Basware CFO Martti Nurminen states that finance leaders must begin AI upskilling with ambition, emphasizing the need to balance financial accuracy with AI innovation. In an interview, Nurminen highlighted the significant shift in his own calendar, dedicating more time to studying AI and engaging with teams and external partners compared to a year ago.
Nurminen, who has overseen finance at the Finland-based Basware since 2019, draws parallels between his role as a goalkeeper in Finnish soccer and his responsibilities as CFO. He noted that goalkeepers must anticipate situations and act decisively, much like finance leaders must prepare for potential scenarios. “On a great day, you can even save the team with a great save. On the other hand, if you screw up, it’s immediately at the scoreboard,” he explained.
The challenge, Nurminen says, lies in reconciling finance’s deterministic models, where outcomes must be clear, rules-based, and verifiable, with AI’s probabilistic nature, which provides likelihoods rather than certainties.
He stresses that CFOs must carefully evaluate which processes can benefit from AI while maintaining strict guardrails. “We can’t have a situation that we ask a question now, and then I ask the question five minutes later, and I get a different answer,” he emphasized.
Read Also: BlackLine CFO outlines NetNow integration plan
Nurminen envisions CFOs increasingly taking on the responsibility for setting AI policies, such as defining acceptable tolerance levels for invoice discrepancies. According to a 2023 IBM Institute for Business Value survey, 56% of finance chiefs expect to hold more authority over AI governance by 2030, while 79% collaborate with technology leaders on AI decision-making frameworks. Additionally, 62% of CFOs have taken on new technology or AI strategy roles in recent years.
For CFOs to effectively design these systems, mastering AI technologies closely tied to their company’s competitive edge is essential. Nurminen argues that proficiency in AI is non-negotiable for maintaining strategic advantage. His career, which includes roles at IBM and Affecto, reflects the changing nature of finance leadership in an AI-driven environment.
This distinction requires careful scrutiny. For example, financial reporting must remain precise, whereas predictive analytics for budgeting might benefit from AI’s pattern recognition.
Nurminen warns that inconsistent results from AI queries could undermine trust in financial data. “Accurate financial data remain the bare minimum,” he noted, urging leaders to prioritize processes where AI complements rather than compromises reliability. As AI becomes embedded in corporate operations, CFOs are poised to lead governance efforts. Nurminen highlighted the need for clear policies, such as setting thresholds for acceptable price discrepancies in invoice matching. “The job of finance leaders increasingly will be to set those policies, as well as the rules and regulations,” he stated.
