Published: 27 June 2024
Summary
Most finance organizations lack the skills and technological maturity to activate value from AI beyond in-app productivity gains. As AI hype turns to disillusionment, tech providers can unlock value and drive retention by including finance-specific upskilling programs with their product offering.
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Overview
Key Findings
By 2026, more than 80% of finance software providers will have embedded generative AI (GenAI) capabilities in their enterprise applications, up from less than 1% in 2023.
Only 26% of CFOs believe activation of AI features within existing finance tech applications is the most beneficial use of AI for their organization.
Finance professionals are more likely to struggle to realize value from AI than other enterprise functions because they have greater requirements for explainability and auditability.
Recommendations
Finance technology and service providers seeking to convert AI hype into long-term growth should:
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Analysts:
Garrett Astler,
Mark D. McDonald