The US has been making a transition into a postindustrial society for some time now, in which creative service-based goods (as opposed to material goods) are the driving force of the economy. As waves of technological innovation continue to flood the marketplace each year, industries have had to turn to a new brand of financial expert for ideas. This expert, known as the “postmodern CFO,” must be capable of overseeing the transitional effects of post-industrialization.

The new skills postmodern CFOs have, or in other words, the ones CFOs must soon expect, include:

1. The ability to create business models that reflect market trends. This requires business and marketing expertise, and incorporates analytical skills.

2. The ability to attend to core financial responsibilities while also recognizing and reacting to customer/client feedback, as well as social trends.

3. With the influence that politics and media now have on modern economics, CFOs must have the ability to foresee the influence of external trends on business and finance.

Although human involvement remains a key factor in business development, recent studies may indicate that technology is--and always will be--the future of most industries. 56% of businesses have some established form of artificial intelligence (AI) that has increased productivity and allowed companies to cut back on expenses and resource their funds into more valuable growth opportunities.

Of course, it shouldn’t be assumed that technology is trying to replace anyone. In the professional world, technology should be thought of as a tool that’s there for business owners themselves to own and control. The evolution of technology, especially in the past decade, has expanded the field of business exponentially. Valuable labor costs have the potential to be refocused within one’s own business while productivity and returns are doubled. All of this is being achieved through AI.

The most informed CFOs should be well aware of the impact AI has on various fields of business. Besides its clear influence on any manufacturing-industry, AI itself is a promising market that serious business owners are not overlooking. Nearly 33% of major business owners are expected to invest between $500,000 and $5 million by this time next year.

AI’s strongest role is that of automation. Companies are often surprised by the number of tedious tasks that can be performed by AI, saving both time and money. The return of investment alone from investing in AI is enough to make investing a serious consideration. Keep in mind that the future of most jobs involves not how well conditions can be improved in existing circumstances, but how well the workplace will adapt to brand-new circumstances.