CCI staff share recent surveys, reports and analysis on risk, compliance, governance, infosec and leadership issues. Share details of your survey with us: editor@corporatecomplianceinsights.com.
Just 27% of companies using AI in connection with defined strategy
Global finance leaders are rapidly accelerating their teams’ use of AI, according to a new survey by Protiviti, which showed that 72% of finance organizations are using the technology, a dramatic increase from 34% the previous year.
The consulting firm’s survey of more than 900 finance leaders, including CFOs, vice presidents of finance and other finance directors and managers, indicated that process automation (66%), financial forecasting (58%) and risk assessment and management (57%) are the most common tasks for which companies are relying on AI.
While most finance functions are using AI, strategic planning is lagging for many, the survey found. Only 27% of respondents said their organizations are using a “pursuant to a defined strategy,” while 45% are using it but not yet in concert with a clear strategy. Additionally, publicly traded companies appear far ahead, with 23% of respondents in these firms rating their AI maturity at one of the two highest levels compared to just 9% of those in privately held firms.
A few other findings:
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