As businesses across the globe continue to embrace artificial intelligence (AI), finance teams are at the forefront of this transformative journey. From automating manual routine tasks to delivering unprecedented insights, AI is reshaping the landscape of financial operations. Here's why, how, and what results to expect if finance teams want to prepare for an AI-powered future. My shared knowledge is based on the latest industry trends and my experience leading NetSuite ERP implementations across diverse organizations.

As a former finance manager and CFO, I can say that technology can finally replace tedious tasks such as chasing time sheets, supplier invoices, POs, and other approvals. But not just that, process automation, analyzing accounting data, and proposing corrections are all on the list of things AI can do for us. AI demands a re-evaluation of the skills finance teams need. According to McKinsey, CFOs have high expectations for the outcome of using AI and generative AI. 85% of CFO’s believe that AI and gen AI will generate insights that enable employees to spend more time on value-adding—rather than manual—tasks and will improve employees’ overall productivity. 

Why you should start utilizing AI now 

Imagine a finance team where AI is used to perform accounting, control the accounting entries based on general- and in-house governance policies, manage authorizations and approval, as well as chasing (especially the last 20% that’s always late). At period close, intercompany and account reconciliation is already performed during the month and AI has proposed and made most of the corrections and accruals (including approvals). The controllers receive reports and summaries with recommended actions and areas to analyze more closely. The finance team generally spends 80% (instead of 20%) of their time supporting the business and planning to improve performance. I bet you’re glad this team is not your competitor’s finance team? Well, by the end of this year it could be. You should not wait around.  

Three good reasons to start using AI in your finance team

Here, you will get three good reasons why you should start implementing and start to use AI in your finance team.

1. AI is cheap, easy to use, and saves time

Within the last 1-2 years, AI has become very user-friendly, with increasingly relevant results and low costs for adopting AI technologies. There is almost a 100% chance that your team members have already used AI to gain insights from spreadsheets, create reports and presentations, draft emails, or perform other tasks.

2. Prioritize AI and delegate internally

The demand for AI expertise will not decrease in the next years—it will increase significantly. According to a McKinsey survey, only 20% of CFOs use gen AI tools, and nearly half are still in the pilot and experimentation phase. Make sure your team spends enough time experimenting with AI, delegate responsibilities, and mandate to make a difference with you being a bottleneck.

3. Get involved in efficiency gains

In finance functions that have already adopted generative AI, CFOs experience increased employee productivity as a benefit, according to McKinsey. 71% report improved employee productivity, and over half report better use of existing data in decision-making. Analyze your team’s pain points and inefficiencies and seek help from professionals. AI is moving more rapidly than any former IT revolutions, the likelihood that you will succeed with this on your own is relatively low. Focus on quick wins with high impact to get started. Don’t underestimate IT security, but don’t be paralyzed by it. Take one step at a time, but with a high pace.

How to build an AI-based finance team in three steps

Preparing your finance team for the AI era is not a one-size-fits-all endeavor. It requires intentional planning, cross-functional collaboration, prioritizing, and a commitment to continuous learning. By embracing three simple steps, CFOs can build resilient teams ready to navigate an AI-driven future.

1. Plan

Create a plan for AI experimentation. Starting small but strategically can yield big wins. I.e. start leveraging AI within existing analytics tools to highlight patterns and inform predictive models. Don’t underestimate the importance of experimentation—it’s less about perfection and more about progress. Involve the entire organization and stakeholders. Some of the best AI use cases come from beyond finance. For example, HR teams using generative AI to draft job descriptions can offer valuable insights into AI’s practical applications. Establishing an AI innovation committee—pulling together leaders from various departments—can drive broader adoption and learning.

2. Prioritize

Focus on High-Impact AI Initiatives. Not all AI initiatives will have the same impact—CFOs must prioritize projects that deliver the greatest value while aligning with business goals. Start by identifying finance processes where AI can create immediate efficiency gains and strategic advantages. For example, automating routine tasks like accounts payable, reconciliations, and expense management can free up valuable time for higher-level financial planning. Similarly, AI-driven forecasting and risk analysis can enhance decision-making, allowing finance teams to shift from reactive to proactive strategies.

3. Fail fast

The real meaning of fail fast is “fail, learn quickly, and adapt fast”. Live and encourage rapid experimentation, quick learning from mistakes, and fast iteration. The idea is to test new ideas or solutions quickly, identify what doesn’t work, and pivot or improve before investing too much time or resources. Let your finance team experiment with AI automation for invoice processing and quickly test different tools. If one solution leads to too many errors, analyze the failure, tweak their approach, or try a different tool—without wasting months on a flawed system. In short, "fail fast" isn't about embracing failure—it's about failing efficiently to succeed sooner.

Three key benefits of implementing AI in finance teams  

1. Enhanced business support

Smarter decision-making with real-time insights. AI improves financial assistance across the organization to facilitate better data-based decisions. Additionally, it offers improved reporting and more accurate forecasting by supplying real-time, data-driven insights. CFOs can make quicker, more informed decisions with AI-powered analytics, predictive modeling, and automated reporting. This results in better financial visibility, enhanced risk management, and stronger business support, empowering leaders to make strategic moves based on accurate, live data instead of outdated reports.

2. Reduced costs and optimized software investments

AI streamlines financial operations by automating manual tasks, reducing the need for additional headcount, and minimizing costly human errors. AI-powered solutions also consolidate tools and eliminate inefficiencies, ensuring CFOs invest in the right software rather than overspending on redundant systems. This lowers overall finance operation costs while boosting productivity.  

3. Stronger compliance and risk management

AI helps finance teams detect anomalies, prevent fraud, and ensure regulatory compliance by continuously monitoring transactions and identifying potential risks. Automated compliance checks reduce errors, while AI-driven audits improve accuracy and transparency—protecting the business from financial and reputational risks.  

Ready to build an AI-driven finance team?

Technology plays a pivotal role in this transformation. NetSuite’s AI capabilities—from generative AI summarizing financial reports to predictive analytics highlighting trends—equip finance teams to focus on high-value work. These tools exemplify how technology can act as an enabler, not a replacement.

At Antire, we believe that people remain at the heart of every technological breakthrough. At Antire, we help finance teams harness AI to unlock new opportunities and drive business performance. AI isn’t about replacing accountants or CFOs—it’s about empowering them to create more value.

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Here you will find the McKinsey report "CFO perspectives on the future of finance".