Odgers Berndtson: Why CFOs are Critical to AI Success
Odgers Berndtson released a new white paper, 'Champions for Change: Why CFOs are Critical to AI Success.' They've discovered that CFOs and audit chairs have a critical role to play if their organizations are to take advantage of powers new technologies such as AI (artificial intelligence).
Here are the main takeaways:
- 63% of finance leaders are less than confident in their organization's ability to implement AI. AI transformation is a leadership issue that requires bold collaboration and creative thinking.
- The skill set of finance leaders, including data governance and security, is critical for digital transformation. Also, their position within the executive team provides valuable opportunity.
- The partnership between CFO and CIO is important because both offer complementary skill sets for AI deployment.
- CFOs need to attract specialized talent with expertise in data science and statistical analysis for driving success.
- 70% of management lacks confidence in their board's ability to support an AI transformation strategy. The role of the board and audit committees includes helping to develop a data and AI strategy, which is more important than ever.