- AI increases efficiency, but requires clear strategies to succeed, report says
- Automation drives ROI, reduces errors, and saves valuable time
- Uncertainty slows AI adoption despite its transformative potential
As artificial intelligence (AI) continues to reshape industries, financial leaders are reaching a critical juncture, new research claims.
A survey by Basware and Financial Times Longitude reveals that while interest in AI remains high, skepticism about its measurable return on investment (ROI) is raising doubts.
Half of CFOs surveyed reported they would reduce AI spending within a year if results were not evident.
Growing interest in AI amid uncertainty
The survey, which collected information from 400 CFOs and finance leaders around the world, found that 78% of organizations plan to increase their investments in AI over the next 12 to 18 months. Many leaders recognize the potential of AI tools to transform financial operations, but nearly a third (31%) admit their organizations lack a strategic vision for AI implementation.
This lack of clarity is a major barrier, as 41% of finance leaders find it difficult to prioritize AI investments amid broader macroeconomic and geopolitical uncertainty. Even large corporations, such as Meta, have faced scrutiny over the challenges of demonstrating return on investment (ROI) on substantial AI investments, reflecting broader industry concerns.
Despite the doubts, the report highlights areas where AI is already delivering results. In finance, automation is seen as a way to reduce manual tasks, improve compliance, and detect errors or fraud more quickly. According to the survey, 75% of CFOs believe that AI allows teams to focus on more strategic activities, such as regulatory compliance and e-invoicing.
One promising application is accounts payable automation. Organizations that have prioritized AI in this area reported significant financial benefits, including a 136% return on investment over three years.
While the benefits of AI are clear, many organizations face challenges related to change management and unclear strategy. The survey found that 40% of finance leaders cite inadequate change management capabilities as a key obstacle, while 31% believe a lack of strategic vision is hindering the adoption of AI in the finance function.
“The CFO's office is tasked with overseeing a complex range of functions, from regulatory compliance to cash flow management and financial reporting,” said Perttu Nihti, chief product officer at Basware. “These are all areas where AI-powered automation can help reduce hours and relieve pressure. But the success of investing in AI depends on knowing where to start and demonstrating impact.”
“We are at the AI tipping point. Focus on high-value achievements, such as AI-driven efficiency that demonstrates quickly measurable ROI, in areas such as compliance, error reduction and fraud detection , will help justify the investment throughout a company's organization,” Nihti concluded.
