Good morning, CFOs. Finance chiefs are making sure their companies’ investments in generative artificial intelligence generate a return.

The stakes can feel enormous, and nobody wants to be left behind by their rivals. Companies across industries are testing generative AI, exploring new ways to make their workforces more productive, communicate with customers or improve financial forecasting.

“In the spirit of the unknown, organizations are taking a leap of faith,” said Todd Lohr, U.S. technology consulting leader at KPMG, adding that companies are gauging returns using metrics such as productivity gains and employee satisfaction, as well as revenue. “This might not be the traditional ROI,” he said.

Companies, he continued, “don’t fully appreciate all the benefits yet, but we think from a disruption perspective, we need to invest in [generative AI].”

But the technology can also come with a multimillion-dollar price tag for companies spending money on infrastructure, staff and partnerships with software providers. In the next 12 months, 43% of U.S. companies with at least $1 billion in annual revenue expect to invest at least $100 million in generative AI, according to a survey of 220 companies published Friday by KPMG.

Monday

• The Census Bureau reports new residential sales data for February.

Tuesday

• Earnings: GameStop, McCormick
• The Census Bureau releases the durable goods report for February.
• The Conference Board releases its Consumer Confidence Index for March.
• The Federal Housing Finance Agency releases its Home Price Index for January.

Wednesday

• Earnings: Carnival, Cintas, Jefferies Financial Group, Paychex

Thursday

• Earnings: Walgreens Boots Alliance
• The Bureau of Economic Analysis releases its final estimate of fourth-quarter gross domestic product growth.
• The Institute for Supply Management releases the Chicago Business Barometer for March.
• The National Association of Realtors releases its Pending Home Sales index for February.

Friday

• Equity and fixed-income markets are closed in observance of Good Friday.
• The BEA releases the personal-consumption expenditures price index for February.

The world’s largest, most-important financial market is growing by leaps and bounds. On Wall Street, that is making people nervous.

Annual issuance of U.S. Treasurys has exploded, nearly doubling since the pandemic began. The government sold a record $23 trillion worth in 2023. And few think the spree is going to slow soon, given the widespread expectation that government spending will continue to rise regardless of who wins November’s elections.

• Netflix’s decision last year to appoint co-chief executives didn’t look like a recipe for success. But so far, the naysayers’ fears are being proven wrong.
   
• Masimo will look to separate its baby monitor and smart watch businesses, months after the company won its years-long expensive legal battle against Apple over certain features in its watches.
   
• New York Community Bancorp and commercial mortgage broker Meridian Capital Group rode the New York property boom fueled by low interest rates, going from local upstarts to major players in the real-estate world. The two companies’ fortunes have now shifted in a new era of higher rates and tumbling building valuations.
   
• The Short-Vol Trade Is Back: Why Some Investors Think It’s Driving Tranquility in Markets
• Hidden Hospital Fees Cost Patients Hundreds of Dollars
• In a Bumper Year for CEO Pay, One Chief’s $161 Million Award Swells to $1.3 Billion
• Biden’s Trustbuster Draws Unlikely Fans: ‘Khanservative’ Republicans

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics ranging from corporate tax accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team is reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

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