Good morning. Two things are happening at the same time: companies are making huge investments in AI, but some finance leaders remain hesitant to incorporate AI into their own finance functions.
A recent Gartner survey found that many organizations still struggle to turn investments in both traditional and generative AI into material improvements in worker productivity. Meanwhile, a survey by Emburse of CFOs and other finance professionals in the U.S. (1,000) and U.K. (500), released this week, finds that two-thirds have invested in AI. However, AI adoption isn’t the biggest priority for most finance teams. Only 16% of respondents cited AI innovation as their department’s top focus, compared to 39% who prioritized cost-cutting and efficiency measures, and 24% focused on compliance and risk management.
Still, some finance leaders remain hesitant. The top concerns about AI are data security and privacy risks, the potential for AI to make mistakes or introduce errors, and the effect on the finance role.
