AI adoption in finance is not simply a top down transformation
AI adoption in finance is not simply a top down transformation. It is a bottom up journey. New research from Aalto University School of Business, based on interviews with finance executives across nine Finnish companies, explores how organisations are actually adopting AI in their finance functions.
The findings point to a gradual journey:
🟢 Individual: Professionals begin by using AI assistants to improve everyday productivity.
🟢 Functional: AI and automation are introduced to support routine finance processes.
🟢 Operational: Organisations move towards forecasting, anomaly detection and real time analytics.
🟢 Strategic: AI starts to reshape the role of finance in business decision making.
What stands out is that progress depends not only on technology, but also on the foundations that support its use: high quality data, good governance, relevant skills, organisational culture and committed leadership.
‘For finance, trust is particularly important. Accuracy, auditability, information security and human verification remain essential as AI becomes more deeply integrated into financial work,’ Professor Seppo Ikäheimo says.
The message for business leaders is practical: start where value and risks can be clearly understood, learn from experience and build towards broader transformation.
Read the full article by Seppo Ikäheimo, Olli-Pekka Lumijärvi and Jukka Sihvonen in The European Business Review
Further information
Department of Accounting and Business Law
The Department of Accounting is one of the leading research faculties in the Nordic region.
Read more news
How can we reinvent ourselves in the face of uncertainty? Five things everyone should understand about embracing the new
In a rapidly changing world, we need the ability to think differently, question what is familiar and recognise new opportunities. Aalto University’s Professor of Practice Nando Malmelin, explains how anyone can develop their openness skills
The State of Marketing survey: Performance monitoring and budgeting remain relatively weak
Markkinoinnin tila (The State of Marketing) survey opens up important perspectives to the Finnish marketing knowhow and areas for development in marketing
What is quantum tech?
Many of today’s devices would not exist without quantum technology, but the most exciting applications are still on the horizon