Finance leaders in the UK are embracing AI to transform their operations, with many seeing significant efficiency gains following its growing use across their teams.
According to a 2026 AI productivity report from Lloyds Group, 66% of UK businesses have invested in AI, with 87% seeing an increase in productivity. Furthermore, 59% of UK CFOs are reportedly more optimistic about AI improving performance.
That said, despite growing recognition of AI’s potential benefits, it seems that many leaders are hesitant to adopt and deploy the technology without human oversight.
New research commissioned by cloud accounting platform AccountsIQ, which surveyed finance leaders across the UK and Ireland, has found that while AI is being explored within finance teams, adoption remains slow and cautious. This is due to concerns around accuracy, governance and regulatory risk.
How finance teams are actually using AI to drive productivity. Most teams are primarily using AI across areas where there are proven benefits and the risks are manageable, including data analysis, automating reporting and streamlining routine processes. AI is being used to reduce the time spent on manual tasks such as reconciliations and data consolidation, freeing up time for more important tasks.
Yet, some finance leaders are putting the brakes on AI adoption, with organisations reluctant to embed it into judgment-driven areas such as forecasting or financial decision-making, due to the risk of errors and concerns around lack of control.
Can AI be trusted?
Trust in AI remains low across the UK finance industry. Findings from AccountsIQ’s recent study suggest that while AI could significantly increase efficiency within finance departments, trust in the technology remains a major barrier to wider adoption.
Key findings from the study included that:
- 66% of those surveyed are concerned that AI adoption could reduce human oversight or control within their finance function over the next 12 months.
- 64% state they would be comfortable allowing AI to execute actions without human approval. However, this figure dropped to 41% when it came to forecasting.
- When asked how important it is that AI-generated recommendations in finance software are explainable, 53% said it was very important.
Based on the results, the majority of finance teams are in favour of AI’s capabilities, but do not want to let it operate blindly, as risk increases with decision complexity such as its use for forecasting.
65% of respondents also stated that compliance with current and emerging AI regulations is important when selecting finance software. Given that finance is a highly regulated sector, AI raises significant audit, compliance and accountability issues, such as security and origin of data, and questions around who will be using the AI and for what purpose.
Another factor is the skills gap across finance teams. AI is more prevalent than it was five years ago, but many organisations still lack the in-house expertise to evaluate, implement and monitor AI tools comprehensively.
As a result, finance leaders face a crossroads balancing investment in AI technology, while trying to upskill their teams to ensure they can efficiently interpret AI outputs, challenge anomalies and maintain accountability.
Controlled adoption with governance at the core
Finance leaders in the UK are keen to integrate AI into their operations in a limited capacity for now, with AI solutions being specifically designed for finance teams.
Finance professionals recognise the enormous potential of AI to reduce manual workloads and improve financial insight. Accuracy, transparency and governance remain essential, and AI should support finance professionals rather than replace them.
From the research highlighted, it is clear that finance leaders see the greatest value in AI tools that enhance decision-making rather than replacing it. Rather than fully autonomous systems, organisations favour solutions that provide transparency, clear audit trails and human approval controls. AI should be in place to eliminate time-consuming manual tasks but not take over human-centric roles.
What’s next: deliberate, human-led integration
The future of finance will likely involve integrating a hybrid model where AI directly automates routine processes while finance teams focus on higher-value analysis and strategic decision-making. Therefore, AI would enhance efficiency without taking on any direct responsibility.
AI adoption should remain gradual across finance teams, with clearly phased rollouts and a strong governance framework that is understood at all levels of each organisation. As a result, AI adoption across finance teams will be deliberate rather than rapid, guided by strong governance and pilot programmes, with humans firmly in control.
