Chief financial officers (CFOs) have been urged to integrate artificial intelligence (AI) in their operations to optimise productivity. They were urged to integrate AI as a solution-based tool to address problem statements given in a difficult situation.
The notification came at the fifth series of luncheon organised by the Franco-Nigeria Chamber of Commerce and Industry (FNCCI) in partnership with Forvis Mazar in Lagos yesterday.
Speaking at the event, Keynote speaker, Group CFO, Flutterwave, Mitesh Popat, said it is a regime-changing activity for AI to be embedded in CFOs’ role.
He said Open AI and Chat GPT are a lot of solutions to make financing easier.He said CFOs who leverage these solutions would be able to tackle problems. Popat said AI is disrupting the status quo, hence every CFO must leverage it in their operations.
Speaking during the panel session, Partner, Forvis Mazars Nigeria, Osamudiame Adams, said AI was not a buzzword, but the future of work. According to him, it is of ship in or ship out.
He explained that AI is interdependent with humans and machines working together to achieve efficiency.
CFO of FCMB, Kayode Adewuyi, said AI was a powerful tool that could help in foresight and budgeting.
Adewuyi said AI could help to achieve three things – predictive analysis, behavioural analysis and simulation. Investment Professional, Africa Finance Corporation (AFC), Moussa Dabo, said there was a need to invest in data centres and AI to compete and transform the operations of finance. He said it is a core space where it needs to be focused on.
