KPMG’s recent global AI in finance study found that the use of AI is rapidly expanding across corporate finance: 71% of companies surveyed are using AI within finance operations, 41% of them to a moderate or large degree.
Such is the pace of AI development – and the speed of its adoption – The KPMG global AI in finance study was conducted among CFOs and finance executives across 2,900 companies spread across 23 countries and territories and 6 industries and found that the companies surveyed are rolling out AI across wider areas of finance, including accounting, financial planning, treasury management, risk management, and tax management. AI is truly a global phenomenon, and it is being adopted by finance teams across the world.
In addition to the benefits highlighted in our study, we also see huge potential in AI in terms of entirely rethinking service delivery models. By deploying AI, organization can introduce entirely new services that truly bring value to business. Moreover, AI will reshape roles and responsibilities within companies and with respect to their strategic partners.
The Al-empowered finance function: Are you ready?
To enable companies to utilise Al's full potential, we developed the KPMG Al Maturity Benchmarking tool to help assess a company's progress in their Al transformation journey.
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In the next five years, the finance function must undergo a digital transformation, driven by the imperative to harness data and adopt a digital-first mindset. Reimagining end-to-end processes through AI will transform finance from recording and reporting historical transactions to forecasting future scenarios, enabling strategic decision-making. This evolution is not just about efficiency; it’s about redefining the core capabilities of finance to drive innovation and competitive advantage.
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