Advancements in artificial intelligence (AI) are reshaping the finance function worldwide, with intelligent agents leading the charge in transforming operations through automation and enhanced decision-making.
Mike Whitmire, co-founder and CEO of FloQast, emphasises the growing importance of these technologies in the modern finance organisation, stating: “AI agents have the potential to fundamentally shift how CFOs and finance teams plan, analyse, and report their financials by enabling real-time insights and predictive capabilities.”
As finance teams face increasing pressure from digitisation, regulatory complexity, and the need for faster close cycles, intelligent agents offer autonomy, scalability, and precision to meet these demands.
In this FutureCFO exclusive, we explore how AI is being adopted to enhance predictive financial planning, automate reconciliations, improve compliance, and drive strategic value, with a particular focus on Southeast Asia—one of the fastest-growing regions for digital finance transformation.
Enhancing predictive financial planning
Financial planning and forecasting have traditionally relied on historical data and manual effort, often leading to inaccuracies and slow turnaround times.
“AI agents can augment legacy ERP and accounting systems by automating scenario analysis and enabling more dynamic forecasting models that adjust to shifting market conditions.” Mike Whitmire
Predictive financial planning powered by AI brings enhanced agility, allowing finance leaders to model multiple scenarios based on variables such as sales forecasts, demand changes, or regulatory impacts.
A Gartner survey forecast that by 2024, over 50% of finance leaders will use AI-driven insights to guide investment and capital allocation decisions, underscoring the growing strategic role AI plays in finance departments globally.
In Southeast Asia, this is particularly relevant as organisations grapple with uncertain economic environments and increasing cross-border transactions.
The adoption of AI agents supports proactive decision-making and better resource allocation, areas that Whitmire believes are crucial: “For organisations in dynamic markets, AI-driven scenario analysis removes much of the guesswork and empowers CFOs with confidence and clarity about future outcomes.”
Automating reconciliations and close processes
One of the most time-consuming aspects of finance is the month-end and quarter-end close, largely due to manual reconciliations and error-prone processes.
A study by The Hackett Group found that accountants and financial personnel spend 65% of their time on manual, low-value processes. These are tasks such as reconciliations that accountants spend countless late nights completing and leave no time for completing more strategic tasks.
“Automating reconciliations with intelligent agents not only speeds up the close but also improves accuracy and compliance, freeing up finance teams to focus on analysis rather than data gathering.” Mike Whitmire
FloQast is a prime example of a company developing software solutions that integrate AI to streamline close management. Hackett Group finds that automating reconciliations can reduce close cycles by up to 40%, saving considerable time and operational cost.
Asia-Pacific organisations, especially in markets like Thailand, the Philippines, and Malaysia, are increasingly investing in AI-enabled reconciliation tools as part of broader ERP and finance transformation programmes.
Post-pandemic digital acceleration has catalysed this shift, with finance leaders recognising that reducing manual workload is vital to address resource constraints and talent shortages.
Navigating compliance and regulatory reporting
With expanding regulatory scrutiny and the complexity of compliance requirements, AI can also play a critical role in ensuring accuracy and timeliness of reports while reducing risk.
Whitmire explains, “Intelligent agents can automatically monitor transactions against compliance frameworks, identify anomalies, and ensure regulatory deadlines are met without the traditional manual bottlenecks.”
The global trend towards digitising regulatory reporting through AI and machine learning has been extensively documented. According to Deloitte, finance teams that adopt intelligent automation experience a 30-50% reduction in compliance errors, significantly lowering operational risks and costs.
In Southeast Asia, where regulatory frameworks are continuously evolving to meet global standards, AI-driven monitoring and reporting tools help organisations keep pace. This is especially important for multinational companies dealing with cross-border data and tax regulations.
Bridging talent gaps with AI assistance
The global finance talent shortage presents a major challenge, with many organisations struggling to recruit and retain skilled staff capable of managing growing data volumes and regulatory changes. AI agents can alleviate talent shortages by automating repetitive, low-value tasks.
“AI doesn't replace finance professionals,” Whitmire asserts, “it empowers them by freeing up time to focus on strategic insights and value creation.”
This human-AI collaboration is critical in emerging markets like Southeast Asia, where upskilling the existing workforce and attracting finance talent remain priorities.
The World Economic Forum forecasts that by 2025, 85 million jobs may be displaced by automation globally, but 97 million new roles could emerge that are more adapted to the AI era, emphasising the need for change management and continuous learning.
Addressing data privacy and ethical use
While AI offers significant advantages, data privacy and ethical considerations are paramount. “Finance leaders must ensure that AI implementations comply with data privacy laws and ethical standards, while maintaining transparency and auditability of AI-driven decisions,” cautions Whitmire.
Data governance frameworks are essential to building trust internally and externally, particularly with sensitive financial data. Southeast Asia faces evolving regulations around data sovereignty and protection, with countries like Singapore and Malaysia leading initiatives on responsible AI use.
Looking ahead: AI as essential finance toolkit
The 2025 FutureCFO Conferences across Thailand, the Philippines, and Malaysia highlight an accelerating embrace of AI within Asia’s finance functions.
While generative AI and intelligent agents have not yet fully replaced traditional tools like spreadsheets, they are becoming indispensable for complex reconciliations, forecasting, and compliance operations.
Whitmire concludes, “Intelligent agents will soon be as fundamental to finance as spreadsheets once were—transforming not only the efficiency but the strategic impact of finance teams worldwide.”
Allan is Group Editor-in-Chief for CXOCIETY writing for FutureIoT, FutureCIO and FutureCFO. He supports content marketing engagements for CXOCIETY clients, as well as moderates senior-level discussions and speaks at events.
Previous Roles
He served as Group Editor-in-Chief for Questex Asia concurrent to the Regional Content and Strategy Director role.
He was the Director of Technology Practice at Hill+Knowlton in Hong Kong and Director of Client Services at EBA Communications.
He also served as Marketing Director for Asia at Hitachi Data Systems and served as Country Sales Manager for HDS’ Philippine. Other sales roles include Encore Computer and First International Computer.
He was a Senior Industry Analyst at Dataquest (Gartner Group) covering IT Professional Services for Asia-Pacific.
He moved to Hong Kong as a Network Specialist and later MIS Manager at Imagineering/Tech Pacific.
He holds a Bachelor of Science in Electronics and Communications Engineering degree and is a certified PICK programmer.
