Key Findings

  • More than three-quarters (76%) of corporate finance leaders believe that artificial intelligenceposes security and privacy risks that could harm their organization's financial health, according to a survey by financial software company Kyriba.
  • This caution may hinder AI adoption, even though a large number of CFOs see AI as the top driver of transformation in their roles over the next five years, Kyriba said in a report released Tuesday.
  • The report said: "Artificial intelligence is reshaping how CFOs and senior finance decision-makers approach strategy, operations, and growth. However, a significant challenge remains: a trust gap between AI's unproven potential and vigilance over security and privacy risks."

Deeper Insights

According to a forecast released by Gartner in March, global generative AI spending in 2025is expected to reach $644 billion, up 76.4% from 2024.

Kyriba found that a majority (96%) of CFOs are prioritizing AI integration while addressing trust issues. The report said: "To thrive in this evolving environment, leaders must confront these challenges head-on, implement robust safeguards, and ensure transparency in their AI-driven solutions."

The research shows that a majority (53%) of CFOs expect AI to significantly transform their roles, a higher proportion than workforce restructuring (44%) and executive succession (41%). Nearly half of respondents said they plan to use AI to mitigate the impact of external factors such as market volatility, tariffs, and political instability on their organization's financial health and outlook, among other use cases.

The report noted: "Despite lingering concerns about security and privacy, CFOs are increasingly recognizing the value of leveraging AI to drive strategic growth, enhance decision-making, and navigate complex regulatory environments with greater confidence, indicating that AI is becoming indispensable in maintaining resilience and competitiveness."

Kyriba surveyed 1,000 CFOs, treasurers, and senior finance decision-makers in the United States, the United Kingdom, France, and Japan between February 18 and March 3.