Top Priorities of CFOs In Today's Dynamic Business Landscape

Financial Executives International Canada (FEI Canada) has just released the results of a recent survey conducted between April 2023 and May 2023, in collaboration with SAP Canada. This survey aimed to gain valuable insights into how finance organizations perceive current market conditions, their operational strategies and the role of technology in supporting their processes.

According to the FEI press release, key highlights that emerged from the responses of 75 finance leaders who participated in this study include:

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Data is Risky Business: A Wicked Problem This Way Comes

An article written by Daragh O’Brien and posted by The Data Administration Newsletter September 6, 2023, points out that “a recent data security incident in the Police Service of Northern Ireland (PSNI) got me thinking about the idea of wicked problems and data. The data security incident was the disclosure of the names, ranks, and job assignments of every officer and civilian support staff member in the PSNI. This happened due to ‘human error’ (according to the official response).”

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Some AI Tools to Supercharge Your Work and Everyday Life

Step aside ChatGPT, these helpful AI tools can automate daily tasks to make your life easier and your work more efficient. So says Allison Murray in a mid-September article for ZDNET. “AI's recent boom has brought apps and tools to the surface with the potential to make our workflow – and even our lives – easier.” And, according to Gartner Analyst and AI expert Whit Andrews, AI has a leveling effect that is only intensifying.

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Stress Mounts for Middle Managers Amid RTO, Hybrid Transition

A September 7, 2023 article in WorkLife, written by Hailey Mensik, says that return to office mandates, economic concerns, restructured teams and added responsibilities are currently making middle managers’ jobs harder than ever. They’re more likely to be disengaged, burned out and looking for another job than non-managers, a recent report from Gallup found. 

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How to Make Your Company More Climate-Resilient

An August 15, 2023 article on the PwC webpage explains how preparing for physical climate risks can be a catalyst for corporate innovation and growth. But, first, companies must form a clear picture of their vulnerabilities and make a plan to manage them. But, putting in place measures to manage climate risk is just the starting point. Companies can also seek opportunities to create value, though they will also want to take care not to inadvertently cause problems. Here are three moves to consider as you work on climate adaptation.

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31% Of Investors Are OK With Using Artificial Intelligence as Their Advisor

A recent article posted on the CNBC webpage, written by Greg Iacurci, says that, according to a new survey, nearly 1 in 3 investors would use artificial intelligence as their financial advisor — and that has the potential to lead to flawed advice.  

Specifically, he wrote, “31% of investors queried would be comfortable implementing financial advice from a generative AI program without first verifying those recommendations with another source, according to a poll by the Certified Financial Planner Board of Standards, the body that governs the CFP designation for financial advisors. “It is a bit concerning,” said Kevin Keller, CEO of the CFP Board.

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How to Prioritize Mental Health in Yourself and Your Workplace

An August 2023 article in Entrepreneur, written by Jason Zickerman, asks how much you consider mental health in your overall well-being. Says Zickerman “many business owners sacrifice their own emotional stability and personal satisfaction for what they believe to be the greater good of the organizations they run. Or they are too lost in all the noise of operating and growing a company even to consider self-care. But there is no rulebook out there that states business owners can't have a thriving business and a healthy mind. It is all about positive psychology.”

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Where Risk and EDI Meet: Validation and Mitigation

A just-released business insights article from MNP says that having a valuable and thoughtful Equity, Diversity, and Inclusion (EDI) strategy is vital to businesses, “and the risks that come with getting it wrong have never been higher.”

According to Mary Larson, MNP’s Leader, Consulting – Organizational Renewal, to the so-called “business case” supporting increased diversity has been around for decades, but Equity, Diversity, and Inclusion (EDI) as a force and movement was launched into the spotlight. “The tipping point seems to have been reached, and EDI is now as necessary as wearing a seatbelt.”

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4 Ways Finance Leaders Can Leverage ChatGPT

There seems to be no end of articles about AI and, particularly, ChatGPT. In an August 22, 2023 article in CFO, Ori Pearl writes that emerging technologies have been changing the face of business for some time now. “One of the latest iterations, is no different. The AI chatbot has created quite a stir lately for its potential to create a range of content. However, its knack for turning a phrase isn’t the only skill ChatGPT can handle. The technology can provide invaluable resources for strategic finance teams.” 

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The Importance of Data Governance When Implementing AI/ML

An article in the Data Administration Newsletter asks how can you maximize the benefits of AI/ML while minimizing the pitfalls and risks? It suggests that a big chunk of the answer is out there already — found in the deployment of “good old-fashioned” data management.

Why? Well… because it is! Too often, organizations assume that the solution to managing their AI/ML programs is through data governance. The truth is, the article, says, “they’re not wrong, but they’re only partially right. Data governance is actually just a component of data management. To fully embrace and take advantage of your AI/ML program, to leverage its capabilities while mitigating risk, you need a well-constructed, well-designed and mature data management program.”

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CPA Founding Partner

Chartered Professional Accountants of Canada (CPA Canada), one of the largest national accounting organizations in the world, has chosen to become a founding partner of ThinkTwenty20.