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01/16/2025 | News release | Distributed by Public on 01/16/2025 00:38

Navigating 2025: The Role of AI in the Future of Finance webinar

On December 5, 2024, finance professionals globally gathered for our insightful webinar, Navigating 2025: The role of AI in the Future of Finance, hosted by Sally Fletcher, Head of SSON Digital, with expert insights from Leigh Celones, Basware, and Jeroen Bijsterbosch, Deloitte. The session focused on the transformative role of AI in finance, current trends, and practical advice for navigating 2025 and beyond. 

Key Trends in Finance 

The webinar highlighted several key trends shaping the future of finance, emphasizing the transformative impact of AI and the shifts in the industry landscape. 

  • Automation shift: Finance is moving from operational tasks to generating financial insights. This shift requires new capabilities from the workforce, focusing on configuring and customizing digital tools.  
  • Data quality: High-quality, standardized data is crucial for creating insights and automation. Real-time financial data is becoming more important, with a push towards self-service and on-demand insights.  
  • AI integration: AI and digital assistants are expected to become integral parts of the finance workforce, aiding in tasks and decision-making.  

AI Adoption Journey 

AI is becoming an integral part of our daily lives, and its impact on the finance sector is no different. Many organizations have begun trialingAI tools, with those further in their AI adoption journey integrating AI into their processes.  

  • Experimentation: Employees are leveraging external AI tools like ChatGPT and Microsoft Copilot to experiment with functionalities.     
  • Enterprise Strategy: Cross-functional teams are identifying and building AI use cases and minimum viable products (MVPs).    
  • Production Deployment: Early adopters have started deploying AI in production, particularly in areas like annual report generation and accounts payable.  

Survey Insights from Basware 

Our recent report, produced in collaboration with FT Longitude, From AI to ROI - CFOs and the Fast Track to Value, collated the insights of 400 senior finance leaders. The key findings were: 

  • CFOs want to invest in AI, but don't know where to start: 75% of finance leaders say they want to increase investments in AI within the next 12‒18 months but currently do not know where to start.        
  • Effective AI strategies deliver results: 76% of respondents claim reduced operational costs since AI implementation.       
  • AI is a tool to achieve strategic goals, not the goal itself: 75% of finance leaders say deploying AI tools has given staff more freedom to focus on strategic work.  
  • AP is the CFO's quickest win: Those that have implemented AI tools in their AP teams are seeing an average ROI of 36%.    

Practical Tips for AI Implementation 

Finance leaders must focus on the strategic implementation of AI to enhance operational efficiency and drive value across their organizations. 

  • Education and governance: Educate teams on AI, establish strong governance, and clarify the tools and technologies to be used.       
  • Experimentation: Encourage employees to experiment with AI in a controlled environment to identify valuable use cases.          
  • Data quality: Focus on improving data quality, as it is the foundation for effective AI applications.     

For more detailed insights, download our full report and visit our AI hub for more resources to drive AI impact in your business.