Dag2 02 kristof_stouthuysen_cfo_conferenz

1. ARTIFICIAL INTELLIGENCE (AI): OPPORTUNITY OR
THREAT FOR THE FINANCE FUNCTION?
PROF DR KRISTOF STOUTHUYSEN

2. “THE WORLD’S MOST VALUABLE RESOURCE
IS NO LONGER OIL, BUT DATA!”
-THE ECONOMIST, DECEMBER 2018-
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3. © Vlerick Business School
WHY DATA IS THE NEXT OIL…
LaValle et al., 2011, MIT

4. © Vlerick Business School
SOME IMPORTANT UNDERSTANDINGS
Data
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5. © Vlerick Business School
SOME IMPORTANT UNDERSTANDINGS
Data
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6. © Vlerick Business School
SOME IMPORTANT UNDERSTANDINGS
Data analytics - Importance of machine learning (AI)
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7. © Vlerick Business School 7

8. © Vlerick Business School
SOME IMPORTANT UNDERSTANDINGS
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9. “VIEW OF BELGIAN CFO’S ON THEIR CURRENT AND
FUTURE TASKS”
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10. © Vlerick Business School
TIME SPENT
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Confidential, not to be
distributed.

11. © Vlerick Business School
POLL
For which 3 activities will the CFO spend more time in
the next 5 years?
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12. © Vlerick Business School
POLL
For which 3 activities do CFOs consider themselves
the least effective?
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13. © Vlerick Business School
ADOPTION BARRIERS
1. Technology illiteracy
2. Competing priorities
3. Ability to capture and store data
4. Culture
5. Data quality/or governance
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14. “AI: OPPORTUNITY OR THREAT FOR THE FINANCE
FUNCTION?”
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15. © Vlerick Business School 15
VALUE CREATION
Corporate finance
Performance management
Strategic decision-making
VALUE PROTECTION
Risk management
Safeguarding assets
TRANSACTIONAL
Accounts receivable
Accounts payable
General accounting and reporting
…

16. © Vlerick Business School
3 IMPORTANT MESSAGES
Increasing importance of AI in a data-driven society
Effective CFO:
Finance & Accounting
Business-oriented
Technology (AI)
Belgian CFO needs to embrace much more the
technology component
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