In the era of digital transformation, CFOs have had to expand their traditional finance roles and take on several new responsibilities:

1. Digital Strategy Leadership: CFOs now play a crucial role in shaping and executing digital strategies that drive business growth and operational efficiency. This includes everything from selecting and implementing financial technology solutions (FinTech) to digitalizing various financial processes.
2. Data Governance: As companies increasingly rely on data, CFOs are tasked with establishing strong data governance frameworks. This includes setting policies around data usage, ensuring data privacy and compliance with regulations, and maintaining the integrity and security of financial data.
3. Business Intelligence and Analytics: CFOs are leveraging advanced analytics, machine learning, and AI to gain deeper insights into business performance, customer behavior, market trends, and financial risks. They are driving the shift from backward-looking analysis to predictive and prescriptive analytics.
4. Cybersecurity: With the rise in digital financial transactions and data storage, the CFO is responsible for overseeing cybersecurity measures, protecting the organization's financial data from potential threats and breaches.
5. Driving Innovation: CFOs are now expected to be at the forefront of technological innovation, identifying opportunities for automation, artificial intelligence, and machine learning to improve financial management and provide strategic insights.
6. Change Management: With the introduction of new technologies, CFOs must also lead change management efforts, ensuring employees adapt to new digital tools and processes, and nurturing a culture that embraces digital transformation.
7. Investing in Digital Skills: The CFO is also responsible for ensuring the finance team has the skills necessary to operate in a digitalized world. This might involve providing training on new software systems, or hiring for roles with more specialized digital skills, such as data scientists or analytics experts.

In the digital age, CFOs are evolving from financial stewards to digital leaders, using technology to drive strategic growth, enhance decision-making, and improve financial processes.