About 80 per cent of big enterprise finance teams will rely on internally run and owned generative artificial intelligence (AI) platforms that have been trained using confidential business data by 2026, according to a report by Gartner.
Report also suggested that human oversight is necessary for generative AI in order to guarantee that results reflect the complexity and fairness of human judgement. The output of generative AI could seem convincing and human-like, but the outcomes might not necessarily be accurate, impartial, or trustworthy.
“Leadership teams do not want to fall behind peers; however, as the chief steward for an organization’s financial health, CFO’s must balance the risks and rewards of tools like generative AI,” said Mark D. McDonald, senior director analyst, Gartner Finance Practice. To guarantee that realistic expectations are set and the deployment of generative AI generates value without posing unacceptable risks, CFOs across leadership circles should have specific talks, he further added. To differentiate between hype and reality, CFOs should work with senior technical leadership such as the CIO, chief data officer, and chief information security officer and share outcomes with the rest of the executive leadership team, report suggested.