How CFOs at Chevron, ServiceNow and Nasdaq decide which AI bets create value
Source: Fortune ·
Finance chiefs from energy, software and markets say AI has to compete for capital.
From the source
Good morning. AI projects must earn their share of corporate budgets. “It doesn’t get a free pass just because it’s got AI on the front of the opportunity,” Eimear Bonner, CFO of Chevron, told me during a panel session at the Fortune Most Powerful Women Summit in Santa Barbara on Tuesday. “It’s got to compete for capital.” Bonner’s test: a clear path to value, a transformative target and results that show up on the bottom line. “It can’t be a science experiment,” she said. Gina Mastantuno, president and CFO of ServiceNow, agrees AI must pay off, but said the way CFOs calculate ROI is a bit different today. Beyond measuring potential gains in revenue and profitability, finance chiefs must also weigh the cost of inaction: falling behind competitors that adopt AI, with long-term competitiveness at stake, she said. ServiceNow funds projects that strengthen competitive differentiation, solve a customer problem and deliver measurable value on a clear timeline, she said. “I don’t think the…