financefunctions

In this episode of the Better Finance podcast, Noah Barsky, Professor at Villanova University, joins host Myles Corson to explore the impact of AI across finance function.

Host Myles Corson talks to Noah Barsky, a professor at Villanova University, about the use of artificial intelligence (AI) in the finance function. Noah brings his insights from an article he wrote for Forbes and a survey conducted by EY teams.

Noah dives into the exciting opportunities and challenges that AI presents in finance. He highlights why senior leaders in the C-suite and boards should have meaningful discussions about incorporating AI into their operations. However, many organizations can struggle with this because of distractions and ineffective leadership.

Noah explains what can make a true leader — someone with the ability to think critically, communicate clearly and have a strong sense of purpose. He emphasizes the importance of leaders who can guide their teams, make informed decisions and build trust. He also warns against being dependent on specialized knowledge, as it can hinder decision-making and hold back progress.

Noah stresses that successful AI adoption can require not only understanding the business, but also anticipating future outcomes. He emphasizes the role of bold leadership in setting clear goals and creating a practical plan to achieve them. Additionally, Noah underlines the need for a culture that encourages open discussions about effectively integrating AI into company practices.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2023 Ernst & Young Global Limited

In this special episode Pat Grismer, Former CFO of Starbucks, Hyatt Hotels and Yum Brands, and Cory Hrncirik, Microsoft Modern Finance Lead, join Myles Corson for a wide-ranging discussion on the future of finance. Their conversation covers the important role of CFOs in shaping strong company culture, investing time in talent development, and leveraging finance data to drive strategy and resource allocation. The episode also provides insights from seasoned finance experts on how the finance function can have a significant impact on driving business success. 

The future of finance is being shaped by major forces, including changes in consumer habits, technological advancements, and a heightened focus on social responsibility. As a result, finance leaders should adapt and innovate in order to stay ahead of the curve and help to provide continued growth for their organizations. This can require a rethink of established finance functions, such as planning, forecasting, and resource allocation, with a focus on agility and relevance. Finance technology and innovation can face challenges and opportunities as a result of these shifts.

Cory Hrncirik shares insights into the future of finance in this discussion. He highlights the increasing challenges CFOs face in keeping pace with evolving business models. The finance function, responsible for forecasting and budgeting, is bombarded with massive amounts of finance data, making it difficult for them to effectively manage it. Learn about the current state of finance along with steps being taken to ensure the finance function stays competitive.

CFOs have an important role supporting investments in ESG while continuing to drive the company’s economic engine.

Talent and culture are a key element of the CFOs agenda, particularly attracting and developing for emerging skills.

CFOs can increase their impact by adapting how they communicate to better engage with key stakeholder groups.

CFOs have never had a better opportunity to transform the finance function by setting a clear vision, empowering their people to adopt a growth mindset and unlocking the power of data and finance technology.

The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization.

© 2022 Ernst & Young Global Limited