The Future of Work in Finance Episode 2: Lessons on AI Adoption from Our Fireside Chat with Mark Flournoy

At LuminaData, we believe the finance function is at a turning point. AI is no longer a distant promise; it is reshaping how CFOs and their teams operate today.

In the second episode of our Future of Finance Fireside Chat series, our guest was Mark Flournoy, Chief Accounting Officer at RealPage, who has led large-scale digital transformation initiatives in enterprise finance. The discussion revealed critical lessons for finance leaders navigating AI adoption.

From Scorekeepers to Strategists

As Mark highlighted, finance leaders cannot remain “scorekeepers.”

Traditionally, finance teams focused on reporting and compliance. But with AI taking on manual, repetitive tasks, CFOs and their teams can now pivot toward driving insights, guiding decisions, and shaping strategy.

The future CFO is not simply a reporter of results but a driver of business transformation.

AI = Automation + Intelligence

Mark drew a sharp distinction between automation and AI.

Where RPA automated repetitive steps, AI adds intelligence. It adapts, learns, and delivers insights rather than just executing scripts. This evolution moves finance from efficiency to strategic value creation.

Why 95% of AI Projects Fail

A headline statistic framed part of our discussion: 95% of AI implementations fail.

Mark explained that technology is rarely the reason. Failures often stem from culture and change management. Enterprises too often aim to “boil the ocean” with massive projects instead of proving value with pilots.

The proven path to success: start small, demonstrate results, and scale.

AI Will Not Replace Finance Leaders

Fear that AI will replace finance professionals is widespread.

Mark emphasized that this is a misconception. AI does not replace people; it replaces manual tasks like reconciliations and data mining. This allows finance professionals to focus on higher-value analysis and strategy.

AI is best understood as an enabler of people, not a substitute for them.

How to Evaluate AI Tools

Mark shared practical criteria that finance leaders should consider when evaluating AI solutions:

• Integration with existing systems

• Scalability as the organization grows

• Demonstrable ROI

• Trust and usability for teams
  
  
  

Choosing the right tools is not just a technical decision — it’s about building confidence and adoption within finance teams.

Key Takeaway

This conversation reinforced an important truth: AI is not another efficiency upgrade. It is a fundamental shift in how finance operates.

Finance leaders who embrace AI, start with targeted pilots, and lead their teams with trust will be the ones who thrive in this new era.

We thank Mark Flournoy for joining us and sharing his perspective.

Stay tuned for upcoming episodes of the Future of Finance Fireside Chat as LuminaData continues to explore how technology is reshaping the role of finance!