Charlie Grubb is Senior Managing Director at Robert Half
Where the C-Suite was once seen as a largely static bastion of tradition, the pace of change in modern business suggests this is no longer the case. Elements including digital disruption, shifting workforce demographics, unpredictable geopolitics and evolving stakeholder expectations are rewriting the rulebook for executives, particularly in the financial markets. Perhaps the main driver is the single biggest technological advancement of the past few years: artificial intelligence.
It’s now clear that the rise of AI is no passing trend, but instead is becoming increasingly embedded in strategy, operations and organisational culture. The ability to harness its potential and that of other emerging tools effectively will be as important to future leaders as financial expertise has been in the past. And, to stay relevant, executives will need to develop new skills, embrace greater agility and ensure others within their leadership and wider teams are also equipped to navigate this transformation.
Changing role of C-Suite positions
Consequently, being digitally fluent is no longer an optional extra, and other technologies such as automation, quantum computing, cloud platforms, and cybersecurity are all – along with artificial intelligence – shifting to the core of modern business strategy. They now act as the scaffolding supporting modern leadership, and the executives of the future must be able to leverage them to their advantage, or risk being left behind.
If we look at data from Robert Half’s recent report, ‘Towards the C-Suite’, Boardroom Navigator 2035, we can see the extent of the impact that the current environment is set to have of skills demands. The vast majority (84%) of leaders believe that AI will be a key skill for the C-Suite in the next ten years, while 60% indicated that workforce transformation experience will be essential by 2035.
This evolving, and increasingly tech-driven landscape will scale up the role of specific managerial methodologies. In fact, the C-Suite study found that there are three styles of leadership that are expected to become more important over the next 10 years. These are transformational leadership, data-driven leadership and agile leadership, which inspire innovation, trust and positive change, help businesses to make informed and objective decisions, and emphasise flexibility, collaboration, and adaptation, respectively.
The evolution of the CFO
When we look at the adapting role of future CFOs specifically, we see a similar trend; namely, the need to master both digital transformation and AI adoption in order to effectively manage ever-growing responsibilities.
In recent years, the role of the CFO has grown far beyond traditional reporting and compliance, and today’s finance chief is expected to influence sustainability reporting, culture, data strategy and innovation, amongst other tasks, all while maintaining rigorous financial control. Perhaps unsurprisingly, AI is becoming essential in this work, particularly in certain labour-intensive and time-consuming areas. But again, other emerging technologies are also contributing, including the use of automation to streamline finance, blockchain to secure transactions and audits, and quantum computing to improve forecasting and risk modelling.
However, despite the growth in available technologies, certain soft skills will remain critical, with the Boardroom Navigator report highlighting analytical precision, clarity in reporting to stakeholders, and a strong sense of accountability as all critical to success in the CFO market both now and over the course of the next decade. The leaders of the future will need to embark on ongoing digital training to ensure they are best placed to capitalise on this combined potential that AI and other technologies offer.
Preparing for the future
Aside from taking on development opportunities, how can leaders ensure they and their C-Suite counterparts are fully prepared to meet the expectations placed upon them?
One priority should be assessing the level of AI fluency in existing leadership teams and those in succession plans. All executives should aim to identify who understands generative AI, machine learning and predictive analytics, and develop targeted training for where gaps exist. This will require governance frameworks that ensure AI is used ethically and responsibly, as innovation should never come at the expense of trust, security or integrity.
Equally, adopting strategies to transform the workforce, including mentoring schemes, knowledge-sharing programmes and skills development initiatives, helps to retain valuable experience while preparing the next generation to lead. In addition, investing in the right tools, developing scenario-based risk plans, placing a focus on data quality and ensuring that every digital investment is tied directly to value creation are all critical tactics for future leaders to adopt. This applies across the boardroom, but has particular relevance for financial leaders.
Clearly, the next decade will test the adaptability and courage of leaders in every sector, particularly finance; however, success will not come from defending the status quo, but instead from engaging with change and learning faster than competitors. AI offers extraordinary opportunities, but they will only be realised if leaders commit to using it responsibly, invest in the right tools, and put people at the heart of transformation. The CFO of the future will need to be both a steward of financial integrity and a strategist for innovation, comfortable with both balance sheets and algorithms, and able to communicate the complexities of both comfortably. Those who can master this blend of skills will not just survive the next decade, but help to shape it.