Planful’s Post

“Using #AI for better insights, enhanced growth, and increased competitiveness helps CFOs position their businesses for long-term success,” says Planful CEO Grant Halloran. Read Grant’s thoughts in #CFO Dive on how AI is #transformingFinance, and why it should already be at the heart of your organization's growth strategy: https://lnkd.in/egaW4Jag #AIFinance #AI #FP&A #financeteams #financialperformancemanagement #fpm #planful #insights

🌟 CFOs are harnessing the power of AI to make a positive impact in the workplace! From streamlining processes to making data-driven decisions, AI is transforming the role of the CFO. Discover how these innovations are shaping the future of finance. 💼🤖 Read more on our blog: https://lnkd.in/gpHStppY #AI #CFO #Finance #Innovation #PositiveImpact #BusinessTransformation #PositiveVision

May 31 2024 AI News! Billtrust's new report, "Generative AI & The Office of the CFO," surveyed 375 U.S. CFOs, revealing that 65% now integrate AI into their strategy, up from 42% last quarter. Despite a knowledge gap, with only 49% feeling "very knowledgeable," CFOs report 32% efficiency gains and improved financial reporting. Key challenges include data privacy and workforce training. 77% plan to increase AI investment next year. Generative AI is revolutionizing CFOs' strategic landscape, driving operational efficiency and decision-making intelligence. What do you think about this shift? Thanks for reading! MY THOUGHTS 🧐 Billtrust's report is telling. I hear people talk about about data security concerns all the time with AI, and there are solutions. I would love to see the general sentiment of issues we may encounter with AI move away from “we can’t” to “how can we.” Do you guys have thoughts about this? Have you seen any interesting adoptions or lack of adoptions of AI in your industry? ⬇️Click the link below to read the article⬇️ https://lnkd.in/gbH5m6xM

A recent study from PwC found that #productivity was five times higher in sectors where #AI penetration was the highest. At Visual Lease, we’re focused on enabling AI-driven insights and streamlined workflows to enhance operational efficiency and drive strategic outcomes. We have a similar viewpoint to what’s shared in this CFO Dive article –while #finance leaders can undoubtedly gain a lot from this #technology, it should be integrated into their processes in a strategic way: https://lnkd.in/e6u4xWGN.  

Generative AI continues to intrigue America's business leaders, yet adoption remains cautious. Chief Executive Research's latest insights reveal a mixed landscape: while interest in AI's potential has surged, CEOs and CFOs cite significant barriers to widespread adoption, including concerns about errors, biases, and regulatory challenges. Despite these hurdles, larger companies are notably more active in exploring AI applications compared to smaller firms. Read on to discover key findings and implications for your organization's AI strategy. What's been your organization's biggest hurdle in harnessing generative AI, and what steps are you taking to overcome it? Join the conversation by sharing your challenges and strategies in the comments below! #FutureOfAI, #CEOPerspectives, #TechInnovation

4 considerations for finance teams about gen AI. #Finance #Accounting #AI #GenerativeAI #FinanceTeams

According to a KPMG survey conducted in June 2023, 81% of senior executives from various industries anticipate that generative AI will have a positive impact on the workforce. CFO Dive outlines the opportunities generative AI grants the finance industry and how CFOs can start adopting the technology today.

4 considerations for finance teams about gen AI. #Finance #Accounting #AI #GenerativeAI #FinanceTeams

"Today, Finance teams are using AI to create value and save time across a multitude of use cases. AI can generate accurate forecasts in minutes, handling millions of lines of data across complex models. It can automate processes, significantly reducing the time needed for monthly close cycles, reporting, and ad hoc analyses, thus speeding up decision-making" Additionally, AI can quickly detect anomalies in large datasets, identifying outliers and highlighting questionable numbers for finance teams to review. 3 reasons why it is time to get on board with AI for growth 1) AI delivers more accurate insights through conversational experiences enabled by generative AI 2) AI enhances growth and competitiveness by using it across all departments of the business 3) AI is a requirement for medium to long-term success, and companies must use it as an offensive advantage. Companies are leveraging AI to improve customer experience, enhance sales effectiveness, accelerate product development, optimize marketing targeting, and more. The possibilities are endless. For the full article: https://lnkd.in/gcSPxera