Dive Brief:
- Business executives consider artificial intelligence a leading tool for decision-making, with 61% citing large language models such as ChatGPT, Claude, Gemini and Copilot among the sources that most influence their strategic decisions, software vendor Board said in a report released Wednesday.
- The finding was most pronounced among CFOs, with 69% citing LLMs among the resources that inform their decisions, compared with 58% of chief operating officers and 56% of chief information officers.
- “CFOs, by nature, are typically a little bit more conservative and skeptical, so I think what this shows is that the AI wave is so strong that it can't be ignored,” Board CFO Gordon Pothier said in an interview.
Dive Insight:
The findings come just a few years after ChatGPT burst onto the market, highlighting how quickly advanced AI tools have reshaped the way businesses operate and make decisions.
LLMs were cited more often than several established sources executives use for strategic input, including industry peers and professional networks (42%), technology vendors (37%), market trends and competitive intelligence (30%), and external consultants (28%).
The prominence of AI in executive decision-making could at least in part reflect pressure from corporate boards, Pothier said.
“Do I really want to be the CFO who is not catching onto the wave?” he said.
The degree of reliance on the technology varies by role, according to the study. Forty-eight percent of CFOs said they follow an AI recommendation when it conflicts with their judgment, compared with 33% of CIOs and 11% of COOs.
A recent report from software provider PEX offered a different perspective, showing a significant trust gap among finance leaders when it comes to AI. While 66% of finance and operations leaders said they were interested in using AI, only 28% said they were comfortable letting the technology make routine finance decisions, PEX found. Trust in the accuracy of AI output was the top barrier to implementation, cited by 36% of respondents.
Pothier said it is always wise to pressure-test AI recommendations before moving forward with them.
“There’s a responsibility when AI conflicts with your own judgment to do some due diligence. You don’t just go along with what AI is saying,” he said.
The survey was conducted in May and June among 300 U.S. C-suite executives at organizations with at least $100 million in annual revenue.
