AI in finance is everywhere right now. According to Rillion's AI in finance report 2025, nearly 50% of finance leaders have a plan for implementing it in their processes this year. But the conversation is full of hype and misconceptions. From job fears to overblown promises, it’s easy to get the wrong idea.
Below, we bust 12 common myths about AI in finance and show you what’s actually true, with practical examples from accounts payable (AP).
Key takeaways
- AI won’t replace finance teams. It takes care of repetitive tasks like invoice capture and coding so your team can focus on exceptions, compliance, and strategy.
- AI is accessible for mid-sized businesses. You no longer need a large IT project or data science team to benefit from AI. SaaS platforms like Rillion have built-in AI that starts learning from your data immediately.
- You stay in control with full transparency. Modern AI shows you its recommendations, confidence levels, and routes low-confidence cases for review so you decide what gets posted or paid.
- AI improves accuracy and saves time. It reduces manual entry errors, speeds up approvals, and helps standardize how invoices are processed across your organization.
- Rillion helps you get started quickly. Our AI-powered AP automation solution delivers touchless processing rates of up to 90% and measurable ROI — and it’s designed to be easy for finance teams to adopt.
Myth 1: AI will replace the entire finance team
It’s natural to worry that AI means job cuts. Bold claims about automation wiping out roles have made many teams wonder if AP clerks, accountants — even CFOs — will soon be obsolete. This fear can delay projects, even when automation could actually make everyone’s work easier.
Reality: AI supports people, it doesn’t replace them
AI supports you, it doesn’t replace you. When AI takes over repetitive work — like invoice capture, coding, and routing — your team can focus on exceptions, strategy, and compliance. Humans still bring judgment, intuition, and context AI can’t match.
Myth 2: AI is only for large enterprises with big budgets
AI used to require big investments and dedicated data science teams, leaving mid-sized companies on the sidelines. Many still assume it’s out of reach, too costly or complex to implement.
Reality: AI is now accessible to mid-sized businesses
Modern SaaS platforms like Rillion make AI accessible to everyone. Powerful AI tools are built-in, require no custom IT project, and start learning from your data immediately.
Companies like Technopolis have seen the benefits of AI in accounts payable. Jouko Peltonen, Senior System Manager, says:
“Implementing Rillion AI was the easiest implementation ever! The AI is built-in, so it learns on its own over time with the help of Rillion’s invoice data, and we don’t have to separately export data to the system.”
Myth 3: You can't trust AI outputs
A common concern is that AI might approve, code, or even pay invoices without your knowledge. When accuracy and compliance are critical, the idea of a “black box” making decisions can feel risky.
Reality: AI enhances visibility and control
AI gives you more visibility, not less. You can see recommendations along with their confidence levels, and you decide what gets approved, posted or paid.
Myth 4: AI always gets it right
This might seem contradictory to the previous myth, but it’s easy to assume that AI is always accurate because it’s “intelligent.” In reality, even the best models can misinterpret data or need time to learn your organization’s preferences.
Reality: AI learns from data — and sometimes needs human review
AI is smart, but it’s not infallible. Finance teams still oversee and validate outcomes, especially early on.
With tools like Rillion, you can define confidence thresholds, route low-confidence cases for human review, and select which suppliers AI is authorized to handle.
Myth 5: You need deep technical knowledge to use AI
Finance professionals often assume they’ll need to learn coding, machine learning theory, or work with IT constantly to benefit from AI. That perception alone can stop adoption.
Reality: Many AI-powered platforms are designed for real users
Easy-to-use AI tools are popping up by the minute. We’re living in an era where AI is being democratized and accessible for everyone, from startups and enterprise organizations to personal use in everyday life.
Today’s AP automation tools, like Rillion, are intuitive and built for finance teams, not data scientists. With AI assistants like Riley, you ask questions in plain language and get instant answers based on your data and workflows.
Myth 6: AI could put sensitive data at risk
Given the sensitive nature of finance data, concerns about security are understandable. Protecting vendor bank details, GL codes, and payment information from unauthorized access is essential.
Reality: Modern finance AI is built for security and compliance
Trusted providers use enterprise-grade encryption, role-based access, and detailed audit trails to keep invoice and vendor data safe. Working with a compliant solution like Rillion ensures that your information remains protected.
Myth 7: AI doesn’t really save time
Some teams worry that implementing AI will add complexity rather than reduce it — resulting in longer projects with little payoff.
Reality: AI reduces manual work and boosts efficiency
AI reduces your manual work from day one. In accounts payable, this means no more hunting for invoice details or re-typing account codes. Approvals move faster and month-end close gets easier.
Myth 8: AI can’t adapt to your way of working
There’s a belief that AI forces teams into rigid, pre-set workflows that may not match how approvals and coding work in your organization.
Reality: AI learns from your processes
AI adapts to the way you work. Over time, it recognizes patterns such as correct account codes by supplier and who approves which invoices, becoming more accurate the more it’s used.
Myth 9: AI can’t support users beyond automation
Some think AI is just about replacing tasks, but not helping people. They don’t realize it can actually make onboarding, training, and finding information faster.
Reality: AI can guide users in real time
AI assistants designed for finance workflows provide real-time help and guidance. Riley AI Assistant, purpose-built for accounts payable, delivers accurate answers about invoice details, explains error messages, suggests next steps, answers “how do I…?” and even helps create support tickets when needed.
Myth 10: AI isn’t more accurate than manual work
It’s natural to trust a human process more than an algorithm, especially in finance. After all, you know your business better than anyone.
Reality: AI improves accuracy and consistency
By suggesting familiar workflows and preferred account codes, AI reduces manual entry errors and helps standardize how invoices are processed across the organization.
Myth 11: AI is too abstract to apply to real finance work
Many teams tell us they want to use AI in their finance processes but aren’t sure where to start. There’s a knowledge gap here.
Reality: AI is practical and task-driven
Finance teams can start small and expand as confidence grows. Using AI to support existing processes, like invoice data capture, coding, and routing, can lower the barrier of entry.
Emil Fleron, Lead AI Engineer at Rillion, has an expert tip:
“It’s generally easier to begin with AI implementations that support existing processes, allowing staff to validate and adjust AI-generated outputs. This approach combines the efficiency of AI with the nuance and oversight of human expertise.”
Myth 12: AI in finance is still years away
Some finance leaders think AI is a future initiative, something to revisit when the technology matures. What they’re not realizing is that their competitors may already be using it.
Reality: AI in finance is here — and already delivering ROI
Finance teams using Rillion AI experience up to 90% touchless invoices and faster approvals. The technology is already driving measurable results today.
Move past the AI myths with Rillion
Finance is one of the most structured and repetitive areas of any business, making it ideal for automation and AI. By separating fact from fiction, you can begin using AI to reduce manual work, gain more control, and improve efficiency.
With Rillion, you can let AI handle invoice capture, coding, approvals, and get instant guidance from Riley, the AI assistant built for AP — so your team can focus on higher-value work.
Book a demo of Rillion today and meet Riley, the AI assistant built for accounts payable.
