The AI Skills Gap in Finance Teams: What You Need to Know

So, there’s this survey that says finance teams in US companies are not really up to speed with AI stuff. Like, more than half of them don’t have the advanced skills needed to make the most of AI. And get this, almost half of them are not really good with the tech side of AI tools and software. The big worry for most of them is AI cybersecurity and data security, like 54% of them are sweating over it. But guess what? Despite all these worries, 57% of companies are already using AI in their work. The gap in AI skills is even worse among the big bosses, with 59% of them admitting that their teams are not up to scratch. And it’s not just advanced analytics, they’re also not great with data governance and using modern financial tools and software. The CEO of Paro, Anita Samojednik, says that AI skills are super important for leaders to make the most of the benefits. She’s all about using AI to help finance teams thrive in the future. But you know what? Using AI brings a whole new set of problems, like data breaches and the fear of losing human oversight. And the middle managers are really worried about AI taking over human roles. But despite all these worries, 57% of businesses are already using AI in some way. They’re using it for predictive analytics, workflow automation, and to make their offerings more personalized. So, this survey is basically saying that finance teams need to up their game with AI skills if they don’t want to be left behind as the financial sector goes all-in on AI.