Our comments:
Chief Financial Officer
Significant Impact of AI on the Job
22%
level of automation
0%
100%
This section reviews the 3 main tasks associated with the job studied and assesses the potential level of automation induced by AI ('AI Automation Impact').
The modeling uses 8 criteria detailed on the 'Methodology' page.
The modeling uses 8 criteria detailed on the 'Methodology' page.
| Tasks | AI Automation Impact |
|---|---|
| Supervise and coordinate the administrative, financial, and accounting activities of the company. | Moderate |
| Develop financial forecasts and manage cash flow. | Significant |
| Ensure compliance with financial and tax procedures and advise management on strategic decisions. | Moderate |
Through our research, we have identified two pivotal categories of skills that will be impacted by AI-driven automation :
- 'At-risk skills,' which are likely to become obsolete due to their susceptibility to automation
- 'Future-proof skills', which are projected to retain their value and resist automation, thereby ensuring their relevance in the forthcoming job market.
| At-risk Skills | |
|---|---|
| Supervise administrative management procedures | Many AI-based tools have been introduced to automate repetitive administrative tasks. For example, chatbots can handle common inquiries, document management systems can automate file organization and retrieval, and algorithms can predict and schedule tasks automatically based on past activity patterns. |
| Monitor the consistency of financial data sources | With the advent of AI, advanced systems have been developed to automate data validation and reconciliation. These systems can quickly identify and resolve inconsistencies, often in real-time. They are not only faster but also more accurate than human intervention, reducing the risk of errors. |
| Future-proof Skills | |
|---|---|
| Prevent risks, including societal, environmental, and technological risks | This skill is becoming crucial in a context where changing societal dynamics influence company strategy and resources. Similarly, the increasing importance of sustainability requires CFOs to constantly assess the financial implications of ecological initiatives. Lastly, in the face of a rapidly evolving technological landscape, the ability to anticipate and counter threats, including cyberattacks, is paramount. |
| Digital transformation management | Driving digital transformation as a CFO goes beyond mere technological integration. It involves a strategic vision to digitize the right processes, secure data, and rethink operations for optimal digital utilization. The CFO assesses the financial impact of changes, allocates resources, and ensures that technological investments align with the company's long-term objectives. |
How does AI impact this job type ?
Get the full analysis
AI tools greatly enhance financial forecasting by analyzing vast datasets, optimizing cash management, and providing valuable insights into trends. However, overseeing and coordinating financial activities require a deep understanding of internal company dynamics, involving human and strategic considerations. While AI aids in data analysis, human expertise and intuition remain essential for ensuring compliance and advising on strategic decisions.
Regarding at-risk skills, AI has automated routine administrative tasks using chatbots, document management systems, and predictive algorithms. Advanced AI systems now swiftly automate data validation and reconciliation tasks, reducing errors and increasing efficiency.
Future-proof skills are becoming increasingly important due to evolving societal dynamics and sustainability concerns. CFOs must constantly evaluate financial implications of ecological initiatives and anticipate threats, such as cyberattacks. As digital transformation becomes paramount, CFOs play a pivotal role in digitizing processes, securing data, and aligning technological investments with long-term company objectives.