"I've spent a lot of time in the last six months thinking about the impact AI will have on our business," Elena Gomez stated, emphasizing the profound effects AI could have on workforce structures and capital allocation. She noted a discussion where an executive projected that companies would likely operate with only 80% of their current workforce in three years due to AI efficiencies. This highlights a significant reshaping of how companies may function as they adopt transformative technologies.
Maria Ferraro pointed out the rapid transformation and pressures faced by CFOs, mentioning, "the transformation journey of the role of the CFO, digitalization and using AI is going at a pace where some of us are wondering if we're behind..." This reflects the urgency CFOs feel in adapting to technology and the need for strategic pivots to remain competitive in an evolving landscape.
Ferraro cited a recent McKinsey report indicating that "98% of CFOs surveyed said their finance functions have invested in digitization and automation," yet highlighted a gap as "just one-quarter or less of their processes were digitized or automated in the past 12 months." This illustrates a disconnect between investment intentions and actual implementation in the finance sector.
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