Published: 09 January 2023
Leading finance organizations exhibit a common pattern of actions and decisions that result in significant returns on AI initiatives. The CFOs of these organizations take a series of low-risk, low-cost measures that avoid hurdles and enable faster results, positioning them ahead of competitors.
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Artificial intelligence’s (AI’s) human-like ability to make decisions clashes with a conservative finance culture that relies on personal reviews to assure data accuracy. Failing to account for AI’s unique characteristics lowers the chances of success.
Significant changes to processes are necessary to get significant benefits from AI, but these changes do not need to be hard, expensive or risky.
As AI solutions handle more complex and tedious tasks, the traditional patterns of work are replaced with a workflow that includes a partnership between people and machines.
To increase success of AI objectives and digital technology in finance, CFOs must:
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