Gartner calls on CFOs to define their role in AI initiatives

As businesses race to integrate artificial intelligence into their operations, Gartner, Inc. is urging CFOs to take a clearer role in the AI transformation. With AI expected to play an increasingly central role in driving both operational efficiency and innovation, finance leaders must step up to ensure successful integration, the research firm said.

Speaking at the Gartner CFO & Finance Executive Conference in National Harbor, Marco Steecker, senior director analyst at Gartner, told attendees that while AI offers significant opportunities, its adoption within organizations remains unclear.

Figure: Factors Determining Finance AI Roles

“CEOs are expecting finance to step up to deliver on AI in a variety of ways,” Steecker said, adding that this includes everything from collaborating with vendors to leading in-house AI initiatives. “This is a lot to manage on top of the long list of day-to-day finance activities.”

Finance Leaders’ Expanding Role in AI

As the responsibility for AI expands beyond IT departments, CFOs are increasingly expected to oversee and govern AI initiatives at an enterprise level.

Steecker emphasized that CFOs are often cast into the role of “project sponsor” in many technology initiatives, a role that will similarly extend to AI projects.

This includes evaluating business cases for AI, ensuring proper data provisioning, and validating analytical results.

“Finance leaders should approach enterprise AI oversight and governance with a proof-of-concept mindset,” Steecker added.

This approach, he explained, allows CFOs to gauge the potential impact of AI initiatives early on, track business outcomes, and assess whether the investments should continue.

Tailored Roles for Finance Leaders in AI Initiatives

When it comes to finance-specific AI initiatives, the role of CFOs can vary depending on the level of customization required by the AI solutions.

If the AI solution is off-the-shelf, CFOs will primarily serve as end-user advocates, ensuring that the technology meets business requirements and is tested and implemented properly.

In this case, a deep understanding of business processes and the ability to test the AI solution’s effectiveness are essential.

However, when AI initiatives demand more technical customization, such as coding or modeling, the CFO’s role shifts toward that of a co-developer.

This involves guiding the AI’s application within the organization, collaborating with IT teams or external partners to develop and implement the solution.

As part of this role, CFOs are also responsible for ensuring data quality and access and creating governance frameworks to protect against potential risks.

In larger organizations where AI is a major innovation driver, the pioneer role for finance leaders becomes more relevant.

This more expansive role includes not only governance and operational responsibilities but also technical oversight, including data engineering, AI model development, and data science—functions that have traditionally been outside the scope of finance.

Adapting the Finance Function for the AI Era

The demand for CFOs to take a leading role in AI is more than just a passing trend. As AI continues to reshape business operations, CFOs must adapt to a changing landscape.

Steecker stressed the importance of finance leaders educating themselves on technical topics such as data science and AI modeling, even if they do not need to become technical experts themselves.

“Finance leaders in the pioneer role must hire and develop technical experts within the finance function,” Steecker noted. “They must also engage in learning and development to stay ahead of the technological curve.”

The emergence of AI also marks a turning point in the evolution of the finance function. Rather than remaining passive observers of AI adoption, finance leaders must take an active role in shaping its implementation to maximize business value and minimize operational risks.

With AI set to play an increasing role in driving business decisions, it is essential that finance leaders are prepared to meet these demands head-on.

Looking Ahead

The next wave of AI adoption promises to bring significant benefits, but it also presents substantial challenges.

Gartner’s insights highlight the evolving role of the CFO in leading AI initiatives and underscores the need for finance leaders to engage in the process early and often.

By stepping up to take responsibility for AI’s integration, CFOs can help ensure that their organizations successfully navigate the complexities of AI adoption, ultimately driving long-term value and competitiveness in the marketplace.

With AI set to become a defining feature of the next generation of financial leadership, the opportunity for finance leaders to shape the future of their organizations has never been more significant.

But as Steecker aptly concluded, “This is not just about adopting AI. It’s about understanding your role in its success.”

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