New research from leading financial and payments platform, Airwallex, reveals one in five (19%) Australian business leaders expect to see a Chief AI Officer (CAIO) working alongside the CFO as more businesses embed Artificial Intelligence (AI) into their operations.
The Airwallex Future of Finance survey, conducted in partnership with YouGov, captured insights from more than 500 Australian senior business decision-makers, and also found that almost a third (31%) believe the CFO will remain the main decision-maker, with AI tools providing support.
Matt Patterson, Head of Sales, SME and Growth, Australia at Airwallex, said, “Finance teams are no longer just managing numbers – they’re managing intelligence. The rise of the Chief AI Officer shows how leadership is evolving for an era where data, technology and decision-making are inseparable. Those that embrace this shift will move from risk management to value creation.”
Survey insights also revealed a widening “AI divide” between large enterprises and small to medium businesses. While almost all business leaders agree automation is essential to building financial resilience, less than half (43%) of Australian SMEs plan to invest in AI and automation tools in the next two years, compared to almost two-thirds (58%) of large enterprises and businesses.
Larger organisations are already reaping the benefits. More than nine in ten (92%) enterprises report that they have adopted automation within their finance functions, compared with 81% of SMEs. The payoff is clear: 58% of enterprises say they’ve seen significant improvements in generating financial insights through AI, compared to just 40% of SMEs.
Patterson added, “The gap between SMEs and larger businesses often comes down to resources. Enterprises have the money and people power to adopt new technology quickly, but that doesn’t mean SMEs have to miss out. The same tools and innovations are now within reach.”
“Modern financial technology is helping to level the playing field. With advances in agentic AI and modern financial systems, smaller businesses can now automate tasks, improve visibility across global operations, and move with the same speed and intelligence once reserved for large enterprises.”
Positively, 85% of businesses are already adopting AI and automation in finance, and those that have, have saved an average of 12% in monthly operating costs. Still, the research highlights how traditional banking infrastructure continues to hold businesses back:
- More than nine in ten (93%) respondents said traditional financial systems are creating friction in their business
- This is primarily due to high fees (45%), payment delays (44%) and high exchange rates (42%).
- 85% of Australian business leaders fear falling behind without faster tech adoption.
Patterson said while some businesses remain constrained by legacy tools, there is a clear appetite for transformation, stating, “We’re seeing a hopeful business landscape emerge, one that recognises how AI can be embedded to enhance strategy, growth and success.”
“The financial landscape is undergoing the biggest transformation in decades, and the challenge now is ensuring all businesses have the tools to keep up.”
“The future of finance will be driven by human intelligence enhanced by artificial intelligence. Those investing in smarter, modern financial technology are unlocking faster decision-making, deeper insights and growth. They will be the ones best positioned to navigate what’s next.”
The findings form part of the broader Airwallex Future of Finance campaign, aimed at inspiring businesses to achieve global growth and success by embracing a new era in finance.
