CFOs Use AI for Finance Alignment, Face ROI Measurement Challenges
CFOs and finance departments are increasingly adopting AI for forecasting, but a significant majority struggle to effectively measure its return on investment, a Protiviti report found.
CFOs and finance organizations are leveraging artificial intelligence (AI) to enhance financial decision-making and synchronize finance operations with broader enterprise priorities. Protiviti's annual Global Finance Trends Survey reveals a substantial year-over-year increase in AI adoption for financial forecasting, rising from 58% to 76%.
However, the report highlights a key challenge: only 35% of finance organizations state they are effective at measuring the return on investment (ROI) of their AI initiatives. This suggests that while AI adoption is accelerating, demonstrating its concrete impact and strategic value remains a hurdle for many.
The survey, which polled over 1,000 finance executives and professionals globally, also indicated that AI is being increasingly utilized for automating manual processes, managing risks, and improving financial transparency.
Protiviti suggests that successful AI integration necessitates a clear strategy, robust data governance, and workforce upskilling. Organizations need to focus on tools and methodologies that enable precise tracking and evaluation of AI investment returns.