Survey : Most Organizations Ready to Work With AI — but Not Quite in Finance
A recent survey by Tipalti , a global finance automation company , examined CFOs ’ AI readiness , digital technology adoption and business performance expectations for the coming year and explores how CFOs can leverage digital technology and automation to establish robust financial processes for growth . A summary of the survey finding includes : Resource Constraints : 72 percent of finance executives agree that CFOs and finance functions are tasked with doing more with less — i . e ., fewer resources or smaller budgets — in 2024 compared to 2023 . Moreover , 84 percent believe manual tasks still consume too much of their teams ’ time , up 8 percent from last year , highlighting the need for automation and technology
SURVEY investments to support long-term growth .
AI Adoption : 69 percent of finance executives report that their organizations are either using , exploring , or investing in AI in finance , and 60 percent feel their organizations are ready to implement AI tools . However , the majority ( 65 percent ) rate their organizations ’ readiness as moderate or less .
Technological Readiness : Enterprise value creating CFOs are more likely to feel ready to implement
AI ( 70 percent vs . 49 percent ) and prioritize digital transformation to achieve business goals in 2024 .
The report also found a significant focus on business continuity and resilience , with 59 percent of finance executives prioritizing these areas in 2024 , up from 51 percent in 2023 and 40 percent in 2022 .
Download the report : https :// cfodive . tradepub . com / free / w _ defa6681 / prgm . cgi .
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