Finance Leaders See AI as Both a Tool and a Threat
A new study from Billtrust reveals a paradox in the finance world. While most leaders are moving to adopt AI, a massive 82% are deeply concerned about its potential for misuse, especially in fraud and financial crime.
This isn't a future problem. It's happening now. The sophistication of AI-powered fraud is growing, with bad actors using voice cloning, deepfake video calls, and convincingly branded fake invoices to trick your team.
The New Threat Landscape
The research, which surveyed 500 finance professionals, found that nearly half (45%) have already encountered AI-generated phishing emails. Even more alarming, 29% reported seeing AI voice cloning used to impersonate known contacts and colleagues. These tools directly attack the human trust that financial operations are built on. For more on this growing issue, the FTC has issued warnings about AI-enabled scams.
A Dangerous Confidence Gap
Here's the disconnect: 76% of finance leaders believe they would catch a fraudulent invoice before payment. However, many of these same teams report flagging six or more suspicious invoices every single month. Confidence is high, but the volume of threats is higher.
This problem is compounded by a lack of visibility. Over a quarter of organizations (27%) either don't track suspicious activity or are unsure of their numbers. You can't manage a risk you don't measure.
A Framework for Responsible AI
According to Ahsan Shah, SVP of AI & Analytics at Billtrust, trust in AI hinges on "transparency, human oversight, and ethical constraints." He stresses that these are not optional features; they are "foundational requirements."
The research outlines a clear framework for using AI in finance:
- Human-in-the-Loop Architecture: A person must have final oversight and decision-making authority.
- Transparency and Explainability: AI outputs must be clear and understandable. No black boxes.
- Continuous Governance: Regularly review AI performance and maintain strict governance.
- Secure and Ethical Deployment: Ensure AI aligns with your organization's values and security protocols.
- Digital Infrastructure: Build the right foundation to support scalable, trustworthy AI systems.
Augment, Don't Replace
With 83% of finance departments planning to implement AI-enabled solutions within the next two years, the time to prepare is now. As your team looks to adopt these new capabilities, understanding the available AI tools for finance is the first step toward safe and effective integration.
As Shah notes, the goal is to create systems that scale without sacrificing "visibility or control." The focus should be on building AI that augments human expertise, not one that attempts to replace it. The final call should always rest with a person.
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