CFO’s Playbook: Driving trust-driven finance transformation in the age of AI

CFO India, in association with ACCA, hosted an insightful session in Chennai to discuss how CFOs can build trust in technologies like AI. The session featured valuable insights from finance experts, focusing on the challenges and governance issues associated with AI adoption and integration in financial operations. 

The session was chaired by Ms. Seema Menon, Chief Operating Officer of CFO Collective, who highlighted the crucial need to balance innovation with trust and robust governance when adopting AI. We were also privileged to have Ms. Naina V G, Head of Employer Relationships, ACCA, who co-chaired the session alongside Seema. 

The session saw active participation from distinguished CFOs, including Mohan Babu Narra, Executive Director & CFO, BNY Mellon; Venkatesh Viswanathan, Vice President – Finance, R R Donnelley; Srinivasan Veeraraghavan, Vice President – Finance, Williams Lea India; and Senthil Arumugam, Senior Director – Finance, Sutherland Global Services.

Key discussion areas

The dual impact of AI – Fear and optimism

Naina, opening the session, shared findings from ACCA’s recent global talent trend survey. According to the survey, 63% of working professionals expressed concern that AI might impact their roles. However, a larger group, 79%, believed AI would add value to their work in the future. The discussion then probed into the dual nature of AI – the fear of job redundancy versus the potential for AI to enhance and enrich work roles.

Embracing AI with trust and transparency

Mohan Babu and Venkatesh emphasised that while AI can drive efficiencies—especially in areas such as accounts payable and financial forecasting—human oversight remains essential. AI’s role, they agreed, is to enhance rather than replace human judgement, highlighting the need for trust frameworks within AI deployments.

Building talent for the AI era

As AI’s role in finance deepens, there was consensus on the need for skill evolution. Naina highlighted ACCA’s initiatives in AI-focused curriculum reforms, aiming to align future talent with industry demands. Sriram and Senthil underscored the importance of critical thinking and data literacy, with a shift towards more analytical roles as routine tasks become automated. Various others noted that organisations must enable trust in AI by educating employees about the technology’s benefits, thereby reducing fears of job displacement.

A look ahead: Collaboration between academia and industry

With AI transforming the finance landscape, leaders called for stronger partnerships between academia and industry to ensure graduates enter the workforce with the required skills. Suggestions included extended internships, practical simulations, and closer industry involvement in curriculum design, fostering a workforce prepared for continuous learning and adaptation.

Closing thoughts: A future of synergy and adaptability

This session highlighted the dual nature of AI in finance: it brings undeniable efficiencies but also challenges leaders to balance innovation with responsibility. With practical steps toward transparency, upskilling, and collaboration, finance leaders are favourably placed to navigate the technological shifts ahead, reshaping the function for a more data-driven and adaptive future.