Partnering with generative AI in the finance function
2025-09-12
Summary
Generative AI is being explored by CFOs to enhance the finance function by automating routine tasks and allowing more focus on strategic activities. While generative AI tools can assist with tasks like report generation and investor communications, their current limitations, particularly in forecasting, mean they supplement rather than replace financial roles. Despite lower-than-expected returns on investment so far, there's a growing trend among finance departments to increase generative AI adoption.
Why This Matters
The integration of generative AI in finance can shift the focus from mundane tasks to strategic decision-making, which is crucial in today's uncertain economic climate. As the technology matures, it offers potential cost savings and productivity boosts, making it a competitive differentiator for forward-thinking organizations. This evolution necessitates a reimagining of finance roles and skills to fully leverage AI capabilities.
How You Can Use This Info
Finance professionals can start by identifying repetitive tasks in their workflows that could benefit from automation via generative AI. Staying informed about AI developments and actively experimenting with AI tools can provide a competitive edge. Organizations should also consider investing in training to prepare their teams for a future where collaboration with AI is integral to the finance function.