Finance teams across the UK seem to be moving past the question of whether to embrace AI tools. They are now asking how they can use these tools to increase productivity and value across their organisations.
Over the past year, the percentage of finance functions adopting AI tools has more than doubled, from 21% in 2023 to 58% in 2024, according to a survey by Gartner, Inc. of 121 finance leaders.
As organisations implement these new tools, they need employees who know how to use them effectively.
Accounting and finance professionals must not only understand AI technology but also develop the skills needed to work alongside it. Achieving the Chartered Global Management Accountant® (CGMA®) designation can enhance your employability in an AI-influenced world by cultivating these six skills that are essential for staying competitive amid rapid technological advancement.
1. Automation and process optimisation
AI tools are designed to automate many routine tasks, from transaction processing to compliance checks, but they are not equipped to take over entire roles. You must understand how to identify areas in your workflow that can benefit from automation and how to implement AI tools effectively.
Automation has the potential to not only improve efficiency and accuracy but also allow more time to focus on higher-value activities like strategic decision-making.
2. Cybersecurity awareness
AI systems are powerful, but they also introduce new vulnerabilities, especially as you handle sensitive client data and manage financial transactions. Understanding cybersecurity principles and how AI is used to both defend and potentially threaten security systems is vital.
Gain a basic understanding of cybersecurity and how AI can be leveraged to strengthen security measures. Stay up to date with industry standards and data protection regulations.
3. Critical thinking and problem-solving
Even though AI can analyse vast amounts of data and provide valuable insights, it is still up to human professionals to interpret results and make final decisions. You must be able to think critically about the data provided by AI tools, question assumptions and challenge outcomes when necessary.
AI tools may generate patterns or results that require human judgment. Critical thinking is crucial for ensuring that AI outputs align with business goals and ethical standards. Through the process of studying CIMA’s® CGMA® Professional Qualification and sitting the case study exams, you will practice decision-making in complex scenarios and hone your problem-solving skills to prepare you for real-life situations and recognize when AI insights need human oversight.
4. Financial modeling with AI tools
AI tools can greatly enhance traditional financial modeling by introducing predictive analytics, Monte Carlo simulations, and other advanced statistical techniques. You should develop the ability to integrate AI into your financial models to make more accurate forecasts and improve risk assessments.
5. Communication and collaboration skills
AI tools are only as valuable as the people who use them. You must not only be proficient in using AI tools but also able to communicate your findings and collaborate with teams across departments. This means explaining complex AI-driven insights in a clear, accessible way to non-technical stakeholders.
6. Adaptability and continuous learning
As AI technologies continue to evolve, you must embrace a mindset of continuous learning and adaptability. New tools, techniques and trends will emerge, and you must be prepared to stay ahead of the curve by regularly updating your skill set.
AI is reshaping the finance function, and those who equip themselves with the right skills will be in the best position to thrive. Developing a blend of technical knowledge, analytical thinking and communication skills will allow you to work effectively with AI tools, improve decision-making and drive innovation across your organisation.
You can develop these skills and more by studying CIMA’s® CGMA® Professional Qualification.
Learn how achieving the CGMA® designation can enhance your employability in an AI-influenced world.
