Every CFO in 2023 had two words clattering around in the back of their minds, and you already know what they are: generative AI.

By the end of the year, you couldn’t have a conversation or attend a conference without hearing those two words over and over. To some finance chiefs, the burgeoning tech offered a clear directive to evolve—or die.

But all of this was less evident at the start of 2023, when many finance departments were blissfully unaware of the industry-wide shocks to come. Now, CFOs have weathered the AI hype, and they’re looking ahead to 2024 with more level-headed approaches to possible tech trends in the new year.

Interviews have been lightly edited for length and clarity.

Shannon Nash, CFO at Wing

Generative AI will continue to be hot in 2024. CFOs are not just using AI to make our finance tasks smoother; they are also getting their hands dirty understanding its bigger picture for the entire business. It’s a balancing act where, on one side, there’s endless possibility of what AI can do for us functionally, and on the other, there is a whole world of risks that we need to manage. We’re evolving into tech-savvy leaders prepared to juggle AI’s complexities in shaping business strategy and risk management. And as AI becomes a big player in the business world, both its costs and usage are shooting up, which makes it that much more imperative that a savvy CFO has in-depth knowledge of the space.

Continue reading CFOs predictions for the year in tech here.—NP

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Being CFO of the nation’s largest Girl Scout council is no easy task. It’s a demanding job, one that involves managing the finances needed to keep 46,000+ Girl Scouts and more than 30,000 volunteers and lifetime members active. But it’s also a rewarding one, as Jessica McClain can attest. Growing up, she was a Girl Scout in Nation’s Capital, the same council, or geographic region, where she now serves as CFO. “I came home,” she said.

The nonprofit organization’s purpose resonates with her deeply. “I believe in the mission, having been a Girl Scout myself,” she said. “It gives me such a sense of fulfillment in the role that I play helping build the next generation of leaders.”

McClain spoke with CFO Brew about how she prepared for the CFO role, what it takes to be a nonprofit CFO, and yes, about how she forecasts cookie sales.

Keep reading Jessica’s story here.—CV

Walgreens doled out some tough medicine to its investors this week when it cut its quarterly dividend to shareholders nearly in half, in a move to conserve cash and strengthen its long-term financial position, according to CEO Tim Wentworth.

Illinois-based Walgreens Boots Alliance Inc (WBA), which operates one of the largest US drugstore chains, on Thursday declared a quarterly dividend of 25 cents per share, a reduction from 48 cents per share the previous quarter. The dividend will be payable on March 12.

The move will allow Walgreens to increase cash flow and free up capital “to invest in sustainable growth initiatives in our pharmacy and healthcare businesses, which we believe will ultimately improve shareholder value,” Wentworth said in a statement.

For more on Walgreens’s move, click here.—AZ

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