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AI has arrived in the mainstream - but the ROI is a long time coming.
Executive Summary
More than half of finance teams are already testing or using AI.
Yet only 14% of CFOs report significant benefits. AI is ubiquitous, but its benefits remain elusive. The problem is not the technology itself, but that AI is not being used for the right problems: complex, hard-to-diagnose, high variance areas where precise calculations and machine learning can justify the cost.
The growing role of the CFO
CFOs today are co-responsible for enterprise risk management, corporate strategy, procurement, IT, real estate, cybersecurity and ESG. Their calendars are overflowing with meetings, messages and urgent requests. Time is becoming the scarcest commodity. Delegation becomes a survival strategy.
The digital skills gap
Finance teams are not yet equipped for the digital future.
74% of CFOs cite a lack of team skills as the main barrier to AI progress. Digital literacy, digital translation, bias management and digital ambition are becoming essential skills.
In short, the world of finance is evolving faster than the psychology of those who need to use it.