A recent survey by CFO found that less than half of CFOs are “implementing new technology concepts.” Another survey by Deloitte found that, again, less than half of CFOs consider their teams as “skilled” adopters of artificial intelligence (AI).
Even as the pandemic forced finance and accounting to adapt and rely more on technology, CFOs typically remain slow to modernize compared with their peers running sales, marketing, operations, and other teams.
While the Office of the CFO has been tagged as notoriously slow to adopt new technologies, it is becoming increasingly apparent that we are living in the Golden Age of CFO Technology. Ironically, it’s these more recent technologies—AI, machine learning, and natural language processing—that are finding more acceptance and traction across finance and accounting. Luckily for CFOs out there who may be lagging, it’s not too late to get into the AI game.
What makes today’s AI so attractive and easy to deploy for CFOs is the renewed focus on the people instead of the technology. Where the typical approach to AI was to provide highly complex tools that required highly specialized skills to understand let alone apply, today’s AI works behind the scenes to assist the work people already do. It then makes those people faster, more accurate, and more efficient.
This “CFOs and AI: It’s Not Too Late to Get In the Game” white paper discusses four specific areas where AI is already transforming the Office of the CFO.
Using research from the Wharton School of the University of Pennsylvania, MIT, Oracle, and other sources, as well as real use cases from companies like Specialized Bicycle Components, the white paper details why purpose-built AI can fundamentally change how the Office of the CFO works, provides value and drives successful outcomes.
Download the “CFOs and AI: It’s Not Too Late to Get In the Game” white paper today to dig deeper into these four areas of transformational AI and learn four best practices for transitioning from legacy finance and accounting systems to modern solutions driven by AI and other technologies.
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A proud Community Partner on the GENCFO Tech 100. Planful is a leading financial planning and analysis cloud platform. Planful delivers Continuous Planning by accelerating the end-to-end FP&A process and fostering business-wide participation in agile planning and decision-making.