In an era defined by exponential advances in generative AI and automation, Finance functions face both, unprecedented opportunities and existential challenges. At a recent online session of the CFO NxT Forum, Madhavan Hariharan, who comes with three decades of experience spanning strategic leadership at CK Birla Group, senior roles at Philips and governance responsibilities at Galaxy Surfactants, framed AI not as a distant novelty but as a present-day force reshaping financial operations, reporting and decision-making. His call was clear: complacency poses a far greater risk than the technology itself.
The attached podcast summarises these discussions, but briefly:
- With Generative AI reshaping operations, reporting and decision-making, Finance leaders must act now. Complacency is a bigger threat than the technology itself.
- The real value of AI lies not just in its speed but its ability to produce high-quality, secure outputs, which requires clean master data, strong governance and careful deployment to protect sensitive information.
- Success with AI does not require complete mastery upfront; starting small, experimenting and learning through hands-on use is key to building confidence and unlocking innovation.
- AI is transforming roles across functions, including Finance, where professionals must shift from transactional processing to strategic, AI-enabled orchestration.
- With AI capable of handling analysis and visualisation, the ability to humanise insights through storytelling becomes a critical differentiator, turning data into compelling narratives that influence decision-making.
