The CFO Show

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With continued development, lowering costs and easier implementation, AI adoption continues to rise. Rishi Grover, Vena’s Co-Founder and Chief Solutions Architect joined us on The CFO Show to break down the three major impacts AI is having on The Office of Finance ⤵️

"Hey, ChatGPT. What's the future of AI?" With massive amounts of computing power and huge data sets now much more accessible paired with the Large Language Models that make it possible to speak directly to the new technology, it's no wonder that it's getting more attention than in previous decades. The future of AI might not be set in stone, but we do know one thing — it's not going away. This is no different in the finance space. AI is evolving to answer complex analysis and forecasting questions in real-time. We talk about the current state and future of AI in finance on the latest episode of The CFO Show. Tune in now 🎧

AI is the science used to make a machine or a computer think like a human… That is according to Vena Solutions  Co-Founder and Chief Solutions Architect Rishi Grover. Rishi shares a breakdown of these new technologies and their promising applications in finance and beyond ⤵️ Artificial Intelligence 🧠 A broad set of technologies that helps understand patterns and large amounts of data to make future projections. Machine Learning 📠 The underlying algorithm or engine that's powering AI. Neither of these concepts are new… so why are they just now growing in importance and application? Increased accessibility to massive amounts of data and computing power. Because of this unique intersection and where we are as an industry today, people are taking more notice of AI's ability to push their organizations forward. If you're not implementing AI across your finance team yet, you may be missing out exponentially (and even falling behind). Ready to learn more? Tune in to our full conversation on The CFO Show 🎧

For a long time, really smart finance professionals have been spending a lot of time on really manual tasks… AI can change that. Ask yourself: Where is your finance team spending their time? Are those areas truly the best use of time? Does tech currently exist to ease your manual-task workload? Odds are, there are areas where you can help your team by removing manual tasks and increasing accuracy in data and forecasting. Not sure where to start? We have the answers 🎧 🎙️

Your learning path should be an hourglass.⏳ Some years, you'll learn more than others. It's not about whether it's better to be a mile wide or a mile deep — it's about being able to fluctuate as needed. During the early part of your career, focus on a breadth of topics and learn as much as you can. With experience, narrow your focus to an area of expertise and begin working your way up. 🪜 As you reach more senior levels, work back around to broadening your span of control and working more through influence. Hear more from Bryan Lapidus, FPAC, the Director of FP&A Practice at the Association for Financial Professionals on the latest episode of The CFO Show.

As regulations, finance tools and technologies evolve, finance professionals must engage in continuous learning to stay up-to-date and move at the pace of business. A growth mindset and three key elements that set top-performing teams apart from others in fostering continuous learning are required to achieve this engagement: 1️⃣ Psychological safety 2️⃣ Responsible risk-taking 3️⃣ Adequate staffing and training Remember, your people are your partners — if you want them to be creative and engaged, free up their time and create a safe and supportive environment. The growth mindset will flourish. 

Many CFOs complain their finance people don't know how they make money. If you really want to be good at FP&A — if you really want to be a CFO — you have to know: 💰 How you make money 💵 Where you're losing money 📊 How to show insights and action items to partners Cross-functional learning is where this growth and business understanding happens. It pulls you out of your day-to-day and allows you to meet new people and do new things.

As regulations, finance tools and technologies evolve, finance professionals must stay up to date to move at the pace of business. But, how? Continuous learning — it's not just a nice thing to have; it's a critical necessity in finance. Here's why continuous learning is so important: 1️⃣Learning is incremental — we don't eat all of our meals for the week on Sundays, and we don't stop learning after earning a degree. 2️⃣What we need to know changes — change is constant. We need to match it to keep up. 3️⃣Using what you learned makes it stick — learning needs to be combined with application, so learn something relevant you can apply to your work to reinforce it. To hear more about fostering and promoting continuous learning for your team, listen to The CFO Show's conversation with Bryan Lapidus, FPAC, Director of the FP&A Practice at the Association for Financial Professionals, an organization dedicated to the education and advancement of finance professionals.🎧

Want the best from your team? Provide adequate staffing, training and resources — cultivating an environment of continuous learning in finance requires it. Financial leaders often get too caught up trying to show fiscal restraint or responsibility. As a result, they might forgo increasing headcount or investing in new systems. A true growth mindset doesn't allow for that level of sacrifice. This week on The CFO Show, we're delighted to welcome Bryan Lapidus, FPAC, Director, FP&A Practice at the Association for Financial Professionals. Bryan shares his valuable insights on the importance of continuous learning for finance professionals. Don't miss out on this insightful conversation! Tune in tomorrow on your favorite podcast platform.