Finance execs confident in the face of automation
Almost two-thirds of financial executives in a recent poll said that they don’t think their jobs will be replaced by robots or technology.
A quarter of the financial executives surveyed said that it was possible that they might be replaced, while 10 percent
The survey was conducted among 83 senior financial executives by the New York Chapter of Financial Executives International.
Eight percent of respondents said that the change is happening now or will happen in the next two to five years, while the remainder said it would take place more than five years from now (34 percent) or never (58 percent).
"Our poll indicates that one out of 10 persons has doubts about the longevity of senior financial positions -- at least as we know them -- in today's world of artificial intelligence, repetitive tasking and increasing automation," said chapter president Matthew Cooley, the president of the New York City Chapter of FEI. "Presumably these executives will be working to restructure the role to emphasize functions that cannot be automated and to take advantage of free time that automation affords them."
When asked which financial executive positions would be eliminated, the respondents chose the following as the most likely:
- Director or vice president of financial planning & analysis – 19 percent;
- Corporate controller/chief accounting officer – 12 percent;
- Tax director – 10 percent.