Leveraging AI isn’t just about investing the most time or money.
Artificial intelligence (AI) is growing in importance for finance, yet CFOs are still learning when and how to successfully deploy it.
Investing in AI and other digital initiatives can blunt the negative effects of economic pressures in the short term and build competitive advantage in the long term.
In finance, successful AI implementation requires the right leadership, talent, software investments and experimentation.
The use of AI is still an emerging priority for CFOs pushing the finance function further toward a digital future. Of those using AI, 75% report they started in just the past two years.
“The use of AI in finance departments is still nascent, and most early adopters rarely realize the anticipated returns from such projects,” says Alexander Bant, Chief of Research at Gartner. “Defining the use cases in finance is key — for digital initiatives in general and AI projects in particular. Ultimately, the goal is to drive your competitive position and prepare for an autonomous future, especially in today’s economy.”