Discover how CFOs can strategically leverage AI and automation in financial processes with insights from Martin Wolleswinkel, emphasizing the importance of human involvement in technological transformations.
A new podcast episode of State of Process Automation was published on Nov 03, 2024 with the original title:
The Evolving Role of CFOs: Strategic Vision in the Age of AI
Overview:
In this podcast episode, Martin Wolleswinkel from EY discusses the transformed role of CFOs, emphasizing the integration of AI in financial processes and the importance of engaging employees in this evolution.
Core content:
- CFOs must shift from traditional accounting roles to strategic visionaries, especially amid technological changes like AI and automation.
- Many CFOs mistakenly believe AI can solve all financial issues without considering the human element in integration.
- Successful financial transformation hinges on incorporating staff in AI initiatives, not solely relying on technology.
- A recent study indicates only 37% of CFOs know the necessary skills their teams need by 2030, highlighting a need for strategic foresight.
- Learning and acting now is crucial for finance departments to seize future opportunities and avoid stagnation.
Learnings:
- Understand how the role of CFO is evolving beyond traditional responsibilities to include a strategic outlook.
- Learn the risks of over-relying on AI without proper human integration and involvement in financial processes.
- Recognize the importance of skill assessment and foresight to prepare finance teams for future challenges.
- Gain insights into practical examples and experiences shared by financial leaders regarding AI implementation.
- Explore ways to leverage technology alongside talent to drive effective transformation within finance departments.
The original content was published in German.
