The Future of Finance Teams: Machine Learning and Artificial Intelligence
In the wake of the Great Resignation, many companies are finding themselves in a bind when it comes to worker shortages. While talent scarcity and budget constraints remain top challenges, finding finance and accounting professionals with artificial intelligence (AI) and machine learning (ML) experience is a new challenge CFOs are facing. In this blog post, we will explore the challenges faced by finance leaders and what investments are needed to stay ahead of the curve.
One trend realized from the latest CFO Indicator survey is that CFOs plan to invest in financial planning tools that utilize artificial intelligence (AI) and machine learning (ML) to help improve the finance employee experience and attract future finance talent as they seek to mitigate the tight labor market.
Corporate Performance Management (CPM) solutions, like OneStream's Intelligent Platform, have advanced planning and automation technologies with AI and ML built in. Companies that are using them are reaping the benefits. This trend is likely to continue, as automating tedious, repetitive tasks free up finance professionals to focus on more strategic work and create data-driven strategies.
OneStream Sensible ML offers a guided experience to build, deploy and consume ML models which can help organizations finally take advantage of the promise of AI and ML for operational planning processes across the enterprise.
AI and ML technology can help Finance teams and business analysts improve their forecasting accuracy. Organizations that are able to adapt and take advantage of AI and ML are better able to position themselves for success in the ever-changing world of work.
What do you think about advancements in AI and ML? Has your finance team been affected by the Great Resignation? How are you adapting to the changing landscape?