And where is the human intelligence in the CFO area?

Machine learning will one day find application in almost every industry and department. In terms of business benefits, there is more to ML than just saving money:

It enables the CFO to make predictions about markets, customer behavior and payment defaults; it significantly improves a company's accounting processes and enables a fully digitized workflow - from entry of the booking to the annual report. In addition, machine learning can also help address some of the most pressing issues in forecasting and scenario modeling.

Yet few other technologies provoke similarly heated debates: That's because there are fears and uncertainties about ML.

• What is the impact of machine learning on the finance function?
• How can we ensure privacy and maintain human control over machine decision-making processes?
• Will machines soon match or even surpass human intelligence?

I think: People will continue to play the most important role in finance in the future, but this role will change. The goal should be for humans and machines to complement each other in the workplace with machines to support human work.

The future of work will be influenced by the extent to which machine learning touches the various facets of a business. It is a foregone conclusion that machine learning opens up potential for job automation in many areas.

However, experts are not in agreement about which jobs will be affected by automation and how big the impact will be. Is it "only" the activities in the Global Business Service Centers - or also the central functions of controlling in Treasury and Group Controlling?

But machine learning is also creating jobs - not least because we need specialists to develop and operate ML systems adapted to core processes in finance. Not to mention the fact that human originality, creativity and innovation are more in demand than ever, which means we will create entirely new jobs: based on new intelligent applications.

It's hard to predict what the exact impact will be, but AI is likely to be evolutionary rather than revolutionary. We hold the reins and we can actively shape what is automated and to what extent. Ultimately, our goal is to enhance human potential through technology, not hinder it.

AI is still far from being as multi-faceted as humans - and may never reach that level. The future of work will be determined primarily by the interaction between humans and machines.

It is therefore critical that people use AI to complement and enhance their own capabilities, rather than trying to compete with it.