72% of respondents reporting having only basic GenAI skills or no skills at all, while 41% are seeking training or upskilling on their own time.

As real-time data becomes central to decision-making, thinking critically about its limitations is becoming a core skill.

Globally, the survey showed that strategic priorities (45 percent) and regulatory requirements (43 percent) are the main drivers of increased data analysis to generate insights. Despite significant progress, the report highlights key areas that finance departments need to address to improve business insights, including data quality issues (42 percent), lack of the right skills (42 percent), and difficulty integrating multiple sources (40 percent).

Realizing the financial potential of strategically enabling insight depends on developing the right skills and increasing collaboration. This study examined the talent profile of modern finance departments and found that while ambitions are high, execution is threatened by a misalignment of skills and capabilities in areas such as generative AI literacy, predictive analytics, collaboration through coding, storytelling, and data governance/ethics.

This report aims to provide CFOs and finance leaders with actionable recommendations to help their teams deliver trusted insights, manage data effectively, manage AI responsibly, and drive measurable value across their organizations.

Please read the report.

Key messages from the report: