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Home Technology Artificial Intelligence

Transforming finance: AI’s role in smarter business decisions

Gartner by Gartner
September 26, 2023
Photo by cottonbro studio: https://www.pexels.com/photo/a-woman-in-a-tank-top-using-a-vr-headset-8721318/

Photo by cottonbro studio: https://www.pexels.com/photo/a-woman-in-a-tank-top-using-a-vr-headset-8721318/

Gartner dives deep into the role of artificial intelligence in making crucial business decisions.

Gartner Experts on AI in Finance: The Next Industrial Revolution?

Mark McDonald, senior director analyst of finance at Gartner, believes generative artificial intelligence is a good example of where things are going as it is used to get advice, to help formulate opinions, to do jobs, and to help get to answers quicker, but he emphasised that it doesn't do their jobs for them.

"The tricky part here is understanding the difference between human-like and human," McDonald said.

As to where things go in terms of artificial intelligence, McDonald conceded that it is impossible to predict at this point.

He clarifies that "getting rid of people" will not happen, but highlights that new technology will play a larger role as people who will know how to harness this advancement will be the ones that will persevere.

This is reiterated by Judy Romano, VP, CFO Executive Partner, saying that the biggest concern regarding artificial intelligence is that technology will replace people's work.

Judy Romano

"It's about how you get the employee to understand that we will upskill you. We will help you gain those skills for you to have a more meaningful work," said Romano, adding that AI will help them intelligently make decisions before they happen.

Alexander Bant, chief of research of finance, also added that industrial revolution is a game-changer for how they work. "Artificial intelligence will change the way that knowledge workers operate in our organisations."

Related:  M&A trend: Business leaders expect rebound into 2024
Tags: AIGartnergenerative AITechnology
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