Beyond the Hype: The Hidden Risks of AI and Analytics in Finance
CFOs and Business Leaders often focus on the incredible things AI (Artificial Intelligence) and Analytics can do—transforming decision-making, optimizing operations, and uncovering hidden insights. These advancements hold tremendous promise for finance and business leaders looking to enhance business performance including improved revenues, reduced costs, and mitigated risks. However, during a recent conversation with a group of CFOs, a senior CFO posed a critical question to me: WHERE CAN AI GO WRONG IN THE CFO FUNCTION? This inquiry sparked a discussion that led me to identify three key areas where Analytics (including AI) can present significant challenges for finance leaders in an organization.