AI use cases in finance: what they mean for your team.

Artificial intelligence is changing the day-to-day for finance and accounting professionals. But this technology is about much more than just speed or automation. It represents a new phase of work where AI in finance helps teams move beyond repetitive tasks to focus on strategy, insights and decision-making.

And this change is already happening. A 2024 report from KPMG found that 71% of finance teams are already using AI in some way. Leaders are experimenting with new tools and building new workflows to handle everything from invoice processing to predictive planning. Understanding where AI in accounting delivers the most impact is the first step to bringing that value into your team.

In this blog, we’ll highlight a few areas where AI is already delivering results. 

automate the work that slows you down

For most finance teams, the journey with AI begins by streamlining the tasks that take up the most time. Think about the hours and energy spent on manual, repetitive work like invoice validation, expense reporting and data entry. These processes are not only time-consuming but are also where human errors can easily creep in.

AI applications are designed to take on this heavy lifting. They don’t get tired or overlook details and they can process information at a scale that humans simply can’t match.

• Invoice processing and accounts payable: Instead of manually keying in invoice data, AI tools use OCR to extract and match information to POs and flag discrepancies.
• Expense management: Employees snap a receipt photo and AI handles classification, policy checks and submission.
• Month-end close: From reconciliations to intercompany transactions, AI tools reduce close times from weeks to days.

This is one of the clearest benefits of AI in finance as it gives teams space to step back from execution and move toward higher-value work.

This creates vital breathing room for finance professionals. It allows them to step back from the grind and engage their minds in analysis insights and other high-value tasks. Their roles evolve from processing transactions to managing the systems that do, ensuring the technology is working as it should and handling the complex issues the machine can't.

move toward insight

The real power of AI lies in transforming how teams forecast, plan and guide business decisions. Finance has always been the keeper of the company’s data, but AI unlocks its predictive potential in ways that were never possible before.

• Dynamic forecasting: AI enables rolling forecasts that reflect real-time changes in internal performance and external market shifts.
• Scenario planning: Teams can simulate “what if” scenarios quickly to test different paths before making a move.

This shift is part of the broader future and trends shaping the finance function, where data interpretation and communication are just as important as data crunching.

This way the finance function moves away from being a rearview-mirror historian and toward being a forward-looking co-pilot for the business. It calls for new strengths in the finance profession, like the ability to interpret AI-generated insights, ask the right questions of the data and translate complex information into a compelling story that drives action across the organisation.

build a foundation of trust

In a modern regulatory landscape, risk and compliance are top of mind. AI applications can help teams manage complexity, reduce risk exposure and catch issues sooner.

These tools can continuously monitor for fraud across millions of transactions, flagging anomalies and suspicious patterns in real time. They can also help audit teams be more effective, allowing them to scan entire transaction histories for potential issues instead of relying on small, random samples. This leads to a more robust and reliable audit process.

• Compliance monitoring: New regulations can be complex and difficult to implement. AI can scan financial reports, contracts and communications to ensure they comply with standards like GDPR, IFRS or GAAP, reducing the risk of costly penalties.
• Fraud detection: An AI system can spot things a human might miss, like duplicate invoice payments sent to the same vendor or slight changes in a vendor’s bank account details that could signal a cyberattack.

As finance and accounting teams adopt these AI-powered tools, their roles also shift away from manual review and toward judgment, analysis and cross-functional collaboration.

prepare your team for what’s next

Successfully adopting AI in finance or accounting means looking beyond the technology itself. AI is just a tool. The real transformation about understanding the impact on your people and making sure they have the support they need to succeed. A recent study by Aon found that 80% of finance leaders believe workforce readiness is critical to AI success.

• Assess and reskill: Start by understanding the skills your team has today and mapping them against the skills they’ll need tomorrow. The need for manual data entry will decrease, but the demand for analytical thinking, strategic communication and data visualisation will soar. Invest in training that closes these gaps. This shows your team you’re invested in their careers not just in cutting costs.
• Communicate with empathy: Change can be scary. It’s natural for people to worry about their jobs. Leaders must communicate a clear and optimistic vision. Explain the "why" behind the changes. Frame AI as a collaborator that will make their jobs more interesting and valuable. Involve them in the process of choosing and implementing tools, giving them a sense of ownership.
• Nurture a learning culture: The world of AI is moving fast. No one can be an expert overnight. Create a culture where it’s safe to experiment, learn from mistakes and ask questions. Encourage continuous learning and curiosity. The teams that succeed will be the ones that are always adapting.

These shifts are part of a much larger conversation about the benefits and challenges of AI across industries. For finance teams, the stakes are clear. Leaders need to bring people along the journey and invest in both skill-building and change readiness.

map your next step

If you want to explore how AI can enhance your team's effectiveness or see how it's being utilised by others, we’ve put together a guide highlighting the most impactful applications of AI in finance and accounting. Download it below to discover how this technology can elevate performance within your organisation.