With the new reality at front wherein finance leaders must handle decision-making faster, more informed, and deeply aligned with the changing market conditions, AI algorithms provide the solution.
According to Workday, traditional methods, reliant on outdated data and periodic reviews, can no longer keep pace with the speed and complexity of modern business practice.
AI now empowers finance teams to make smarter, faster decisions that drive value across the organisation by transforming how data is analysed, shared, and acted upon.
Workday enumerates the most significant ways AI is reshaping the finance function today:
Static to dynamic forecasting. Finance teams labour over historical data, only to produce forecasts that are often obsolete by the time they are shared. AI changes this by enabling forecasts to evolve dynamically as new data becomes available.
Risk management reimagined. AI allows CFOs to manage risks in real time by identifying subtle anomalies that traditional systems may overlook. AI tools analyse variables ranging from customer payment behaviors to geopolitical indicators to supply chain performance metrics, flagging threats that demand immediate attention.
Democratising decision-making. In many organisations, predictive analytics has historically been confined to FP&A, with insights trickling down to other teams at a slow pace. This siloed approach no longer works in an environment where decisions need to be both rapid and cross-functional. AI democratises data by creating a unified platform where real-time insights are accessible to leaders across departments.
Workday says that for CFOs, this means equipping every function—from HR to operation to marketing and sales—with the financial intelligence they need to align their strategies. A shared dashboard can highlight how inventory management trends affect revenue or how demand changes alter resource requirements, ensuring everyone operates from the same playbook.
Unlocking hidden opportunities. The role of AI in finance is not just about risk reduction, but also about finding value where others can't see it. Predictive AI models analyse data points at a scale and depth no human team could match, revealing patterns and opportunities often hidden in plain sight.
Speed meets strategy. The ability to execute at speed is now a non-negotiable for CFOs. Yet traditional forecasting cycles often stretch into weeks, and even months, delaying critical decisions. AI applications eliminate this bottleneck by automating data aggregation, variance analysis, and model updates, enabling CFOs to pivot from lagging insights to actionable foresights.
