AI in Finance: Professional Services firms take first steps toward transformation

AI in Finance: inevitable, but not yet integrated

There was no debate about whether AI belongs in finance. The question is how to make it work at scale and sustainably. Most firms around the table admitted they’re still in the early innings. As one CFO put it, “It’s better with words than it is with numbers,” capturing the current mismatch between generative AI’s linguistic fluency and the numerical rigour finance demands.

This isn’t surprising. According to McKinsey, fewer than 15% of professional services finance teams have moved beyond pilot AI deployments. Unlike product-centric industries, professional service firms face unique hurdles, including legacy systems, decentralised teams, and highly bespoke client engagements that resist standardisation.

 

Operational efficiency starts with standardisation

Before AI can deliver value, the groundwork must be laid. That means standardising data, processes, and platforms. Several attendees shared that their AI ambitions had stalled due to fragmented billing structures, inconsistent revenue recognition models, and siloed finance functions.

The consensus? This transformation must begin with operational transformation. Firms that invest in harmonising their finance architecture and processes – whether that’s a unified chart of accounts, consistent reporting templates or implementing best practice finance processes – are better positioned to unlock AI’s potential.

 

High-ROI use-cases are emerging in billing and time capture

Despite the early stage of adoption, some firms are already seeing tangible returns. Billing automation stood out as a clear winner. One law firm shared how its in-house AI tool automatically corrects time entry errors, saving hours of high-cost fee earner time per invoice.

These kinds of targeted, high-volume use cases, where AI augments repetitive tasks, are proving to be the most effective. From time capture to expense reconciliation, the goal isn’t to replace finance teams, but to free them up for more strategic work.

 

Rethinking off-shoring in a changing world

The conversation also turned to offshoring. With rising wage inflation, geopolitical uncertainty, and a shrinking cost advantage, many firms are re-evaluating their finance service centre strategies. AI is accelerating that rethink.

Several leaders are exploring nearshore or hybrid models that combine onshore talent with AI-enabled workflows. The logic is simple: AI can now do much of the heavy lifting that once justified off-shoring. The result? More agile, resilient, and locally embedded finance teams.

 

Cultural change and skills development: the real transformation

Technology is only part of the equation. Cultural change, skills development, and trust-building are just as critical. Many attendees spoke about the need to bring people on the journey, especially those who may be sceptical or unsure.

“Everyone’s slightly different… you’ve just got to empower people and gently prompt those who might be tech-phobic,” one CFO shared. It’s a reminder that successful AI adoption isn’t just about tools, it’s about people.

At Hitachi Solutions, we’ve seen this firsthand. Our work with clients often starts with change leadership, not code. We help teams build confidence, not just capability.

 

The future of finance: human + AI, not human vs AI

Perhaps the most powerful insight from the roundtable was that AI won’t replace finance professionals; it will reshape their roles. Younger employees already see AI as a natural extension of their toolkit. More experienced colleagues may need structured support, but they bring the judgment and context that AI lacks.

Long-term, the vision is clear. AI will handle the repetitive and repeatable work, data entry, reconciliations, and reporting, while finance professionals focus on strategic advisory, scenario planning, and ethical oversight. For junior staff, this means new kinds of training to build business acumen alongside AI fluency.

 

Final thoughts: pragmatism with purpose

The tone of the roundtable was thoughtful, grounded, and optimistic. AI isn’t a silver bullet, but it is a powerful accelerant. When paired with operational rigour, a clear data strategy, and a people-first approach to change, it can transform finance from a back-office function into a strategic powerhouse.

At Hitachi Solutions, we’re proud to partner with professional services firms on this journey, blending Microsoft’s technology platforms with deep industry insight and a relentless focus on sustainable, human-centred transformation.

If you’re exploring how AI can help your finance function evolve, get in touch with our team. We’d love to help you take the next step.