How CFOs Can Prepare for an AI Future

Businesses are entering a new Era of Work, characterized by increased productivity and the elimination of mundane tasks currently performed by humans. Although generative AI has rapidly gained prominence, businesses still face challenges in adopting the technology and delivering value. This article explores how CFOs can prepare for this new way of working and approach to technology.

The Vision of Teraflow.ai and the Rebel Technologist

Teraflow.ai's mission is to empower every business and executive on the planet to effectively adopt AI and gain a competitive edge. Despite the remarkable advancements in technology, businesses often struggle with adopting new systems. A crucial personality type that businesses need to recognize, embrace, and support is the Rebel Technologist.

These individuals possess a deep understanding of the business and are driven to make positive changes. They can originate from various parts of the organization but share a common understanding of how technology can continually improve business processes. Change is a revolution, and with the rapid advancement in technology, businesses need strong Rebel Technologists to help them accelerate the adoption of new technologies.

Preparing CFOs for an AI Future

CFOs play a pivotal role as gatekeepers to the adoption of modern technologies, ensuring that investments align with the business plan. AI presents two key opportunities:

• The chance to finally get a handle on rapidly expanding data.
• The opportunity to depreciate old technologies that no longer support business needs.
• Finally the ability to pause and take inventory on internal processes and ways of work

By harnessing these opportunities, CFOs can repurpose IT budgets for new, streamlined AI-powered processes and mandate the importance of data monitoring, performance tracking, and AI adoption across the business. This approach allows for prompt-based search, insights and automation of workflow across any system within the organization.

Addressing Concerns and Embracing Responsible AI

While the rapid pace of AI innovation is concerning, it is important for businesses to take the lead on responsible and ethical AI adoption. By starting with internal processes and optimizing ways of working with better AI tools, businesses can free up time and resources to tackle more challenging problems.

This technology trend is not like the digital era, where businesses could wait and see how things unfold. The speed of innovation is terrifying, and the only way to navigate it is to jump in and start using the technology responsibly.

A 4-Step Plan for AI Adoption (DICE)

A 4-step plan (DICE) is proposed for businesses to start testing the proverbial waters of AI:

1. Discover: Leverage AI-powered enterprise search to manage and make unstructured data sources discoverable to workers. Depreciate old CMS systems and use AI-powered search to find documents efficiently.
2. Insights: Tackle structured data by consolidating data warehouses and application stacks using AI-based prompt-driven insights. Enable teams to ask natural language questions and generate dashboards on the fly.
3. Create: Fine-tune your own LLMs (Large Language Models) to enhance Co-Pilot-based tools with your enterprise data, ensuring relevance and driving adoption.
4. Enhance: Automate mundane tasks by linking systems and applications with API gateways. Combine data assets and AI abilities to build AI agents that automate workflows.

The question still stands: when will you begin your AI journey?