Business Reporter BrandVoice: How Forward-Thinking CFOs Are Leading The AI Charge

There are varying differences behind each CFO’s strategic plan. In my experience, short-term CFOs focus on cost-cutting to save money and manage the bottom line. However, forward-looking CFOs manage not only the bottom line but also the top line. They care about growing market share, revenue and the long-term financial health of the business, as well as competitive positioning.

Far too many AI projects kick off without a clearly articulated financial model and business case for what the objectives are. Here is where the CFO can be a critical partner to teams tasked with building AI. The best officers will look to invest in AI but reviewing it with the same scrutiny and granularity as expense reports are by invoice processing teams. That is, with close attention to detail around investment and outcomes.

A CFO can work with the AI team and set spending guidelines to specify the appropriate places to focus and invest in AI from the beginning. Those categories are largely reducing the cost of customer acquisition, or the cost to service a customer, and delivering new products or services. A call-centre assistant can be targeted to first identify if the caller is calling about finding a serial number, and if they are, to then locate the client’s number without engaging an agent. This is handled in half the time, and maintains or improves customer satisfaction. While looking at a success metric of controlling 80 per cent of those calls without an agent, the call centre can expect a cost reduction of $1.38 million annually.

BiznessReporter forward thinking ?

BiznessReporter

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Reporter BrandVoice: The Future Of Food Packaging – Four ScenariosWill consumers be driven by convenience or are they looking for experiences – or will they want to make a statement with their consumption choices?
Source: Forbes - 🏆 394. / 53 Read more »

ThePowerMBA BrandVoice: Beyond The MBA: How Online Learning Is Forging A New Reality For Business EducationWe live in an era when old ways of doing things and legacy economic models are breaking down, and few sectors are as ripe for change as higher education Sponsored by TPMBAglobal TPMBAglobal Хм,я задумалась TPMBAglobal The left is simultaneously getting educators to do their dirty work while dismantling education as we know it. TPMBAglobal Or, you know, just pass on the MBA altogether. Same would go for law school in states where graduating law school is not required to sit for the bar.
Source: Forbes - 🏆 394. / 53 Read more »