As financial teams face an unprecedented pressure, artificial intelligence is emerging as a powerful ally. However, its potential is threatened by the proliferation of unconnected digital tools, according to the latest PLEO investigation, based on a survey conducted to more than 3000 and financial decision making throughout Europe, including 500 in Spain.
AI: The key to financial empowerment
In Spain, 79 % of CFO who use an intensively AI claims to feel trained to generate a transformative impact on your company. Among those who do not use it, that percentage falls to 60 %. This empowerment is directly related to the AI ability to free the CFO of operational tasks and allow them to focus on strategic decisions.
Reality, however, is more complex. 55 %of Spanish CFOs assume responsibilities beyond their traditional functions, including human resources (46 %), cybersecurity (43 %) or hiring (41 %), in an uncertain macroeconomic context. To this is added that 71 % declare to live unprecedented pressure levels, and 32 % today perform more administrative tasks than five years ago.
Too many tools, little integration
Although the AI promises agility, 52 % of financial managers believe that your company uses too many tools, which generates inefficiencies. On average, they work with seven different platforms, and 38 % of them are wrong or nothing integrated, which forces teams to waste time sailing between disconnected systems.
55 % of Spanish CFOs assume responsibilities beyond their traditional functions
In Spain alone, this represents 126 hours a year per person by changing between tools that do not communicate correctly: more than three weeks lost.
Integration as a critical factor for the success of AI
As IA is consolidated in the financial field, fluid integration becomes an essential condition. The study reveals that 79 % of those who use AI intensely consider that the integration between tools is key. This data falls to 73 % among occasional users, and 65 % among whom they rarely use it. In order for AI to fulfill its promise, it must be fully connected to the digital ecosystem of the companies.
Álvaro Dexeus, director for southern Europe of Pleo, adds: “In the current scenario, agility and quick and fundamental decision making are fundamental. However, financial teams are not only limited by the amount of tools they use, but also by the poor integration of these tools. The future of AI in finance is very promising: it has the ability to process data and draw conclusions at a much higher speed at a much higher speed. You can only do it if you are fully integrated into the company’s digital ecosystem.
