Exponential technologies such as artificial intelligence (AI), blockchain, and automation have sparked the next wave in enterprise transformation, offering both challenges and opportunities for the enterprise.
As enterprises look to embrace these technologies, CFOs and finance organizations are uniquely positioned to take their current roles of stewards of data, algorithms of measurements, and validation of benefits, to bring about the next generation of business – that of the cognitive enterprise.
In an IBM Global C-Suite study, two-thirds of CFOs surveyed confirm that their agenda includes taking an active role in developing strategy, driving growth, reducing costs, managing risks and providing insights.
But about half of CFOs report their finance organizations aren’t as effective as they need to be. Finance needs to engage and weigh in much faster on emerging opportunities.
In today’s PodChat for FutureCFO, we are joined by Sanjay Patil, Executive Partner, Finance and Supply Chain Transformation, IBM Consulting, ASEAN, to share with us his views on action items to accelerate finance transformation.
1. Why is artificial intelligence important to the CFO and the finance team?
2. As finance teams undergo their own transformations, how does AI impact the transformation journey?
3. Gartner says AI adoption in finance is still nascent. What are your recommendations for the CFO (and finance team) ensure that AI benefits are achieved even during the early stages of adoption?
4. What questions should the CFO and finance team asked themselves and IT to ensure that everyone understands what is happening, and thereby minimise risks of unmet expectations?