Technology
EY Survey: AI Drives Transformation of Tax and Finance Talent Strategy
EY's 2025 Tax and Finance Operations Survey, released on November 19, shows that 89% of surveyed executives plan to upskill their existing teams over the next two years to cope with economic volatility, geopolitical pressures, and changes driven by AI adoption. The survey found that companies are shifting from relying solely on accounting skills to integrating technology and data capabilities, while placing greater emphasis on 'intangible' skills such as problem-solving and critical thinking. However, insufficient data management maturity and talent gaps remain major challenges.
Amid ongoing economic volatility and geopolitical pressures, companies are increasingly relying on tax and finance departments to drive strategy and value creation. To fulfill this growing responsibility, finance leaders are adjusting their talent recruitment, training, and retention strategies. According to a survey of finance and tax executives released on November 19 by Ernst & Young, one of the Big Four accounting firms, 89% of respondents plan to upskill their existing workforce over the next two years. Stuart Lang, EY's Global Tax and Finance Operations Leader, told CFO Dive that this requires more than just core accounting or finance skills—although these remain critical—it also demands a blend of technology and data capabilities.
"How do we truly implement training programs that don't replace but rather upskill, while recognizing that the skills of the future are vastly different from those of the past?" Lang said in a joint interview with his colleague, David Helmer, EY's Global Managed Services Partner.
Finding Intangible Skills
As finance leaders seek to upskill their teams, these teams are being expected to provide critical insights on planned transactions, supply chain changes, or scenario planning: EY's 2025 Tax and Finance Operations Survey found that 79% of respondents ranked this capability as a top priority for the next two years. The survey, conducted between July and September, collected responses from 1,600 tax and finance executives, including CFOs and tax leaders.
"Companies are continually thinking: How do I become more strategic?" Helmer said. "How do I get my team to spend at least twice as much time on high-value strategic activities while reducing time spent on routine compliance activities?"
Helmer noted that amid ongoing macroeconomic and geopolitical shifts, CFOs also need to provide strategic clarity. For example, the survey found that 81% of companies plan to adjust their supply chain processes based on geopolitical changes—adjustments that will impact tax outcomes, and consequently, the tax function.
These changes compound with the trend of "a widening talent gap, with fewer accountants entering the profession, putting pressure on the function." Tax leaders expect that both the wave of retirements and the shrinking number of graduates will impact their function; for instance, 61% of leaders said that the retirement of senior tax professionals will have a "significant impact" on them.
Helmer emphasized that in this environment, technical skills remain extremely important, but more companies are seeking to complement these skills.
Finance leaders are beginning to focus on more "intangible" skills in future hiring, with the survey showing that 81% of respondents said they are recruiting talent with capabilities "beyond tax technical skills." 85% of respondents ranked problem-solving and critical thinking as the most important capabilities for future tax professionals to develop.
Additionally, as AI further permeates business operations and companies demand new skills, "we see companies wanting to hire more diverse talent within the tax and finance functions," Helmer said. Many companies are looking for data scientists or AI specialists to "strengthen the team so these individuals can work side by side with traditional accountants or tax professionals."
Building Data Trust
In an AI-first world, finance teams need to become increasingly strategic, making it crucial to find the right combination of finance and data skills. As AI's potential is realized, for future professionals in these areas, "being able to interpret the data AI provides, apply it to a business context, and advise the business and clients, is extremely important," Lang said.
The survey showed that 86% of companies prioritize using generative AI and technology to drive innovation and insights; however, only 16% said they are "very confident in their ability to execute their data strategy," and "fewer than a quarter of companies said their tax function has a high level of data management maturity." Additionally, 64% of companies cited the lack of a sustainable data and technology plan as a reason for not achieving their function's "vision and mission."
"How do we handle massive amounts of data, how do we fill data gaps, how do we automate processes and train the automation?" Lang said. "So, I think there is still a certain level of trust barrier in the finance domain that must be overcome."