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Financial Planning and Analysis: Machine Learning and Artificial Intelligence Make a Difference

Publisher IDC
Published Apr 28, 2023
Length 8 Pages
SKU # IDC17897509

Description

Financial Planning and Analysis: Machine Learning and Artificial Intelligence Make a Difference


This IDC Perspective discusses the importance of FP&A and the current issues with ML and AI. It discusses ML and AI applications in FP&A and how they will change the skill in the profession. The data shows a slow implementation, and we share why. There are concerns when implementing ML and AI that need to be thought about and addressed."While we are seeing applications of ML and AI in FP&A software, it's going to be a slow adoption given it requires an understanding on how it works, it must be explained to others, and the skill sets needed to use and oversee it," says Heather Herbst, research director, Worldwide Office of the CFO at IDC.

Please Note: Extended description available upon request.

Table of Contents

8 Pages
Executive Snapshot
Situation Overview
What Is ML and AI Technology and How Can It Apply to FP&A?
Machine Learning
Artificial Intelligence
How Many FP&A Teams Are Using ML and/or AI?
Awareness Matters with ML and AI in FP&A
The Opportunities of ML and AI for Employees and Skill Set of FP&A Professionals
What Does It Take for an FP&A Team to Implement ML and AI?
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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