Unlocking the Potential of AI in Finance: New Insights from Recent Report
A recent report highlights a crucial trend in the business landscape: while 66% of organizations have made strides in investing in Artificial Intelligence (AI), many are still grappling with how to measure its true value. This insightful report, titled “AI-Powered Finance: New Practices, ROI and Future Outlook”, was commissioned by Emburse, a leading provider of travel and expense solutions, and surveyed 1,500 finance professionals in the U.S. and UK.
Shifting Focus: From Automation to Strategic Intelligence
As finance departments continue to advance beyond basic automation, the data suggests an increasing need for AI solutions that connect directly to broader business strategies. The aim is to harness intelligence for improved spending, reduced risks, and accelerated decision-making.
Marne Martin, CEO of Emburse, emphasized, “Expense Intelligence is about transitioning from reactive expense tracking to real-time, strategic visibility.” This underscores the shifting mindset within finance teams eager to leverage AI for tangible business value.
AI Adoption Rates: A Gradual Challenge
Adoption of AI within finance departments is on the rise but not without challenges. On average, finance professionals report using AI approximately 3.7 times per day, with 37% of their tasks to some extent driven by AI solutions. Over the next five years, they anticipate significant transformations in planning and forecasting, with a projected 26% transformation rate.
Barriers to Full AI Integration
Despite the excitement surrounding AI, organizations face several obstacles. A troubling 24% of finance leaders cite data security and privacy risks as their top concern. Other worries center on the potential for AI to make mistakes (18%) and the possible impact on traditional finance roles (18%). Regulatory compliance also poses a challenge, with 10% of respondents expressing reservations. Alarmingly, nearly 23% of finance professionals are even considering job changes if their employers do not prioritize AI risk management.
ROI Realities: The Positive Side of AI Investment
Despite these apprehensions, most organizations (about 74%) report that their return on investment (ROI) in AI not only meets but exceeds expectations. The AI functionalities that yield the highest ROI include:
- Automating Accounts Payable and Receivable (26%)
- Forecasting and Budgeting (26%)
- Fraud Detection (25%)
Adriana Carpenter, CFO of Emburse, notes, “Finance teams aren’t hesitant to use AI. They’re embracing it cautiously, applying the same rigorous and analytical mindset they leverage on every strategic initiative.”
Redefining Value Through AI Integration
The transformative potential of AI is not merely in automation but in how it redefines the perception of value. Carpenter elaborates, “By focusing on the integrity of how business outcomes are achieved with AI, finance leaders are crafting more resilient, data-driven workflows that enhance both business performance and team alignment.”
Measuring AI ROI: An Ongoing Debate
The conversation surrounding how to measure the ROI of AI in finance remains complex. Organizations employ various metrics:
- Standard Financial Metrics: Cost savings, fraud reduction, and revenue growth
- Operational Efficiency Metrics: Time saved and increased automation
- Qualitative Metrics: Customer and employee satisfaction post-AI implementation
Evolving Evaluation Frameworks
About 81% of the finance professionals surveyed assert that measuring ROI for AI has transformed their approach to evaluating business costs enterprise-wide. Many organizations are now increasing their focus on traditional financial metrics (53%) while also shifting toward:
- Long-Term Strategic Impact Metrics (30%)
- Real-Time Adaptive Evaluation Frameworks (27%)
This shift indicates a powerful evolution in how businesses perceive and measure value, moving away from static cost analysis to a more dynamic, strategic approach.
A Call for Purpose-Built AI Solutions
As organizations strive for AI to deliver on its revolutionary potential, the call for purpose-built solutions tailored for finance leaders becomes increasingly urgent. Carpenter asserts, “AI must be dependable and capable of driving measurable business impact at scale.”
The Future: Redefining Investments with AI Insights
As AI continues to evolve and reshape business processes, now is the ideal time for organizations to rethink how they define and measure ROI — not only for AI investments but for all initiatives that foster innovation, agility, and growth.
By recognizing AI’s capabilities to streamline operations and enhance decisions, businesses can effectively elevate their performance in today’s competitive landscape.
Conclusion: Embracing AI with Caution and Vision
The findings of the recent report paint a promising yet cautious picture of AI’s integration within finance. Organizations are eager to adopt AI technologies, but must navigate the challenges of measuring value and addressing risks. As businesses move forward, fostering a culture of strategic evaluation and responsible use of AI will be crucial in turning technological investment into measurable business success.
For further insights and a complete understanding of these findings, click here to download the full report.
