Despite a robust ROI from artificial intelligence (AI), corporate reporting professionals face hurdles that hinder full exploitation of AI tools, according to a Workiva report. Although 74% of practitioners employ AI daily, 67% cite insufficient role-specific training, 65% lack AI governance policies, and 64% struggle with data quality. Confidence in AI efficacy correlates strongly with these deficiencies, including concerns about output reliability (49%) and legal risks (45%). Notably, leaders are less anxious than practitioners about AI’s impact, indicating a gap in confidence. Companies integrating AI, especially in sustainability reporting, experienced significant benefits, with 88% noting increased ROI. Enhanced efficiency resulted in accelerated innovation and improved customer experience. Yet, finance teams face rising complexities, driven by external risks like inflation and supply chain disruptions. To thrive, businesses must prioritize data integrity and security, as market pressures intensify by 2025. Investing now in AI capabilities will be crucial for future competitiveness.
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