PAYMENTS : PAYMENT TECHNOLOGY
A
rtificial intelligence ( AI ) is rapidly transforming the world of finance , presenting CFOs with unprecedented opportunities and challenges . As we progress through the 2020s , the integration of AI technologies in finance departments is accelerating at a dizzying pace , fundamentally altering the role of CFOs in large enterprises .
For CFOs , the merits of embracing AI are both numerous and tangible . AI-powered systems are already automating complex and repetitive tasks , enhancing decision-making through predictive analytics . In practical terms , this translates to significant time and cost savings . AI can process vast amounts of numerical information , far exceeding human capabilities and can identify patterns in financial data that would otherwise remain obscured .
James Glover , Finance AI Leader at Deloitte Consulting , says : “ To truly adopt within and outside of finance , the CFO needs to develop a deep understanding of the technology and its possibilities .”
The integration of AI is fundamentally altering the role of the CFO , shifting it from a primarily backward-looking , number-crunching position to a forwardthinking , strategic one . As AI takes over routine tasks , CFOs are increasingly expected to leverage financial data to drive growth , report to key stakeholders , detect risks , forecast future trends and drive digital transformation as part of the overall business strategy .
“ AI frees up the CFO to become more strategic ”
CHRISTIAN HECKER , CRO FOR THE OFFICE OF THE CFO , SAP
136 January 2025