From Artificial Intelligence to Financial Intelligence: Leveraging AI to Strategically Transform Finance Teams
As some call it the fourth industrial revolution, Artificial Intelligence (AI) fascinates us, raises many questions, excites us, even scares us a little. (I’m still not sure I want to be on the same roads as self-driving cars!) But there is no denying that AI makes our daily lives so much easier than it was a few years ago, and much more than imagined.
When we talk about AI, we immediately think about what we use every day, such as virtual assistants or chatbots (i.e., Siri or Cortana), smartphones that identify us through fingerprint or facial recognition, cars that are able to detect pedestrians and to park themselves (often better than humans do). We also think about computers that recognize and analyze documents automatically.
AI is also widely present in the business environment. There is evidence of this in:
- HR departments that more efficiently optimize a selection process.
- Quality assurance departments anticipating and even preventing problems before they may occur.
- Marketers who predict customers’ needs and optimize interactions between brands and consumers.
And AI has made its way into finance departments. As a finance leader or accounting professional, you may ask,
How do these technologies impact finance functions and workflows?
Written by Laurent Charpentier, Sage Intacct
April 30, 2018