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It’s officially spring. The sun is shining, birds are singing (at least in our neck of the woods), and CFOs are feeling upbeat.
According to the latest Deloitte CFO Signals survey, CFOs are much more optimistic about both the economy and their companies’ prospects than they were last quarter. 59% of the 116 CFOs surveyed, from the US, Canada, and Mexico, said the North American economy was “good or very good,” compared with 47% last quarter. And 54% saw the region’s economy improving over the next year, up from 37% in Q4 2023.
CFOs are also more likely to see the glass as half full when it comes to their own companies. 42% felt optimistic about their businesses’ outlook, compared with 38% last quarter and 19% in Q3 2022, its post-pandemic low. Only 11% felt pessimistic, down from 27% last quarter and 41% in Q4 2022.
AI adoption: Half of the CFOs surveyed named finance as one of the top five areas where their organizations are exploring GenAI use. (IT was tops, chosen by 64%). And 93% said it’s at least somewhat important to bring people with GenAI prowess into the finance function over the next two years.
But it doesn’t seem like AI will be replacing finance staff any time soon: 36% of CFOs described its impact on their finance talent model as “minimal,” and only 8% said it had a “moderate” effect. The others said it had “no impact” (25%) or that they were undecided or found it too soon to tell (31%).