Corporate Controller & CAO Hot Topics: AI Adoption Spotlight

While maturity varies widely within organizations, the technology continues to prove valuable even in small pilot environments. With new insights into how best to use the technology, leaders are finding areas and applications that could have profound impacts in the finance field.

Finance leaders are keenly focused on keeping pace with developments in Gen AI. While the technology has shown immediate promise in other business areas, Finance has been a late adopter at some companies, largely due to an emphasis on front office applications and questions about applicability, capabilities, and concerns around security. As new use cases emerge, the potential of Gen AI in the finance field is more and more evident, convincing leaders to explore uses and invest in further development. Security concerns remain top of mind, but companies are working to mitigate these risks through a secure instance of a large language model. There is also a cultural component to AI adoption—fears among workers about being replaced persist, as do doubts about AI’s capabilities and accuracy. Leaders must upskill talent and drive a cultural shift to overcome these hurdles if they hope to have Gen AI take hold at all levels of their organizations.