Industry impact: Exactly how is AI impacting finance?

AI and Machine Learning (ML) technologies minimize the need for human intervention by learning from every exception that has been handled manually. In practice, any exception only occurs once and from then on, the AI learns through ML how to deal with the exception on its own moving forward.

If applied in the right context, these technologies can impact the soundness of financial operations holistically – spanning from touchless processing, cash flow management, financial analysis, and more. With this, it contributes to the ultimate state of 100 percent touchless processing and spend visibility that all organizations strive to achieve.

Enterprises are seeing the benefit of automating repetitive processes in more and more finance and procurement contexts for increased efficiency, where a lot of transactional data is being processed. The AI and ML technology baked into certain automation solutions can even deliver supplier and spend analysis recommendations to your team without them having to expend any of their time. Answering accurately key questions like:

• Is your organisation too dependent on one supplier?
• Do you have too many suppliers for the same category, resulting in missed volume discounts and preferred customer status?
• Do you have suppliers in a geography that is politically unstable?
• Would you like to understand how your peers are adopting AI and how your approach compares?

In this live industry comparison in partnership with Basware, by answering nine quick questions on your approach to AI you’ll understand in real time maturity across the industry, and can receive a detailed insight report specifically for your organisation, to help you fully consider and prepare for what’s coming.

Take part here and receive the in-depth AI in Finance report, to help you understand the maturity of your market and sector and learn from experts to help prepare for what’s coming.

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