Gartner Research

Impacts of Artificial Intelligence on Financial Management Applications

Published: 07 November 2017

ID: G00340709

Analyst(s): Nigel Rayner, Christopher Iervolino

Summary

AI will become a foundational and ultimately differentiating technology in financial management applications. However, it is at an early adoption stage, so application leaders need to ensure they focus on how and when AI will deliver business value, rather than be carried away by vendor hype.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • Vendors will offer both generic AI applications (such as virtual assistants) and embedded AI technologies, although adoption will be patchy and subject to hype
  • AI will offer opportunities to improve transaction processing efficiency and reduce period-end close time
  • AI will allow prediction of future financial results based on trends and market data, ultimately with the potential to recommend actions that optimize financial and business outcomes

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