More than 6 out of 10 CFOs expand into AI, tech strategy: IBM

Dive Brief:

• More than six out of 10 CFOs say their responsibilities have expanded into enterprise technology and artificial intelligence strategy, IBM found in a recent study, indicating that these priorities are moving up the corporate agenda.
• The expanded mandate includes greater authority over capital allocation and business strategy, along with technology and AI strategy, according to the report. Fifty-six percent of CFOs said they have greater authority over portfolio management and capital reallocation, while 54% reported more responsibility for business model and growth strategy design.
• “AI is expensive, and it’s a capital allocation issue: where and how do you allocate, when do you turn it off, and when do you add more money?” Neil Dhar, senior vice president of IBM Consulting, said in an interview. “As you get into capital allocation and return on investment, the CFO is obviously going to play a critical…