Finance leaders fear AI skills gap as change accelerates

Most senior finance professionals expect artificial intelligence to reshape their function within the next two years, but only a minority see their organisations as well prepared for the shift, according to new global research from the Chartered Institute of Management Accountants.

CIMA surveyed 1,446 senior finance and accounting leaders and managers across the world. Almost nine in ten respondents, or 88%, said AI would be the most transformative technology trend in accounting and finance over the next 12 to 24 months. Only 8% described their organisation as very well prepared for AI. A further 21% said their organisations were well prepared.

The findings point to a growing mismatch between expectations of AI's impact and the pace of internal change in finance functions. Many respondents highlighted structural and skills-related barriers that hold back both technology adoption and wider productivity improvements.

Generative AI stood out as the single biggest skills concern. Some 56% of respondents identified GenAI as the most prominent skills gap in their teams. CIMA said the issue reflects a wider realignment of in-demand skills in finance.

In 2021, only 20% of finance leaders ranked IT and technological skills as a top concern. That share has now risen to 46%. Technology skills now sit ahead of many traditional finance competencies in priority for training and recruitment.

Skills and talent shortfall

Respondents cited people-related obstacles as the main drag on technology adoption. Half of those surveyed, or 50%, pointed to a lack of human capital, skills, and talent as the biggest challenge. Safety and security concerns followed at 47%. Doubts about the maturity of available technologies came next at 42%.

CIMA said these barriers are feeding into broader productivity issues. The survey found that 41% of respondents see lack of skills as a key barrier to organisational productivity. Another 37% pointed to low motivation.

Technology infrastructure and management also emerged as a constraint. Some 32% of respondents blamed incompatible technology systems for lower productivity. A further 32% pointed to poor coordination in technology implementation projects.

Andrew Harding, FCMA, CGMA, Chief Executive of The Chartered Institute of Management Accountants, said the profession is now at a pivotal point.

"The advance of AI tools in the last two years is enabling a paradigm shift in how finance teams operate and the work they can do to generate value for their organisations. While professionals recognise the potential on offer, many today feel underprepared and under-skilled. There's a clear gap between anticipating disruption and taking action," said Harding.

The survey indicates that finance leaders do not see the AI skills issue in isolation. Respondents reported gaps across a range of digital and human skills that underpin the use of advanced technologies.

Beyond GenAI

Beyond generative AI, 37% of respondents cited broader technology skills as a concern. They included areas such as AI more generally, big data, cloud, internet of things, and robotics. Another 36% reported skills gaps in data and analytics.

Respondents also highlighted persistent shortages in what are often described as "soft" or "core" skills. Some 33% reported gaps in communication, influencing, and critical thinking. Business partnering skills, which link finance teams with operational decision-making, were cited as a concern by 32%.

Harding said the institute is reshaping its professional training in response to these trends.

"The good news is that CIMA is addressing the skills gap. Earlier this year, we overhauled the CGMA Professional Qualification to embed new technologies such as GenAI across the syllabus and offer a number of resources to help members develop digital finance skills. GenAI is fast becoming a powerful co-pilot for finance professionals, helping to guide decision-making, drive performance, and enhance the value finance business partners bring to organisations. There has never been a better time to be a CGMA designation holder," said Harding.

On-the-job learning

The research suggests finance professionals favour practical, work-based approaches for developing new technology skills. On-the-job training ranked as the most effective method for technology upskilling. Some 61% of respondents selected this option.

CIMA said this preference aligns with the rapid pace of technological change and the need for continuous learning embedded in day-to-day roles. Many organisations now face decisions over how to structure such training and how to align it with formal qualifications, external courses, and internal mentoring.

The survey forms the first phase of a wider study of how finance functions respond to technological, organisational, and productivity pressures. CIMA plans further research on how finance teams adopt AI and other technologies, and how they adjust skills and operating models over time.