CFOs using AI to stay competitive – survey

Staying Ahead of the Curve How CFOs Can Leverage AI to Stay Competitive in 2026

As Chief Financial Officers (CFOs) and tax authorities in Southeast Asia, we are constantly faced with rising geopolitical tensions, regulatory changes, and talent shortages. To stay ahead of the curve, we must adapt to the ever-changing landscape and leverage the power of Artificial Intelligence (AI) and other advanced data tools. In this blog post, we will explore the findings of the latest Tax and Finance Operations (TFO) Survey and provide practical tips on how CFOs can effectively use AI to stay competitive in 2026.

Embracing Transformation and Automation The Key to Success

The TFO Survey, released by auditing services network EY (Ernst & Young), reveals that 95% of tax leaders in the region are prioritizing the use of data, generative AI, and other technologies to support innovation, predictive analytics, and automated reporting. This is not surprising, given the increasing complexity and uncertainty of the business environment.

The Benefits of AI Unlocking Efficiency and Innovation

According to the survey, these technologies are expected to improve the effectiveness of tax and finance functions by about 30% over the next two years, freeing up as much as 24% of budgets that can be redirected to higher-value strategic activities.

Planning for Change Adapting to a Rapidly Evolving Landscape

More than eight in 10 survey respondents globally, and 89% in the region, said they are planning moderate to major changes to their business operations over the next two years. These changes include adjustments to supply chains and other core processes, as companies try to manage uncertainty linked to geopolitical tensions, shifting trade policies, and evolving tariff regimes.

The Role of AI in the Philippines A Growing Trend

In the Philippines, organizations of all sizes, including regulators, are rapidly adopting technology, particularly AI, to modernize and strengthen core functions. AI is now being used to support tax filings and compliance, financial reporting, accounting automation, payroll, and risk management.

Overcoming Obstacles The Need for a Sustainable Plan

Despite the benefits of AI, many organizations still face obstacles. The biggest barrier is the inability to develop a sustainable plan for data, AI, and technology (65%). Additionally, more than half of tax and finance departments in the region are still in the early stages of developing mature data management systems, which limits their ability to fully use AI.

Talent Shortages The Future of Tax and Finance

Talent shortages are also reshaping the tax and finance workforce. Sixty-one percent of respondents expect the retirement of senior tax professionals to significantly affect their operations, while 66% believe the declining number of new accountants entering the profession will create additional challenges in meeting future talent needs.

The Future of Tax and Finance Evolving Roles and Responsibilities

The role of tax and finance departments has evolved in recent years. Rather than simply handling compliance and reporting, these functions are now becoming strategic partners that contribute to broader business transformation. Professionals in the field will need digital skills, critical thinking, and adaptability to succeed, as the role of finance and tax continues to expand in a technology-driven business environment.

Practical Tips for CFOs Staying Ahead of the Curve

To effectively use AI and stay competitive in 2026, CFOs can take the following steps

1. Develop a sustainable plan for data, AI, and technology This will enable you to fully leverage the benefits of AI and overcome obstacles.
2. Invest in new skills and technology-focused roles Hire data scientists and tax technology specialists to support your organization's digital transformation.
3. Upskill and reskill your existing workforce Provide training and development opportunities to help your team adapt to the changing landscape.
4. Prioritize collaboration and coordination Ensure that teams work together seamlessly to maximize the benefits of AI and technology.
5. Stay ahead of the curve Continuously monitor industry trends, regulatory changes, and technological advancements to stay ahead of the competition.

By embracing AI and technology, CFOs can stay competitive, drive innovation, and ensure the long-term success of their organizations. As we look to 2026, it's clear that AI will play a critical role in shaping the future of tax and finance. As a Sales Experts Professional, it's essential to stay ahead of the curve and be prepared to capitalize on the opportunities that AI presents.

Conclusion

In conclusion, AI is poised to play a crucial role in the future of tax and finance. By leveraging AI and technology, CFOs can stay ahead of the curve, drive innovation, and ensure the long-term success of their organizations. By developing a sustainable plan for data, AI, and technology, investing in new skills and technology-focused roles, upskilling and reskilling the existing workforce, prioritizing collaboration and coordination, and staying ahead of the curve, CFOs can unlock the benefits of AI and stay competitive in 2026.

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.