In this FinEx Summit panel, host Steve Rosvold speaks with guests Tobias Zwingmann and Tariq Munir on the integration of AI in business and finance. Tobias, a global AI expert and managing partner at Rapid AI, offers a structured roadmap for AI implementation, advising leaders to start with simple applications like internal chatbots and to maintain flexible roadmaps. Steve Rosvold praises Tobias’s methodology, while Tariq Munir, creator of the “AI for Finance Leaders” course, adds insights into the pivotal role of finance in AI projects. Tariq highlights that 80% of AI initiatives fail due to misalignment with business needs and stresses the importance of setting clear purposes, developing incremental roadmaps, and enforcing stringent governance to ensure project success.

Tobias describes the challenges of differentiating reliable AI-driven insights from hallucinations, emphasizing the critical balance between data quality and practical usefulness. He also encourages business leaders to treat AI as a strategic priority and integrate it deeply within business operations.

Tariq underscores the need for finance leaders to become digitally literate and leverage AI for rapid wins and strategic gains. He also points to the importance of continuous learning and fostering an environment conducive to innovation.

The discussion culminates in both guests urging leaders to adopt a human-centric approach to AI, ensuring technology serves to enhance, not replace, human roles. Tobias advocates creating 25-50 backlog AI use cases and prioritizing workflow augmentation, while Tariq champions governance and performance evaluation through key performance indicators (KPIs) and promotes digital ambition among finance leaders.

Enjoy learning from the expertise and wisdom of Tariq and Tobias!

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