AI Evolution Sparks Urgency Among CFOs: Insights from Oracle
As generative artificial intelligence (AI) becomes more common, CFOs are shifting their approach to adopting these technologies within finance teams. Oracle’s Hari Sankar highlights a growing urgency among finance leaders to implement AI solutions effectively, balancing technology with core accounting skills.
The Shift to Agentic AI
Over the past year, CFOs have recognized the potential of agentic AI—tools that perform tasks autonomously without human input. This recognition has moved many from cautious testing phases to full-scale deployment. According to a recent KPMG survey, about one-third of organizations have fully integrated agentic AI solutions.
With economic pressures and evolving business needs, CFOs are investing time in identifying where AI can drive automation and efficiency. However, there’s a critical need to maintain checks and balances to ensure AI outputs are as reliable as those from experienced accountants.
- Agentic AI can handle routine tasks but requires oversight to verify accuracy.
- Finance leaders are focused on where AI fits best to maximize benefits without compromising data integrity.
Spending on AI tools is rising significantly. A study by Ernst & Young found that 35% of leaders expect to invest over $10 million in AI technologies within the next year. Additionally, nearly 75% believe that entire business units could eventually be managed by agentic AI systems.
Despite this, CFOs are not rushing to replace finance staff with AI. Complex analysis and strategic decisions will continue to require human expertise. Instead, AI is seen as a way to increase output with existing teams, supporting growth without proportional headcount increases.
Balancing Accounting Expertise and Technical Skills
The CFO role is expanding beyond managing finances to driving broader business strategy. This shift demands not only financial acumen but also a stronger grasp of AI and data technologies.
Within finance teams, roles are evolving:
- Controllers now handle clean, consolidated data delivery for business-wide use.
- Financial planning and analysis (FP&A) teams support agile decision-making throughout the organization.
To meet these changes, finance professionals need a balanced skill set combining accounting knowledge with technical savvy. While they don’t need to become data scientists, a solid understanding of AI tools and data management is essential for leveraging new technologies effectively.
This balance will shape the future structure of finance teams, ensuring they can adapt to new tools while maintaining financial accuracy and strategic insight.
For finance professionals looking to enhance their AI skills, resources such as Complete AI Training’s courses for finance roles can provide practical knowledge to stay ahead in this evolving landscape.
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