Technology
"Precise Endowment": Core Skills for the Tax Department of the Future
Three years since the launch of ChatGPT, attention to AI in the tax and finance field continues to rise, but full implementation still requires time. Michael Bernard, Chief Tax Officer at tax automation provider Vertex, points out that ensuring report accuracy requires not only a "human in the loop" but also tools that are "human-centric." A 2025 Thomson Reuters survey shows that only 6% of tax departments are active AI users, but 88% expect AI to become core within five years. Facing a shortage of accounting talent, companies are seeking "hybrid" talent with both tax and technical capabilities, while traditional financial knowledge remains the cornerstone.
New Approaches to CFO-CIO Collaboration: Strategy First, Budget Later
In a joint interview, Rimini Street Chief Financial Officer Michael Perica and Chief Information Officer Joe Locandro stated that finance and IT departments should establish a dialogue mechanism that prioritizes strategy over budget. Both emphasized that CFOs and CIOs, as peer partners at the executive level, should jointly focus on value creation from enterprise-level technology investments, rather than mere cost minimization. The article also cites KPMG surveys and Mavrik research, noting that technology budget disagreements and AI cost overruns are widespread, and governance mechanisms need to be proactive rather than remedial.
xAI and X Appoint Former Morgan Stanley Banker Anthony Armstrong as Chief Financial Officer
According to the Financial Times, citing sources familiar with the matter, Elon Musk's long-time advisor and former Morgan Stanley banker Anthony Armstrong has been appointed Chief Financial Officer of xAI and X. He will oversee the finance departments of both companies simultaneously, succeeding X's former finance chief Mahmoud Reza Banki and filling the vacancy left by the departure of xAI's previous CFO Mike Liberatore. This move comes after Musk announced in March 2025 that xAI would acquire X in an all-stock deal, valuing the combined entity at approximately $113 billion.
Generative AI Drives Surge in Enterprise Cloud Spending, Over 40% of Companies to Allocate More Than 30% of Budgets Within Three Years
A survey of 215 North American IT buyers by TD Cowen reveals that 42% of companies expect to invest over 30% of their cloud budgets in generative AI within the next three years, with related spending quadrupling by 2028. Gartner analyst Hardeep Singh recommends controlling costs through committed contracts, FinOps, and resource optimization, and notes that enterprises are shifting toward industry-specific cloud solutions to address compliance needs.
AI-driven layoffs reach 7,000 in September, exceeding 17,000 year-to-date
According to a Challenger, Gray & Christmas report, AI directly led to 7,000 job losses in September 2025, with the year-to-date total exceeding 17,000. The technology sector leads in layoffs, with companies such as Salesforce explicitly attributing job cuts to AI. The overall number of layoffs reached 946,000, the highest for the same period since 2020.
Former AOL CFO on the 'Natural' Path to Becoming CEO
Artie Minson previously served as co-CEO of WeWork and CFO of AOL. He believes the transition from finance executive to CEO is a natural extension. Recent reports show that about 7.5% of current CEOs in Fortune 500 and S&P 500 companies come directly from CFO roles, a percentage that has been rising year over year. Minson is now CEO of Trullion, an AI-powered accounting software startup.
Silvaco's New CFO Prioritizes Predictability
After taking office, Silvaco's new CFO, Chris Zegarelli, has made it his top priority to improve the company's financial predictability and investor trust. The company had previously experienced two consecutive quarters of revenue decline and a CEO transition. Zegarelli plans to strengthen the finance team, optimize forecasting tools, and ensure smooth acquisition integration to drive revenue growth.
Five Key Takeaways from CFO Live 2025: Balancing Technology, Talent, and Mission
CFO Live 2025 brought together finance executives and experts to discuss key issues including technological change, talent development, compensation competition, and nonprofit financial management. This article summarizes five main points: building cross-functional trust, practical applications of AI, skill requirements for the next generation of accountants, compensation market shifts, and the nonprofit principle of 'no mission, no margin.'
How CFOs Can Build Data Skills for the AI Era
As artificial intelligence increasingly permeates enterprise operations, Chief Financial Officers (CFOs) need to enhance their data interpretation capabilities to play a leadership role in strategy and innovation. Stephen Harris, Field Chief Data and AI Officer for the Americas at Thoughtspot, emphasizes that finance and data leaders need to build a unified understanding of data infrastructure and prioritize addressing data challenges to prevent AI applications from failing due to poor data quality.