AI in Decision-Making: The CFOs’ Perspective : A qualitative study exploring the intentions and conditions for AI adoption in financial and strategic decision-making.

Sammanfattning

Background: Technological advancements are expanding the possibilities for data- driven decision-making beyond traditional methods. Recent developments in Artificial Intelligence (AI) offer new opportunities to perform advanced analytics to enhance financial decision-making, yet the actual AI adoption remains low. While previous research offers plausible explanations, it lacks a micro-level perspective specifically focused on CFOs and their use of AI in decision-making. Purpose: This study aims to explore how CFOs currently utilise AI tools, the factors influencing their adoption, and their outlook for the future. The study will utilise the Technology Acceptance Model (TAM) with the purpose to increase the understanding of CFO’s use of AI in decision-making. Methodology: This is a qualitative study with an abductive approach. The study was conducted through semi-structured interviews with 14 respondents. A thematic analysis explores the key factors of the TAM and is further enriched by examining technical, individual, and organisational conditions. Results: The empirical findings confirm that AI implementation among CFOs remains low relative to its potential, despite a generally positive attitude towards it. In the long term, CFOs perceive AI as a functional tool for improving efficiency. However, currently there is limited trust in the output AI generates and as the technological developments have outpaced many companies’ digitalisation progress, many CFOs currently lack the conditions to adopt AI in decision-making.