CHRISTIAN HECKER : AI MAKES CFOS TRANSFORMATION AGENTS
The real value of AI is that it frees up the CFO to become more strategic . It ’ s saving the time that would be spent looking through data , looking through spreadsheets , calculating numbers and really just giving CFOs time to think .
And not only the CFO , but the finance team underneath them . Think about being an accounting clerk , closing the books , it ’ s a cumbersome process – and AI accelerates all that .
Our former Chief Financial Officer Luca Mucic has said that AI will transform the role of the CFO from being a business steward – making sure all business units stay within budget – into a business partner who has a seat at the table making strategic decisions . Being a transformation agent , as he calls it .
AI will help CFOs to become a strategic advisor – a financial copilot , if you will – helping to reshape the business in order to grow and succeed .
We know the vast majority of CFOs really want to embrace AI , some just don ’ t know how to do it . My recommendation would be to just get started . Don ’ t do everything at once , but if you ’ re hesitant , start small . Find a business unit internally that is eager to try and then start from there and really expand accordingly . Because I do think we underestimate the power and efficiencies we can create if we free up time for our people to focus on the more value-adding tasks .