AI is expanding the role of chief financial officers, with finance leaders taking on greater responsibility for technology strategy, business growth and the safeguards surrounding artificial intelligence, an IBM Institute for Business Value study has found.
The research, based on views from 1,500 CFOs across 33 countries and 26 industries during the first half of 2026, suggests the finance function is moving well beyond traditional control of budgets, risk and cash.
Nearly two-thirds of those surveyed, or 62%, said their role had already grown to include enterprise technology or AI strategy. More than half also reported greater authority over portfolio management and capital allocation, as well as increased involvement in designing business models and growth strategies.
The shift is expected to continue by 2030. Some 56% of CFOs anticipate taking greater responsibility for the financial and ethical safeguards governing AI, while 55% expect a larger role in operating models, workforce strategies and organisational structures.
A further 52% foresee greater involvement in enterprise value creation and portfolio strategy, according to the study, which describes the most advanced finance chiefs as “AI-first CFOs”.
Jim Kavanaugh, IBM’s chief financial officer and senior vice-president of finance and operations, said the role had evolved from protecting stability to helping shape transformation.
“For years, the CFO role centered on controllership, risk, fiduciary responsibilities, balance-sheet preservation and cash management,” said Kavanaugh, who has been IBM’s CFO since 2018. “Today, technology is at the core of sustainable competitive advantage. The CFO is a value creator.”
Only 6% of finance teams are ready for transformation
Despite the expanding remit, only 6% of CFOs described their finance organisation as ready for transformation, meaning AI was embedded consistently in workflows and decision-making at scale.
Kavanaugh said businesses often moved too quickly towards buying AI tools without first preparing the data, processes and operating models needed to make them effective.
“Many people fail because they start with AI technology first,” he said. “You have to unlock the data and unlock the business-model reimagination of work.”
IBM’s own quote-to-cash process, covering customer quotations, contracts, billing, collections and receipts, had developed 364 different versions across roles and functions. The company redesigned it as an end-to-end process and used AI to automate many of its stages.
Kavanaugh said the changes had delivered 90% touchless automation, a 60% improvement in productivity and a 54% increase in the speed of cash conversion. IBM has generated $4.5 billion in productivity gains over the past three years and is targeting $5.5 billion during 2026.
The company regards those gains as additional capacity to invest in growth rather than simply as cost reductions.
The study found that companies led by AI-first CFOs recorded revenue growth rates 23% higher than those of peer organisations between 2022 and 2024. It assessed their performance across five areas: shaping competitive advantage, governance, intelligence, capital movement and creating strategic options.
Kavanaugh said the finance chief’s role was to connect decisions made across the senior leadership team with investment priorities, operating models and measurable value. “I think CFOs who co-architect the AI strategy business model can shape markets and define new sources of value,” he said.
