To successfully implement AI, business leaders need to keep “AI literacy” skills in mind, said Kerry Ryan, senior director of financial services industry marketing at Seismic. The San Diego, Calif.-based company offers an enablement platform aimed at helping businesses increase revenue using solutions focused on sales, marketing and technology, according to the company.
For every technology investment, “if it’s not deployed correctly, there’s not the right kind of learning program associated with it, you’re not going to get as much value out of it or as much adoption and advantages in the company that you have. I’m looking to do,” Ryan said in an interview.
Generate maximum ROI
Business leaders are starting to think more strategically about how to best implement AI in their business, two years after the launch of OpenAI’s generative AI tool, ChatGPT, which brought highlight the potential of technology.
“It starts with: What is the fastest, smartest path to growth? Ryan talked about the first steps when it comes to thinking about implementing AI. “And intentionally thinking about the use cases, the sets of use cases, that you can really solve at scale and that are really going to help move your business forward? »
Ryan joined Seismic in May 2022 and has been in his current role with the enablement solutions provider since March, according to his LinkedIn profile. His previous experience includes positions at Salesforce, Forresters Financial and Citi.
As leaders consider where they can best use AI, having a solid change management strategy is essential. The CFO plays a role in shaping their company’s AI strategy, both with respect to technology spending and how best to deploy it. in their businessesDavid Le Strat, director of product and technology for file transfer service ShareFile, previously told CFO Dive.
CFOs are taking on more responsibility when it comes to determining where their company spends on new technology. Many are optimistic about the potential of AI and are turning to the technology “because they see it as an important driver for unlocking growth within their organization, as well as keeping an eye on spending and determining how much measurement AI can supplement some costs,” Ryan said. .
At the same time, financial leaders, especially those at public companies, are increasingly “asked to be more defensive about the technology investments and spending they make in that category,” Ryan said.
“The focus is really on streamlining that technology stack and getting maximum ROI for every piece of technology that’s in the stack,” she said.
Keeping mastery of AI in mind
For their technology investments to generate the expected ROI, it is crucial for CFOs to provide their employees with the time and resources to develop “AI literacy,” or the skills needed to use AI. technology.
In a recent Seismic survey of more than 300 financial services industry professionals, 93% said their company had launched “AI-focused training programs for new employees. Meanwhile, 91% said they were focused on improving their own AI skills, according to the report.
When thinking about strategic investments, “providing your team with access to the upskilling needed to be successful in using AI, regardless of their function,” is a critical component, Ryan said.
Creating a strategy to upskill employees in AI comes as many finance leaders are still weighing the pros and cons of investing and implementing the technology.
“For us, it’s about making sure that we position our offerings and our solutions, really, around the metrics that the CFO cares very much about in terms of what they have to report to their board, to its investors, to its other constituents,” Ryan said of presenting new technology solutions to financial leaders.
Today’s CFOs are also wondering what impact AI implementation could have on the future of the finance function, as well as their own roles. More than half of CFOs expect to see their finance teams shrink by 2026. following the adoption of AICFO Dive previously reported, citing data from Datarails. While others don’t expect to reduce their workforce, they do expect automation to change the way financial processes are conducted.
AI “will continue to become more and more a part of how you do your job every day,” Ryan said. However, she also believes that future use cases for the technology will become more specialized, she said.