Lack of governance coordination on AI costing companies - Accounting Today

A survey by Accounting Today reports that a lack of coordination in AI governance is costing companies through inefficiencies, increased risk exposure, and potential regulatory penalties. The survey involved finance decision-makers and executives from various organizations.

The survey found that 57% of finance decision-makers are not confident AI tools will operate within existing controls, while 61% of executives are very confident about AI compliance. Additionally, 47% of companies have no single owner for AI governance, and 45% of firms are not very confident they can maintain control over AI systems. The report notes these gaps make it harder to respond to regulatory scrutiny.

The findings indicate a disconnect between executive confidence and operational concerns regarding AI governance. The report suggests this lack of coordination creates challenges for maintaining control and accountability as AI adoption increases across financial functions.