Artificial intelligence (AI) is expected to bring significant transformation to companies’ accounting and finance functions, new research suggests. The area predicted to benefit most is payroll, as predicted by 52% of CFOs across Canada in a Robert Half Finance & Accounting survey. Accounting and accounts payable (38% respectively) tied as second-most affected areas.
Increased reliance on technology has had a positive impact on accounting and finance employees, according to 80% of Canadian senior financial managers polled for Robert Half’s Jobs and AI Anxiety report. Its influence is also expected to generate a substantial gain in the number of jobs worldwide: According to the World Economic Forum, intelligent technologies could create a net 58 million new positions by 2022.
“Emerging technology should be seen as a valuable business and career resource by organizations and professionals alike,” said David King, senior district president of Robert Half Finance and Accounting. “Not only can it help minimize errors and boost efficiencies, it can also have a positive impact on individual job satisfaction and success. By automating routine tasks and enriching data analysis, employees are able to dedicate more time to strategic initiatives that can inspire insight into new areas of growth for the business.”
“AI’s growing role in the workplace is about improving jobs more than it is taking them away,” added King. “By keeping staff updated on company-wide IT adoption plans and providing the education and support to confidently navigate these changes, managers lay the foundation for a more creative, collaborative and capable workforce.”
The following tips can help managers ease worker anxiety around new technology:
- Provide training
- Deploy change management
- Offer stretch assignments
The online survey was developed by Robert Half is based on responses from more than 300 CFOs at Canadian companies with 20 or more employees.