The Power of AI in Shaping Strategic Finance Leadership

In 2012, after having spent nearly two decades in the airline industry, Zane Rowe made a bold career pivot. Leaving behind his role as CFO at United Airlines, he stepped into the tech world, joining Apple in a sales position—a move that many saw as risky, but one that would ultimately shape his perspective on finance leadership in the Digital Age. This decision marked the beginning of a transformative journey that would prepare him to navigate the integrated complexities of technology, innovation, and data-driven strategies that lie ahead.

Rowe’s time in the airline industry had enabled him to build a solid foundation for an analytical mind-set. Reflecting on his experience, he is quick to note that “I recognized early-on the power of data and the power of technology and how these could differentiate a good airline from a bad one.” As he tackled the capital-intensive, data-heavy world of aviation, Rowe developed an appreciation for how technology and data could unlock operational efficiency. His work on profitability models helped him to understand how data could unlock hidden insights, a lesson that would become crucial in his later roles in the tech sector.

At EMC and VMware, Rowe saw firsthand how technology could revolutionize business operations. His ability to bridge financial expertise with technology adoption became a defining strength. Now, as CFO of Workday, he applies these lessons to the evolving world of artificial intelligence, aka AI. To him, AI is not simply a tool to streamline processes but also a strategic asset that can unlock untapped value, differentiate companies in competitive markets, and drive business transformation.

“Never stop having the flexibility to ask for advice and talk to peers about what they’re thinking and doing… As CFOs, we don’t do it as much as other executives. Understanding your stakeholder base and the impact of decisions on others is very important.” – Zane Rowe, CFO, Workday

Rowe views AI as an extension of his long-standing belief in the importance of data. By leveraging AI to analyze massive data sets, CFOs can make faster, more informed decisions. This, he believes, enables finance leaders to be not just stewards of the bottom line but also key players in shaping company strategy and future growth. Rowe’s multi-industry career journey, with its blend of traditional finance and cutting-edge technology, has uniquely equipped him to be a leader in the Age of AI.

This Episode: What’s in store?

The Role of AI in Finance and Future Plans

• Zane elaborates on the role of AI in financial planning, emphasizing the importance of data and accurate forecasting.
• He discusses the potential of AI to improve financial processes and decision-making, making them more efficient and effective.
• Zane mentions the company’s long-term use of AI and the upcoming developments in this area.
• He outlines his priorities for the coming year, focusing on driving growth, leveraging AI, and ensuring the company’s investments are aligned with its strategic goals.

CFOTL: Most finance executives know that Workday is a cloud software company that helps companies to manage their human capital, finances, and operations … but what is it that sets this firm apart from its competitors, and what is this company really all about in 2024?

Rowe: We have more than 17,000 customers, with 1,000 or so having attended our annual Rising get-together in person, along with many of our partners. There is truly an ecosystem of opportunity here, in both the human capital management and financials sectors—areas where we can leverage our platform. Everyone is talking about AI, but throughout my career, I’ve found that it’s always been about data—how to grow and leverage it.

Being cloud-enabled from Day One, we manage billions of transactions every year, helping our customers to grow in the critical areas of people and financials. We’re privileged to be embraced by our customers and prospective customers, and now is an exciting time to be growing with the company.

CFOTL: What are your priorities as a CFO for the coming 12 months?

Rowe: We have such a great opportunity ahead with our customers and in helping them to grow around the world. It’s all about being able to execute on this opportunity, as we have so much momentum, which we saw evidenced once again at our latest Workday Rising event, thanks to our enthusiastic customer base and our great technology. As a CFO, I understand that the challenge for me is to always make sure that we’re investing in the right areas so that we can drive some of the change that everybody really wants in their everyday worklife. This is how AI can really help us. It’s actually going to make all of our lives that much better. But, right now, it’s all about how to seize this opportunity and leverage it, so I need to step up and do my part in driving this innovation forward during the next year.