AI: The Future of CFOs

TLDR: A new study conducted by Stampli and Probolsky Research has found that 89% of senior financial leaders showed an interest in adopting AI, with improved accuracy being the main benefit of the technology, cited by 51% of respondents. Other benefits included faster processing, enhanced fraud detection, lower costs, and increased efficiency. However, barriers to adopting AI were also identified, including concerns about data privacy and security, discomfort with lack of human oversight, worries about false or inaccurate information, and fears of job replacement. The research also found that finance teams prefer to remain involved in oversight and control when AI is deployed, with 63% saying they would be less hesitant to use AI if humans had to approve decisions first. The research concludes that consultants should emphasize that AI allows humans to stay centered in finance processes and augment human intelligence rather than replace it.