Why CFOs Are Still Wary of AI in Finance—And What Needs to Change.
Artificial intelligence is no longer just a buzzword—it’s becoming part of the day-to-day machinery in finance departments around the world. Whether it's streamlining reporting, tightening compliance, or improving forecasting, AI has quickly evolved into a powerful tool for companies trying to stay agile in uncertain times. But while the technology moves fast, trust in it hasn’t quite kept pace.
That’s the dilemma highlighted in a new survey by Kyriba, which reveals a growing disconnect between AI’s promise and CFOs’ comfort levels. The data points to what many are calling a trust gap—a hesitation rooted not in a lack of awareness, but in serious concerns about accuracy, security, and long-term reliability.
The AI Trust Gap in Financial Operations: Why CFOs Are Hesitating
Most finance leaders aren’t questioning whether AI can add value. They’re wondering if it can do so safely. As pressure builds to do more with fewer resources, AI offers speed, automation, and insight that human teams simply can’t match. But for CFOs, that efficiency must be balanced with precision—especially when financial accuracy and regulatory compliance are non-negotiable.
Kyriba’s findings make it clear: the majority of CFOs in the UK are still uneasy about the risks. At the top of the list? Concerns about whether AI will get the numbers right. Close behind are fears around data privacy and cybersecurity, which are understandable in an environment where one mistake could have major financial or reputational fallout.
CFO Concerns About AI Accuracy and Security Risks
Rossouw emphasizes that CFOs aren’t rejecting AI—they’re seeking assurance. Finance teams want innovative tools that are tested, transparent, and secure.
One of the biggest barriers is uncertainty around how these systems work. While AI is great at identifying patterns and making predictions, CFOs need more visibility into how it draws conclusions—especially when millions, or even billions, are on the line.
Another issue? Many finance departments aren’t staffed with AI specialists. That makes trust even more critical. If the people using the tools don’t fully understand them, hesitation is a natural outcome.
Building Trust in AI for Financial Transformation
So how do companies move forward? Rossouw believes the answer lies in strong governance, clear communication, and starting small.
“CFOs don’t need to overhaul their entire system overnight,” he says. “They can begin with specific pain points—like cash flow forecasting or fraud detection—and build confidence from there.”
When those early wins start to stack up, resistance tends to fade. But none of that happens without education and transparency. Finance leaders need to know not just what the tools can do, but how they’re doing it.
The Future of AI in Finance: Cautious Optimism and Strategic Growth
AI has the power to transform financial operations—but only if leaders trust it. Right now, that trust is still being built. And that’s not a bad thing. As the technology matures, so should the conversations around accountability, accuracy, and ethics.
The real opportunity? Companies that lean into AI thoughtfully, with one foot in innovation and the other firmly planted in due diligence, may end up leading the pack—not just in performance, but in resilience.
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