Technology
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Scammers siphon $25M from engineering firm Arup via AI deepfake ‘CFO’
Cybercriminals utilized AI deepfakes to falsely pose as Arup’s CFO and other employees, leading a staff member to transfer $25 million to Hong Kong bank accounts.
By Grace Noto • May 17, 2024 -
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OpinionThe problem that made ‘zero-based budgeting’ unachievable just got solved
Accounting for every dollar was largely just an elusive aspiration in finance circles — until artificial intelligence arrived, writes Globality’s Seth Catalli.
By Seth Catalli • May 14, 2024 -
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TrendlineCFO best practices in the evolving generative AI era
As the initial frenzy around the launch of generative artificial intelligence subsides, a new GenAI era appears to be taking shape.
By CFO Dive staff -
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Congress wants to question Microsoft exec over security defects
A House panel wants to question Brad Smith, Microsoft’s president and vice chair, over the company’s security shortcomings and how it plans to strengthen security measures.
By Matt Kapko • May 13, 2024 -
Courtesy of Instacart
Instacart taps VP of finance, former Uber exec for CFO seat
The new CFO said the company remains “relentlessly” focused on investing in new technologies and cultivating its partnership with Uber.
By Alexei Alexis • May 9, 2024 -
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AI-driven cash flow management startup gets $15M boost
Panax is among companies that say they’re seeing high demand for finance automation tools as businesses try to navigate an uncertain economic environment.
By Alexei Alexis • May 8, 2024 -
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Generative AI enables small accounting firms to challenge big ones: AICPA
Accountants should respond to the rapid pace of generative AI adoption by embracing it and delving into experimentation, the AICPA said.
By Jim Tyson • May 7, 2024 -
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Fraud detector Traceable zeroes in on GenAI threats
The startup is rolling out new AI-related threat detection capabilities on the heels of securing $30 million in funding from investors, including Citi Ventures.
By Alexei Alexis • May 7, 2024 -
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Only 34% of firms deploy safeguards against generative AI threats: Splunk
Generative AI gives cyberattackers an edge over cyber-defenders, according to security experts surveyed by Splunk.
By Jim Tyson • May 6, 2024 -
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Microsoft says cybersecurity overhaul will impact top execs’ pay
The development follows harsh criticism by a Department of Homeland Security panel of the company’s response to a 2023 breach.
By Alexei Alexis • May 6, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC hits Trump Media auditor with $12M fine
BF Borgers, an auditor of public company financial statements, has committed massive fraud impacting more than 1,500 SEC filings, the agency said.
By Alexei Alexis • May 3, 2024 -
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Peloton cuts jobs, searches for new CEO amid financial turmoil
“We made some very tough decisions, and while we firmly believe these actions are the right thing to do for the business, cuts like this are painful,” CFO Liz Coddington said.
By Alexei Alexis • May 2, 2024 -
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Marriott gears up for another year of major tech spending
The company expects full-year investments to reach $1 billion as digital transformation projects advance, according to its latest earnings call.
By Lindsey Wilkinson • May 2, 2024 -
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US inches forward on real-time payments: report
“Real-time payments are still in their infancy in the U.S., accounting for only a 1.5% share of the total payments volume in 2023,” according to a report by ACI Worldwide.
By James Pothen • May 2, 2024 -
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Auditoria.AI’s ‘human-in-the-loop’ option targets automation-wary finance teams
When it comes to new technologies, CEO Rohit Gupta sees CFOs and their finance teams as “fast followers” rather than early adopters.
By Maura Webber Sadovi • May 1, 2024 -
Courtesy of AWS
Amazon clinching bigger, longer cloud deals after AI boost: CFO
Amazon is the latest tech giant whose hefty AI spending has been rewarded by Wall Street in the current earnings season. Meta has been an exception.
By Alexei Alexis • May 1, 2024 -
Courtesy of Consortium of Cybersecurity Clinics
Escalating cyber talent shortage drives up risks: report
Cybersecurity threat actors' innovative methods are driving up demand for professionals with diverse and specialized skill sets, the World Economic Forum said.
By Alexei Alexis • April 30, 2024 -
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Meta falls in AI reckoning as Microsoft, Google soar
Investors rewarded AI spending strategies at Microsoft and Google but rebuffed Meta, whose stock plummeted.
By Alexei Alexis • April 30, 2024 -
CFO Editorial Staff
FedNow pricing aimed at avoiding market disruption
The Federal Reserve aimed to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a Fed official said Wednesday.
By James Pothen , Lynne Marek • April 29, 2024 -
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‘Quantum advantage’ may boost businesses $2 trillion by 2035: McKinsey
The federal government has stepped up investment in quantum technologies, more than doubling research and development spending since 2019.
By Jim Tyson • April 26, 2024 -
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Tesla CFO eyes pullback in EV market amid slumping sales, restructuring
Tesla is leaning on AI, layoffs and new autonomous projects to help boost its future sales after a disappointing first quarter.
By Grace Noto • April 24, 2024 -
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Shifting accounting norms for the AI age: EY
The rise of AI in the accounting space could bolster the need for core financial skills and expertise, EY’s Daren Campbell says.
By Grace Noto • April 23, 2024 -
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Big Six tech firms’ profit momentum could be headed for collapse: UBS
The companies’ growth in earnings per share is projected to drop to 15.5% by the first quarter of 2025, from an estimated 42.2% for the same period in Q1 2024.
By Alexei Alexis • April 23, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
High Court ruling eases blow of SEC’s new cyber rules: analysts
The court’s decision in Macquarie Infrastructure Corp. v. Moab Partners makes it harder for plaintiffs to bring claims based on omissions in SEC filings.
By Alexei Alexis • April 23, 2024 -
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Accounts receivable automator Versapay taps new CFO
Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.
By Maura Webber Sadovi • April 18, 2024 -
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NSA sounds alarm on AI’s cybersecurity risks
Malicious actors on the hunt for sensitive data or intellectual property may be attracted to attack vectors unique to artificial intelligence, the NSA warned.
By Alexei Alexis • April 18, 2024
