JGSOM faculty tackles AI impact on CFOs at regional symposium

Armin Paul Allado (BS ME ’12), Division Chief at the Bureau of the Treasury and Lecturer at the Quantitative Methods and Information Technology Department, spoke on how artificial intelligence (AI) could alter the role of chief financial officers (CFOs) during the Philippine leg of the DigitalCFO Asia Symposium 2023.

The DigitalCFO Asia Symposium is a regional forum for senior financial decision-makers with legs in Indonesia, Singapore, Thailand, Hong Kong, Malysia, and the Philippines. The Philippine leg of the symposium was held last July 13 at the New World Hotel in Makati City. The Philippine leg had the theme “The Redefined CFO: Future-proofing the Business in Philippines’ Uncertain Economic Climate.” 

Allado opened his presentation by emphasizing the role of humans in an increasingly digital world. “91% of CFOs are concerned with human resources and talents. As an example, [the Bureau of Treasury] is constantly looking to partner with top universities [and] offer internships to young Gen Zs who can come up with digital initiatives,” he shared. “Our other concern would be how to adapt to the increasing digital disruptions.”

Allado highlighted three main points in his talk: uses of AI in finance operations, methods to implement AI in the financial sector, and insights on the practical use of AI. While describing his own experience with AI, Allado focused on his role in risk management and shared how AI can become a tool for customer service, personalized investment suggestions, credit evaluation, and fraud detection when used correctly.
       
As a final message to the audience, Allado remarked, “We will need to reevaluate our readiness to adopt AI and machine learning.”
 

Other speakers during the Philippine symposium included Philippines AirAsia Chief Financial Officer Jared Valarao, Personiv Senior Assistant Vice President Elmer Sarmiento, Cirtek Holdings Chief Financial Officer Brian Liu, EON Group Chief Financial Officer Michael San Diego, Kuehne + Nagel Finance Director Helena Araujo, Home Credit Philippines Head of Commercial Finance Shomit Goel, De La Salle University School of Lifelong Learning Dean Dr. Rodiel C Ferrer, Goldilocks Bakeshop Inc Assistant Vice President Finance Joy Martinez Abot, Travellers International Hotel Group Inc Assistant Vice President Finance Dexter Moya, ADEC-Innovations Principal Auditor Jeff-Mike Smith Sule, Fonterra Finance Director Genesis Trinidad Santiago, Malaya Tech Consulting Chief Executive Officer Rafael Jose Olympia, Embiggen Group Head of Innovation Consulting Jimbo Reverente, GSK Philippines Inc Finance Director Bikash Jain, Principal Solution Consultant at Oracle Aira Mina, Mustard Seed Systems General Manager Judith Adao, NetSuite Philippines Country Sales Leader Jack Yeo, Global Finance Senior Director Baby Ouida Rivera-Montesclaros, Turks by Zeñarosa Food Corporation Assistant Chief Operating Officer Carlo Lorenzo, Livegreen International Inc. Board Member and Director of Organization Development Dr. Benjamin R. Quiñones,  and Industry Solutions Consulting (ISC) Consultant Jonas Marie Dumdum.