Many of us have personal digital assistants in our homes that can play our favourite song or order groceries with a voice command. And as much as robust technologies make our personal lives run a bit more smoothly, there is similar potential for Artificial Intelligence (AI), Natural Language queries, and Machine Learning to transform the Office of Finance.
Organisations are making strides in understanding data around market trends, customer sentiment, and engagement, but they aren’t making the connection back to the bottom line. The next steps involve automated Machine Learning and data management to make the process more seamless and robust.
A majority (62%) of Finance Executives report that they will make significant investments in AI over the next three years, according to PwC’s Digital IQ research. Gains from Robotics Process Automation (RPA) and basic AI will provide the building blocks for finance to later achieve more dramatic gains with advanced AI, setting the stage to go beyond using AI and related technologies for only routine transactions.
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