AI can play a major role in the finance function’s transformation from consolidating and reporting financial metrics to serving as a key strategic business partner.
CFOs are increasingly exploring artificial intelligence (AI) technologies to yield greater business insights, enhance financial accuracy and predictability, and reduce labor-intensive processes in the finance function. But where can AI have the biggest impact? A multinational Deloitte survey of 2,737 IT and line-of-business executives identified the top two benefits they were seeking from AI technologies, shown in the accompanying figure. Based on these findings, CFOs seeking to de-risk and enhance the ROI on their AI investments may wish to focus on using AI to:
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Thanks to benefits like these, AI can play a major role in the finance function’s transformation from consolidating and reporting financial metrics to serving as a key strategic business partner.
To learn more about what CFOs should consider when building their AI strategy and how to get started, check out Why CFOs should have artificial intelligence on their minds.1
CFOs know finance transformation can be difficult and time-consuming. But they also know it’s an effective way to keep up with the changing needs of the business. Whether it’s technology disruption, business model innovation, or a new industry ecosystem, Deloitte helps finance organizations look ahead to what’s next while keeping the ship on a steady course.
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