Chief financial officers (CFOs) are getting ready to hire professionals with expertise in artificial intelligence (AI) and machine learning (ML), as the financial services market reels from a talent shortage.
In a survey conducted by Workday, 57% of CFOs reported that they are now searching for AI and ML skills in new hires.
With the talent shortage biting harshly, financial services providers are increasingly thinking about automating much of their functions.
Considering the report, they are set to automate accounting, reporting, financial planning, and analysis processes.
Automation, CFOs believe, will free their employees to focus on more important tasks and ultimately enable them to act as strategic business partners.
In the survey, nearly 50% of CFOs said they were racking up new technology solutions in a bid to streamline operations.
The finance leaders also said that they were investing in consumer-like interfaces for financial tasks to attract future talent.
Almost every respondent in the survey emphasized the need to update technology infrastructure in order to attract and retain employees.
Compared to five years ago, today around 40% of CFOs are looking for analytics and data storytelling skills in new hires.