Faced with a skills shortage, CFOs prioritize AI and data analysis

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Technology is changing every corporate discipline, of course, and none more so than finance. But more than that, fast-evolving needs and new tech tools responding to those needs are altering the very definition of “finance professional.”

Deloitte surveyed 1,326 finance leaders around the world and found that almost two-thirds plan to instill more technical skills among their teams through fiscal-year 2026.

Prior Deloitte research had revealed that CFOs placed a lack of skilled talent and staff resistance to using new technology as among their biggest workforce challenges in meeting C-suite expectations for their finance departments.

As to the lack of skilled talent, Deloitte noted that finance functions “appear to be getting squeezed at both ends of the labor pool.” That is, the number of CPA exam candidates has declined by 27% over the past decade, while the number of accounting graduates has fallen as well, according to other published reports. The kicker? Three-quarters of accounting professionals are within 15 years of retirement, according to the American Society of Certified Professional Accountants.

Almost two-thirds (64%) of those surveyed identified at least one technical skill as a top development priority through next year. Leading the way are AI/automation skills and data analysis/technology integration.

“Finding the right blend of technology and talent appears to be top of mind in many finance departments, with technology emerging as a potential solution when talent is scarce,” Deloitte wrote. Core business and finance skills, such as strategic decision-making, cost-management expertise, regulatory and legal compliance, and business planning and forecasting, “appear lower on the priority list for development.”

In their continuing efforts to find talent, 35% of survey respondents said they’re considering candidates with non-traditional backgrounds, while 28% are “insourcing” talent from other departments.

Indeed, it appears that many finance teams would be further along in their quest to glean value from AI if more talent skilled in that area were available. While almost two-thirds (64%) of the finance leaders said they have fully deployed AI and actively use it within their function, so far, just 21% of those are seeing clear, measurable value from those investments.

“Using AI to transform the finance function remains an elusive goal for many respondents,” Deloitte said. “[Those] from organizations in the early phases of AI adoption, those who have only reached the AI deployment stage, say they are grappling with the weight of legacy infrastructure.”

Over four in 10 (41%) of finance chiefs for such early-stage team companies reported that legacy technology is a barrier to AI.

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