SOFTWARE SOLUTIONS
SURVEY UNVEILS CFOS CONCERNS AMID RAPID DIGITAL ACCELERATION : 80 % EXPRESS APPREHENSION AND LABOUR DISTRUST
Arecent survey conducted by nextgeneration reconciliation software specialists , Aurum Solutions , and international market research agency , OnePoll , has revealed crucial insights into the prevailing concerns and perceptions surrounding digital acceleration , the impact of AI on job roles and what a changing political landscape will mean for FinTech in the UK .
Over 100 Chief Financial Officers and senior financial leadership professionals surveyed raised significant concerns regarding the speed of digital acceleration and its implications for their roles and teams , providing crucial insights into financial leaders ’ sentiments on technological advancements and their impact on the future of finance .
Digital acceleration fears escalate : 42 % “ very concerned ” about pace of digital acceleration
An overwhelming 80 % of CFOs and senior finance professionals expressed varying levels of apprehension about the swift pace of digital acceleration , with 42 % indicating they are “ very concerned .” These findings emphasise the pressing need for finance departments to address apprehensions and develop comprehensive strategies to navigate the evolving digital landscape effectively .
Diverse perspectives on digital acceleration : urgency for competitive edge and tailored approaches emerges benefits , signalling the need for tailored approaches to address varying needs within finance departments .
AI worries loom large : 63 % express concerns about job functions ; calls for enhanced education
Concerns surrounding AI ’ s potential impact on job roles within finance departments are substantial , with 63 % expressing worry , including 28 % being “ very worried ” and 35 % being “ fairly worried .” Despite relatively high levels of understanding about AI in financial services ( 84 %), 14 % lack confidence in their comprehension , highlighting a need for enhanced education and awareness initiatives specifically tailored for finance professionals .
Results show that 60 % are worried about the financial outlook of their company compared to the same time last year
Across the UK there is a general worry about organisations ’ finances with 60 % of finance professionals worried about their company ’ s financial outlook compared to this time last year . The survey , exploring political backing for FinTech within the UK financial landscape , revealed a noticeable divergence in opinions among finance leaders . When asked about their opinion about what political party would be the best at supporting and investing in the future of FinTech in the UK , the Liberal Democrats garnered the most support , emerging as frontrunners with 32 %. The survey findings underline a shift in perception , with the Liberal Democrats emerging as the frontrunners for fostering FinTech support in 2024 onwards among finance leaders . This divergence in opinions emphasises the necessity of a unified governmental approach to steer the future of FinTech within the UK ’ s financial landscape .
Tiago Veiga , CEO Aurum Solutions , said : “ These comprehensive insights from the survey highlight the intricate landscape of concerns , perspectives , and expectations surrounding digital acceleration , AI integration , and political support for FinTech among CFOs and senior finance teams . Understanding these sentiments is pivotal for financial departments and policymakers to navigate challenges and capitalise on opportunities in the rapidly evolving technological landscape .” �
The survey ’ s results revealed nuanced perspectives among financial leaders . While 34 % view digital acceleration as an opportunity if approached cautiously , 25 % emphasise its immediate importance in gaining a competitive edge . Simultaneously , 13 % believe they ’ ve reached a saturation point in reaping
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