CohnReznick Executive Outlines Strategic Approach to AI Implementation for Businesses

Mel Walker, Managing Director and Data & AI Practice Leader at CohnReznick, recently discussed the company's approach to helping businesses navigate artificial intelligence implementation. CohnReznick, which has provided accounting, risk management and digital transformation services for decades, is seeing increased demand from clients seeking guidance on AI strategies across finance, healthcare, retail and manufacturing sectors.

According to Walker, many clients are currently in the learning and exploration phase, examining what AI capabilities already exist within their current applications. The company helps businesses optimize performance and manage risk through proper AI implementation strategies. Walker emphasized that companies often overestimate their data readiness for AI adoption, noting there is typically significant room for improvement in data optimization before successful AI integration can occur.

Walker advocates for a cautious and strategic approach to AI adoption, warning against implementing the technology without thorough consideration. She recommends using AI where it makes practical sense rather than adopting it simply for the sake of using new technology. Walker suggests businesses begin their AI journey by exploring capabilities already embedded in existing tools such as Hubspot for customer relationship management or Salesforce for sales leads management.

The executive predicts that AI adoption will follow a slow and steady trajectory, particularly among C-suite financial executives who will likely test the waters cautiously before full implementation. Security and trustworthiness remain critical factors in adoption decisions, with companies only moving forward with AI solutions they can confidently rely upon for business operations.

Walker maintains a positive outlook on AI's role in the workplace, countering concerns about job displacement by emphasizing how AI will augment rather than replace human workers. She envisions AI ultimately making work life easier and potentially contributing to reduced work weeks as productivity increases. The commentary suggesting AI will eliminate jobs is overblown, according to Walker, who believes the technology will enhance rather than diminish human capabilities in the workplace.

CohnReznick's expertise in tax, audit and finance positions the firm as an ideal partner for companies seeking to integrate AI into their operations responsibly. The company's approach focuses on ensuring proper policies, processes and data optimization are in place before AI rollout, helping clients prepare for the anticipated ubiquity of AI technology in business environments.