CFOS BET BIG on AI – But he warns the real wins only come when the strategy takes the wheel
AI in Finance, however, has become more gentle recently. I found a recent article on how finance leaders are embracing automation and analytics with unexpected analytics while reading an overview of the CFOS Report AI is a way to transform money when strategy leads the way.
What struck me was that the CFOs were so flexible in their emphasis that most Americans completely failed to understand: AI is not magic. It also only charges when the company knows why it wants to use it in the first place.
What you want to know is how the change has been. Some groups have even started to use predictive models to change the way they think about cash flow cycles and the old tithes that are found in high-level tests that are still after receiving high-level observations, financial pieces are forced to what AI means to test in finance departments.
Some, however, still struggle with spreadsheets and spreadsheets and legacy programs just won't die.
The rift gets weird when half the team is carried by the independent prophecy, while the other half fights old macros.
One statement that gave me pause and thought was the fundamental consideration of how financial roles are being transformed as AI takes responsibility for repetitive work, an area explored in the debate surrounding today's financial skills that will be needed more than ever.
It made me wonder if we are ready for a mindset change. Numbers are always important, but now the story behind the numbers is very important at once and that is a completely different muscle.
Another theme in all of this is trust. There is also an ongoing debate about how much AI business load programs should be in place (a concern that has recently been raised in the head analysis of what financial guidance means to take on financial advice without violating the law driven by AI without violating the user's trust).
The truth is, I have concerns – speed is good if not short judgement.
From my vantage point, this seems to be a time when financial leaders are trying to run two races at the same time: Run the engine well while driving the car.
And if I could offer my opinion, it's this: AI in Finance will be amazing when companies stop doing it as a shiny thing, and start as part of the strategic backbone.
Until then, we will continue to see the flowers of splendor concentrated on the growing sides.
