Page 35 - CMA Journal (July-August 2025)

Focus Section

But the rest? If it can be automated, or if AI can even do it PwC itself has begun offering AI consultancy services to
better, then why not? companies aiming to automate workflows and improve
decision-making. But here’s the interesting part: these
So, the role of CMAs is evolving. They won’t just be the ones services cannot rely on tech teams alone. They need
preparing reports—in fact, they will be the ones providing finance professionals who understand both the numbers
prompts to AI. They won’t just analyze the results; they will and the processes. This is where the CMAs come in.
validate the logic AI used to produce them. This does not
Also, recently, EY and ACCA shared new guidance on AI
mean finance professionals are becoming irrelevant. In fact,
assessments to boost confidence in AI systems. The
their involvement is more critical than ever—from feeding
report explores the emerging field of AI assessments,
clean, accurate data into systems to interpreting AI outputs
which encompasses a broad spectrum of
for management decisions. The human touch is still evaluations—spanning technical, governance, and
essential, but in new ways. compliance assessments through to more traditional
assurance and audits. ²
The Window of Opportunity is Wide Open
Right now, is the best time to get involved. We’re still in Lessons from the ERP Evolution
the early stages of AI integration across industries,
We have seen this fear before. When ERP systems and
whether fully or partially. That means CMAs have the
high-end finance software began rolling out across
chance to shape how it’s used—especially in
organizations, finance professionals were just as anxious
finance—and shape their expertise along with it.
as they are now with AI. Many thought automation
A recent survey by PwC about AI adoption states: “AI isn’t would make their roles obsolete. But what happened
just another technology, as more and more executives instead? Those who adapted and evolved with ERPs
recognize. Three-quarters (75%) agree or strongly agree that didn’t lose their jobs—in fact, they found new value in
AI agents will reshape the workplace more than the internet them. It opened up entirely new career streams. Global
did. What’s more, 71% agree that AI agents are advancing so firms like PwC and Deloitte built massive ERP consulting
quickly that artificial general intelligence (AGI), in which AI teams, creating thousands of jobs worldwide. On the
can think, learn and solve problems as broadly and flexibly other end, within finance departments, professionals are
as a human, will be a reality within two years.” still essential, not just for the best utilization of these
systems, but for challenging, analyzing, and reconciling
AI agent adoption their outputs. The same holds true for AI today. It's not
replacing finance professionals; it is just taking them to a
Full adoption
throughout different level.
the company AI as a Path to Professional Growth
Broad adoption Limited 17%
35% adoption Not yet AI also opens doors to new learning areas. As CMAs,
started
and no
27% Not currently using plans to continuous professional development isn’t just a
but exploring do so nice-to-have—it’s part of our responsibility. The Institute
15% 4%
of Cost and Management Accountants (ICMA) has
Unsure
2% already recognized this shift by including a Gen AI course
in its study program. That’s a big signal. AI isn’t a
Q: Which of the following best describe how AI agents are being adopted across your company? (Select one)
Source: PwC’s AI Agent Survey, May 2025, base of 308
temporary trend; rather, it’s becoming part of the
Another survey by PwC suggests “Almost nine out of 10 foundation. And it’s creating new career paths: AI
executives surveyed (88%) say their companies plan to up implementation advisors, finance automation leads,
their AI-related budgets this year due to agentic AI. Over a compliance analytics experts, and more. These roles still
quarter plan increases of 26% or more, likely to pay for need a solid understanding of finance but with an added
ambitious plans.” 1 layer of tech awareness. So, this is a growth opportunity,
AI budget increases due to agentic AI not a threat. If we get in early, we’re not just keeping up;
we’re leading the way.
8%
18% It is also providing new research areas for CMAs. In these
45% early stages of adoption, a lot of research will be required
17% globally on its successes, failures, and change management.
6% For those who want to pursue studies in research, it’s a great
6% opportunity. Many developed countries are creating special
Q: Over the next 12 months, how much is your team or business function planning to increase its budgets to fund AI-related studies.
AI-related budget due to interest in agentic AI? (Select one.)
Source: PwC's AI Agent Survey, May 2025, base of 308
ICMA’s Chartered Management Accountant, Jul-Aug 2025 33