Finance leaders have been discussing the impact artificial intelligence (AI) will have on the future of work for nearly all of 2023. While the conversations around AI and its impact on corporate finance dominated the narrative at recent finance events, few CFOs are preparing for government oversight of technology’s most talked-about disruptor, despite requests from creators of the technology.
CFOs and their teams have demonstrated a strong focus on expected regulations on things like ESG and salary transparency. But according to Deloitte’s 2023 CFO signals survey, few finance leaders are interested in preparing for regulation. Recent data from the survey shows only 25% of CFOs say regulation of and ethics pertaining to the use of AI are of concern or being planned for.
Future Regulations
The lack of interest in AI regulation preparation is because CFOs believe there are more pressing issues regarding future regulations, data showed. Nearly two-thirds (63%) of CFOs are focused on ESG regulations. Just under half (49%) also reported preparations related to cybersecurity regulations, which have been a focus for finance leaders’ pending new federal disclosure rules.
