Many commentators suggest that the finance function will be fully automated by the end of the decade, fuelled by AI & Machine learning technologies. Indeed, ChatGPT is already being built into forecasting applications. But realistically, for many organisations the rate of advancement will be far more sedate.
Nevertheless, FSN’s research records a fair amount of enthusiasm amongst CFOs for AI and ML. Half of all organisations are looking to explore AI & ML within the next 2 years and 72% of CFOs have the objective of leveraging these advanced technologies to improve process efficiency and throughput by the end of the decade. The problem is that this aspiration is not matched by present day skills, training and a data-driven culture.
So the obvious question is how can CFOs bring all of these disparate strands together to prepare for a more automated future?
To help us understand and debate these issues, Gary Simon, Chief Executive of FSN and leader of the Modern Finance Forum on LinkedIn will interview Adrian Wilkinson, a computer industry veteran and product strategist with Prophix, a leading provider of corporate performance management software. Together, they will discuss FSN’s latest research and the capabilities that CFOs can reasonably expect of these technologies, the current state of the market and how finance functions might plan for the future.