FinanceAugust 15, 2023

FSN report: Future of artificial intelligence and machine learning in the finance function

Global Survey 2022

What does AI and machine learning adoption actually look like for finance? In this report, FSN explores finance's feelings about AI.

AI is the next frontier of the technology age, but is it the next frontier for finance? The answer is a resounding yes. FSN's survey revealed that 71% expect substantial adoption by the decade's end. 

Unfortunately, the survey also indicated that most teams are not ready.

  • Finance professionals don't feel personally equipped to manage AI: 61% have had no AI or machine learning training.
  • Finance teams lack real-world use cases: 63% felt the scarcity of real-life examples of AI in practice was a stumbling block.
  • Finance teams are wary about results: 50% voiced concerns about the lack of transparency in technical solutions and how crucial algorithms are configured.

In this report, FSN explores the uptake of artificial intelligence and machine learning in finance and what's holding back adoption, while CCH Tagetik shares what software adoption can look like in practice.

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