CFOs must build AI data ‘audit discipline’

Core Insights - The integration of artificial intelligence into business processes necessitates CFOs to closely monitor the data that informs AI models for effective scenario planning and forecasting [1][3] Group 1: Importance of Data Governance - CFOs should apply the same level of audit discipline to data as they do to financials, viewing data as a financial asset [2] - Privacy and data trust are essential governance mechanisms that protect and enhance the value of data assets [2] Group 2: AI Integration and Challenges - CFOs are enthusiastic about AI's potential benefits, such as improved forecasting and reduced financial close times [3] - A significant challenge is that enthusiasm for AI often exceeds the maturity of the data being used, leading to a lack of trust in the data [4] Group 3: Data Quality and Operational Impact - Untrustworthy or unclear data can lead to operational issues, such as distorted forecasts and increased material and reputational risks [5] - Ensuring clean data is crucial for CFOs, as strategies depend on accuracy, predictability, and risk mitigation [5]