The use of artificial intelligence (AI) that harnesses machine learning (ML) will be the single most important trend in business software this decade. Over the next five years, software aimed at the Finance department will incorporate a steady stream of incremental innovations that will enable FP&A and operational groups improve their operations and empower them to support improved performance and agility in their organization through AI-enabled forecasts, plans and analysis.
FP&A groups that focus on utilizing AI capabilities immediately as they become available (while understanding its limitations) will be in a position to drive performance and enhance the competitive position of their entire organization. To do so, they will need to establish a solid foundation for utilizing AI by considering the tools and processes required unify and align the vast amounts of financial and operational data required to train and deploy AI-enabled solutions across Finance, Sales, Marketing, Supply Chain and HR groups.
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