Professionals urged to upskill as AI reshapes finance sector: CPA

CHIEF financial officers (CFOs) and their finance teams need to understand how to anticipate and respond to artificial intelligence (AI), as it will be a key frontier technology to grow Singapore's economy in the years ahead, CPA Australia said on Thursday. The accounting professional body also urged professionals in the sector to upskill, particularly in terms of data mining, extraction and faster interpretation of big data. To help them navigate this digital journey, CPA Australia has published a resource titled Charting the Future of Accountancy with AI, in collaboration with Singapore Management University's School of Accountancy. The practical guide looks at how AI will reshape the accounting and finance sector in the coming years, and what the profession can do to continue to operate alongside the evolving technology and their changing roles. It draws on insights from professional services firms Accenture, Deloitte, EY, KPMG and PwC, as well as the Singapore Management University.