Will Automation Ever Replace The CFO?
The short answer is, not a chance! Although automation is phasing out jobs in many industries, let’s dive into some of the reasons why automation will never replace the CFO
There is no question that artificial intelligence (AI) is here to stay. As technology continues to improve, it is often said that no industry is safe from the automation train. But what about jobs that require distinct human personality traits? Qualities like leadership, judgment, and experience all affect a human’s ability to think on their feet and make important decisions at a moment’s notice. It is hard to believe that AI will ever reach the same level of human competence that serves such a critical role in executive-level jobs, like the CFO. Let’s look at some other reasons why AI won’t be able to keep up.
CFO’s Makes Decisions That Can Make Or Break A Company On A Daily Basis
Would you feel comfortable leaving the well-being of your multimillion-dollar business in the hands of a robot? I sure know I wouldn’t! There is too much at stake, that can all crumble in the blink of an eye. Better off leaving the robots to flip burgers and make cars, rather than controlling the fate of sometimes millions of people.
There’s No Substitute For Human Interaction
We are social animals. The best strategic planning meetings require complex collaboration that cannot be matched by AI. Humans have the ability to unlock passion and enthusiasm in those around us. This is part of what has made us such a successful species, especially in the aspect of business and decision making.
Too Many Unexpected Variables
There is never a dull moment being a CFO. Constantly evolving circumstances make it difficult to plan on what will happen next. One minute the stock market is up, the next it’s down. This trend is all too common in many areas of business. This makes it nearly impossible to program a machine to fill this role, there is too much uncertainty as to what will happen next.
Although some believe that no job position is safe from automation, I think it’s safe to say that executive-level positions like the CFO will remain unscathed. There is no doubt that AI will streamline things like monotonous accounting work, and even make the job of the CFO easier, but it will never eliminate the need to have a human mind present to make crucial decisions.
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