A recent study by Visma shows that Flemish finance professionals are hesitant to fully rely on AI for financial processes.

A Visma survey of 255 financial professionals in Flanders shows that there is still a lot of reluctance to use artificial intelligence (AI) in the financial sector. Although a majority recognizes the potential of AI, there are concerns about the reliability of AI generations and full trust in AI for managing financial processes is not universally supported.

Knowledge and trust

The results show that 37 percent of respondents believe that AI can generally help automate financial processes in their organizations. A lack of knowledge about AI seems to play a major role in this reluctance: 29 percent believe that there is sufficient knowledge about AI in their organization. Additionally, more than sixty percent of finance professionals have little confidence in entrusting financial processes entirely to AI.

Still, professionals are recognizing the benefits of AI, such as automating repetitive tasks and improving predictions and decision-making. Data accessibility and timeliness remain challenges, particularly in accounting and financial reporting.

In-depth knowledge of AI

Heiko Bonenkamp, ​​Business Area Director at Visma, emphasizes the importance of better information about AI. According to him, there is a need for more knowledge and experimentation with AI tools to simplify financial processes and increase the reliability of AI in the financial sector.

The study, conducted by DirectResearch on behalf of Visma, highlights the need for broader understanding and adoption of AI in the financial sector to fully realize its benefits.