Getting Executive Buy-In for AI Investment

Assess Your Readiness

When it comes to artificial intelligence (AI) and finance, the future is now. Gartner tracked a 21 percent leap in finance functions using AI in 2024 compared to the previous year — and among those not yet using it, nearly half are planning an AI implementation moving forward.

So, at a high level, making the case for AI investment these days seems like a no-brainer. Yet successful AI integration requires buy-in and engagement across the enterprise, particularly your executive leadership team. Getting buy-in also unlocks the funding to make it happen — and getting leaders on board and enthusiastic about AI's potential sends a message throughout the organization: innovation is a top priority. Here's the 7-step playbook for getting that essential leadership buy-in.

Before you pitch AI investment to the executive team, ensure you understand the current state of your finance operations. That knowledge will help quantify your readiness to incorporate AI technology. You'll also know where you have the potential to get the most bang for the buck with your initial investments.

A good starting point is Microsoft's recently released AI Readiness Wizard. The tool offers a brief online questionnaire focused on some key elements to consider about AI adoption. One note of caution: don't use your readiness assessment as an excuse to wait until "the perfect time" to invest in AI. Some aspects of your finance operation might not be ready for AI — that's a completely valid concern. But the range of AI options currently available can provide any organization, including yours, with a logical on-ramp to embracing AI.

A Burning Platform

Delay at your own risk. OneStream's recently released survey Finance 2035: Return to Investment emphasizes why now is the time to act. Per the survey, 70 percent of CEOs and 68 percent of CFOs believe that organizations that fail to invest now in tech, infrastructure, and skills won't survive the next five years.

The survey also found that 74 percent of CFOs believe, by 2035, AI and automation will completely reshape organizations' finance function.

Align with Strategic Priorities

Once you have a good grasp on readiness, take a deep dive into your organization's strategic priorities. You should aim to position AI investment as an essential driver of growth and goal attainment.

Your CEO and leadership team's time is rightly focused on key metrics. Look for ways AI investment can be a catalyst to achieve goals in different areas:

Build a Clear Business Case

Creating a data-backed and relevant business case demonstrates that you've done your homework and are recommending investments aligned with organizational goals and priorities. A well-crafted business case helps your leadership team see the direct connection between AI investment and business outcomes. Here's what you should include in a sound, detailed business case:

Identify Success Stories

Everyone loves a winner, so use case studies to offer engaging color commentary that reinforces and elevates your business case. Success stories also give your leadership team confidence that you're not reinventing the wheel or proposing a high-risk gamble.

To that end, identify relevant case studies of companies that have experienced success with AI, preferably in your industry. Software companies such as OneStream typically have a wide range of excellent case studies that feature key data and results. In the case studies, you'll also find candid testimonials from CFOs and finance leaders, adding perspective and context to the results.

Sharing these stories not only increases your executive team's comfort level, but also helps build excitement and enthusiasm for AI investment.

Rally Support Organization-Wide

When making the AI pitch to your CEO or board of directors, get support from across the organization. The last thing you want is a department head from marketing or IT raining on your parade with a flurry of questions.

The good news: you can avoid that challenging scenario. Put in some legwork before the presentation to leadership by socializing your AI plan with relevant department heads. Especially, highlight the anticipated benefits to the enterprise and any positive ripple effects those benefits could create for specific departments.

Knowing you have enthusiastic supporters — as opposed to skeptical detractors — throughout your organization will go a long way toward getting leadership buy-in. Support helps convince them that AI investment will be embraced and successful.

Anticipate Common Concerns

Undoubtedly, while considering a proposed AI investment, your executive leadership will ponder potential risks and downsides to moving forward. You can slay that challenge, too — just do your homework upfront. Think about the range of what-if questions that may emerge, ensuring you've got the answers ready to address any questions effectively. Here are some of the issues to keep top of mind about potential risks:

Be Game-Day Ready

Most likely, all your preparation and due diligence will culminate with a presentation to your leadership team, and perhaps your board of directors, to make your pitch for AI investment.

Go into that meeting with a well-crafted presentation tailored to the technical expertise of your audience. Generally, you want to find a balance. Don't go so high level that it's difficult to envision how an AI integration will be executed. Also avoid digging too deep into the weeds, where leaders might get spooked by the potential complexity of making it happen.

Employ these presentation best practices to help secure the buy-in you need:

1. Incorporate clear visual aids. Use graphs and charts to make the data easy to understand.
2. Emphasize the quick wins. Highlight — and potentially quantify — the most immediate benefits of an AI integration to help increase comfort levels in making the investment.
3. Incorporate "answers" to anticipated questions. Do your homework to weave in those answers throughout your presentation, demonstrating your knowledge and alleviating some reservations before you open the floor to questions.
4. Show and tell. Include highlights from a relevant case study from an organization within your industry to increase buy-in and build enthusiasm.
5. Leave time for questions. Be as prepared as possible to answer leaders' questions with clarity and conviction. Don't have a great answer to a specific question? Say so — then promise to follow up quickly with more specifics.

Most CFOs and finance leaders today understand the essential need to incorporate AI into their operations. Yet real change and innovation can't happen unless the executive team is on board and committed to AI investment. So do your homework, and make it happen. By following this playbook, you'll be equipped to make a compelling case to your leadership team. You'll also have a clear roadmap to successful AI integration that will pay big dividends for your team and organization.