AI Revolution: Unlocking FP&A Potential

Episode 31 of the The CFO Show podcast, hosted by Vena Solutions, titled "AI Revolution: Unlocking FP&A Potential" was published on May 21, 2024 and runs 41 minutes.

May 21, 2024 ·41m · The CFO Show

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Summary

The transformative potential of AI for finance teams is extraordinary. CFOs need to educate themselves on how, where and when to adopt new technologies, and what they can be doing ahead of adoption to prepare their organizations. Howard Dresner is a technologist, researcher, and one of the foremost thought leaders in business intelligence. In this episode, Howard discusses the research his firm, Dresner Advisory Services, has conducted on AI adoption, as well as his predictions for how next-generation AI technologies will be used in Financial Planning and Analysis (FP&A). Howard also explains how AI works and why the insights it generates are so much more sophisticated than what we can produce in a spreadsheet.Learn how innovation in AI is likely to impact FP&A, and how these developments will elevate the Office of Finance. Even if you don’t plan to be a first-mover, Howard’s insights can help your business get ready for the integration of these new technologies, long before you actually invest in them.Discussed in This Episode:How AI will empower finance professionals to navigate complex data landscapes with unprecedented precision and agility. Potential use cases for AI in FP&A, including forecasting and churn and risk assessment. The difference between AI and generative AI, as well as the strengths and limitations of each. When businesses should invest in AI, and how they should prepare for adoption ahead of those investments through education and policymaking. The history of business intelligence and Howard’s view on how it has evolved over the last few decades. For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.

Episode Description

Howard Dresner is a technologist, researcher, and one of the foremost thought leaders in business intelligence. In this episode, Howard discusses the research his firm, Dresner Advisory Services, has conducted on AI adoption, as well as his predictions for how next-generation AI technologies will be used in Financial Planning and Analysis (FP&A). Howard also explains how AI works and why the insights it generates are so much more sophisticated than what we can produce in a spreadsheet.

Learn how innovation in AI is likely to impact FP&A, and how these developments will elevate the Office of Finance. Even if you don’t plan to be a first-mover, Howard’s insights can help your business get ready for the integration of these new technologies, long before you actually invest in them.

Discussed in This Episode:

How AI will empower finance professionals to navigate complex data landscapes with unprecedented precision and agility.
Potential use cases for AI in FP&A, including forecasting and churn and risk assessment.
The difference between AI and generative AI, as well as the strengths and limitations of each.
When businesses should invest in AI, and how they should prepare for adoption ahead of those investments through education and policymaking.
The history of business intelligence and Howard’s view on how it has evolved over the last few decades.

For CFO insights, episode show notes, and exclusive blog content, visit thecfoshowpodcast.com.