AI has evolved as a powerful tool that organizations are begin-ning
to leverage to increase their abilities to identify patterns and
predict outcomes with greater accuracy to help guide strategic
decision making. Today, organizations are recognizing the impor-tance
of this; the majority of respondents polled think that digital
transformation is critical (49 per cent) or important (30 per cent)
to their organization’s future growth.
However, when faced with adoption, CFOs and audit chairs are
fearful about their ability to effectively navigate the shift. When
asked if Canadian CFOs are prepared to champion the next wave
of technological change, a mere 11 per cent of polling respondents
claimed they were well prepared or very well prepared – compared
to close to half who claimed they were unprepared (42 per cent) or
somewhat prepared (41 per cent).
“There is a clear gap when it comes to the opportunities pre-sented
by AI and an organization being ready to harness the
power of the technology,” said Ross Woledge, partner and head
of the CFO Practice at Odgers Berndtson. “On one hand, CFOs
see a tremendous value creation opportunity with respect to AI,
yet on the other, face a daunting challenge of legacy systems and
disorganized data which will hamper their ability to leverage the
technology. Our view is that CFOs have the skillset to take the
lead on driving the business case for AI adoption. They are well
positioned to help their organizations get out in front of this.”
Confidence in their organization’s capability to successfully
implement AI was mixed across those polled. Close to one quar-ter
of respondents were equally confident (27 per cent), on the
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AI ADOPTION SHOULD
BE OF TOP CONCERN
FOR BUSINESS LEADERS
TODAY, WHO WILL
OTHERWISE FACE
THE RISK OF LAGGING
BEHIND COMPETITORS
OR BEING DISRUPTED.
– ROSS WOLEDGE, ODGERS BERNDTSON
honlamaiphoto / 123RF
HRPROFESSIONALNOW.CA ❚ NOVEMBER 2018 ❚ 11
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