Why 95 Percent of AI Projects Fail and What FP&A Teams Must Fix in their data and Workflows

In this episode, hosts Paul Barnhurst and Glenn Hopper explore the challenges and opportunities that come with incorporating AI into finance. They discuss why so many AI projects fall short of expectations, the importance of having clear processes and clean data, and how businesses can get the most out of these technologies. The conversation also covers the practical uses of tools like ChatGPT and Excel Copilot, and the need for realistic expectations when adopting new technology.

In this episode, you will discover:

• Why 95% of AI projects don’t deliver the results businesses expect.
• The critical role that data quality and solid workflows play in making AI work.
• How businesses are using tools like ChatGPT and Excel Copilot to enhance financial operations.
• How to integrate these tools effectively into existing systems.
• The importance of setting realistic goals and expectations when using new technologies.

Paul and Glenn stress that while AI offers great potential, it’s important to approach it with a clear understanding of its capabilities and limitations. They discuss how businesses can align technology with existing processes, manage expectations, and avoid common pitfalls.

Join hosts Glenn and Paul as they unravel the complexities of AI in finance:

Follow Glenn:

LinkedIn: https://www.linkedin.com/in/gbhopperiii

Follow Paul:

LinkedIn: https://www.linkedin.com/in/thefpandaguy

Follow QFlow.AI:

Website - https://bit.ly/4i1Ekjg

Future Finance is sponsored by QFlow.ai, the strategic finance platform solving the toughest part of planning and analysis: B2B revenue. Align sales, marketing, and finance, speed up decision-making, and lock in accountability with QFlow.ai.

Stay tuned for a deeper understanding of how AI is shaping the future of finance and what it means for businesses and individuals alike.

In Today’s Episode:

[00:41] - Welcome to the Episode

[01:07] - Funny News of This Week

[04:00] - Why AI Projects Underperform

[09:12] - AI Automation for New Hires: Realistic or Hype

[16:01] - Understanding AI Fundamentals in Finance

[17:41] - Thoughts on ChatGPT-5

[31:06] - Summary of Key Takeaways from the Episode