Seven AI tips for smarter finance teams
How companies are shifting into a new era of functionality
AI is already reshaping business processes, and finance is leading the charge. The reasons are clear: it delivers measurable benefits, from faster, more efficient workflows to deeper data insights, enhanced accuracy, and sharper predictive power.
As companies increasingly expect auditors to leverage AI in their own processes, CFOs must help ensure their teams are ready for this operational shift. To help your team stay ahead, we’ve outlined seven key strategies for building a smarter, more insightful audit experience.
See how finance teams use AI
As adoption accelerates, one truth is clear; in corporate finance, AI is here to stay. The question isn’t whether to implement, but how fast to scale.
Seven AI-powered tips for finance
1
Quality control
Improve the quality and speed of financial analyses. Implement a wide range of use cases that follow the examples of AI leaders (e.g., data entry, cybersecurity, fraud detection, predictive analytics, etc.)
2
Plan ahead
Have a well-thought-out strategy and implementation plan. Actively test and refine use cases that leverage the power of Gen AI.
3
Think outside the box
Make sure your team thinks beyond accounting and financial reporting when applying AI. Look into how the technology can be used to optimize financial planning, treasury management, tax operations, and risk management.
4
Ask for help
Think about drawing AI support from outside your department (ie., AI specialists within finance). Provide training on the use of AI to the general financial staff.
5
Be proactive
Act early to establish AI guidelines and governance mechanisms. Create digital finance transformation processes to meet regulatory requirements and shift to modern IT platforms.
6
Be alert
Stay aware of potential blind spots that will require management attention. AI algorithms are complex and can lead to transparency being a common blind spot. If left unattended, it can result in a loss of trust and accountability.
7
Find a teammate
Work in tandem with auditors to build AI-empowered finance functions. Auditors should not only have a superior understanding of a company’s use of AI but should be in regular communication with the financial team on how it can be used to improve results.
AI in finance: US report
Ready to navigate your own AI journey? Check out the AI in finance: US report and learn how we’re bringing transformative insights to the forefront.
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