Session Overview
Explore the impact of artificial intelligence (AI) on the digital transformation of the finance function. We will discuss the transition from digitalisation to true transformation, emphasising the shift from technology and process improvements to strategic innovation and value creation. What are the skills and competencies finance professionals need to develop? What are the challenges and rewards of this transformation, and the collaborative relationship between humans and machines in the AI-shaped finance function of the future?
Now, professionals need to understand the role of AI in transforming all the different departments in the company and the potential benefits it brings. They will learn how AI can go beyond automation to drive strategic innovation, identify new opportunities, predict market trends, and optimise risk management strategies. By staying informed about this topic, professionals can better prepare for the changing demands of the business world and redefine their roles, for instance as finance professionals, adding more value to their organisations.
Session Key Takeaways:
- The finance function is undergoing a profound transformation from digitalisation to true transformation. This involves shifting focus from technology and process improvements to strategic innovation and value creation.
- AI technology empowers finance professionals to develop new skills and competencies, such as data analytics, digital strategy, and innovation management. By embracing AI, finance professionals can redefine their roles, improve financial performance, and drive growth.
- The AI-shaped finance function of the future will be defined by collaboration between humans and machines. AI-powered tools can analyse large amounts of data, provide insights and recommendations, and enable fast decision-making. Finance professionals will be able to leverage AI for targeted recommendations, proactive planning, and to regain their roles as creative thinkers and problem solvers.