Finance chiefs are upping their confidence – and investments – in AI technologies
Confidence in AI among CFOs is rising rapidly, prompting increased investment in the disruptive technology. This is according to research by Bain & Company, based on a survey of more than 100 CFOs worldwide.
Bain & Company’s survey reveals that 83% of CFOs plan to increase enterprise-wide AI spending by more than 15% over the next two years, with a significant share of that spending allocated to Finance functions. Notably, 42% of CFOs expect to boost their AI budgets by 30% or more during that two-year period.
Momentum for AI spending by CFOs is already building in the near term: more than half of respondents are raising their AI budgets by over 15% this year, and nearly 21% anticipate boosting AI spending by over 30%.
The strong appetite for AI among CFOs reflects the strategic priorities of finance leaders at large organizations. Around half of the CFOs surveyed by the global strategy consulting firm represent companies with revenues of $5 billion or more, including 26 from organizations generating over $10 billion annually.
Where are AI investments going?
The largest share of AI investment in Finance functions over the next 12 months is allocated towards financial planning, analysis, and reporting.
While CFOs largely invest in AI for the cost and efficiency gains, they ultimately identify speed as their biggest AI win, the survey shows. Amid macroeconomic uncertainty and supply chain disruption, AI enables finance functions to quickly identify risk, reforecast, and reallocate capital, creating a competitive advantage over peers.
“CFOs are entering a decisive moment,” said Michael Heric, partner at Bain & Company in its Performance Improvement practice. “AI is no longer a side experiment sitting outside the core of finance departments. Real capital commitment in AI is now a must for finance leaders to drive productivity, govern risk, and shape organizational performance.”
The execution priority
One of the reasons CFOs are increasing their AI investments is that they are already seeing improving returns. While other studies suggest that return on investment from AI remains elusive across many functions, Bain & Company’s survey indicates that finance functions are ahead in translating investment into measurable results.
However, Bain & Company also notes that returns on AI investments are closely linked to greater scale and maturity in AI adoption, with performance improving as organizations move beyond early-stage use cases.
Among CFOs deploying some form of AI at scale, including machine learning, generative AI, or agentic AI, over 40% are highly satisfied with AI results, compared to just 25% at companies still piloting AI. At companies in the top quartile of AI maturity, CFO satisfaction exceeds 60%. Overall, just 31% of CFOs are satisfied with their AI outcomes.
To advance their AI maturity, the researchers highlight the need to look beyond technology and focus on organizational factors. “The primary constraint on AI’s next wave in finance is no longer technology. It’s work design, controls, and adoption. As AI maturity rises, organizations increasingly cite change management and talent – not technology – as the principal barriers to value,” explained Heric.
The report identifies four imperatives for CFOs to convert AI investment into a structural performance advantage. These include treating speed as a strategic outcome, building a scaling engine rather than a portfolio of pilots, addressing ‘workflow debt’ before deploying agents, and ensuring that yesterday’s pilots do not constrain tomorrow’s ambitions.
