Purchase software with embedded AI capabilities to experiment with AI and apply it to finance use cases to quickly build pilots for unique business problems. 2: Invest in software with embedded AI for quick wins New AI-specific talent changes traditional processes and mindsets by bringing fresh ideas to support AI deployment. While upskilling finance staff may be less expensive, doing so runs the risk of slowing progress and introducing greater potential for error. This allows the organization to overcome inertia in working with AI applications and shortens the technical learning curve. Organizations that focus their talent strategies on hiring outside AI-skilled employees are significantly more likely to become leading AI finance organizations.ĪI-specific talent brings invaluable experience in working with the nuances of AI. There are three options for securing talent with AI skills and expertise: hire new talent, upskill current talent or borrow talent from the IT department. “This translates to more significant business outcomes such as new product lines, as well as finance department outcomes such as greater accuracy and shorter process times.” “Finance departments taking these four actions are finding twice the number of AI use cases, on average, compared to those who aren’t taking them,” says Bant. Gartner research shows that leading AI deployers share four common behaviors that enable them to quickly meet or exceed the expected impact of their AI projects and deliver critical finance and business outcomes. Ultimately, the goal is to drive your competitive position and prepare for an autonomous future, especially in today’s economy.”ĭownload now: AI and Other Digital Use Cases in Finance “Defining the use cases in finance is key - for digital initiatives in general and AI projects in particular. “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. Of those using AI, 75% report they started in just the past two years. The use of AI is still an emerging priority for CFOs pushing the finance function further toward a digital future.
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