Somewhere along the way, the conversation around generative AI got caught up in the excitement and lost sight of a fundamental truth: AI is not magic.
It wasn’t invented yesterday.
And it won’t work without structure and high-quality data.
A few years ago, we were obsessed with big data—how to manage it, clean it, and extract insights. But now?
Too many companies are skipping straight to AI and are in a hurry to buy anything with an AI label on it without addressing the data foundations needed to make it work.
I recently spoke with Gabi Steele, Co-Founder & CEO of Preql, on The Growth-Minded CFO Podcast together with Lauren (Link to the full episode in the comments).
Her take? Finance leaders must “earn the right” to use AI—by first investing in data governance and infrastructure.
The biggest challenge?
Achieving a single source of truth in financial data.
Right now, finance teams are drowning in fragmented, inconsistent, and siloed data.
Which means?
Even the most advanced AI tools will generate unreliable insights.
?? Without a strong data strategy, AI isn't an asset.
?? It's a liability.
As Gabi put it:
"Budgets are going towards AI and away from data... That is a backward approach—your AI will only ever be as good as your data."
Before chasing the latest AI trend, finance leaders must take ownership of:
? Data quality
? Standardization
? Accessibility
Only then can AI truly enhance decision-making—turning raw data into a competitive advantage instead of a costly mistake.
Are you seeing this same disconnect in your organization?