When it comes to (at least) planning for AI, the moment is now

In recent dialogues between KPMG LLP and chief financial officers (CFOs), the topics of the moment have been artificial intelligence (AI) and advanced data & analytics (D&A). While there is a spectrum of maturity in terms of adoption—from simple data capture applications to sophisticated use cases and extreme automation—all CFOs seem to realize that these technologies represent the future. 

Key takeaways

• As companies transition to AI, it is critical to shift the mindset to acknowledge that AI is a business model, not a technology model. Ultimately, it will become its own enterprise muscle and drive mission-critical decisions.
• Critical success factors to using both AI and D&A models include a well-developed data strategy and a clear operating model structure.
• AI builds upon D&A, and companies are following a similar adoption curve with AI as they did with D&A a decade ago.
• AI means much more than Generative AI (GenAI), so it is critical to understand all the different types and how they can be applied within a business.
• CFOs need to think innovatively about how AI can help enhance finance processes and then conduct pilot projects in safe, controlled environments.