GartnerFinance identifies 5 top use cases for AI in corporate finance. Read the press release here: CFO Gartner_inc
because the applicability may vary across organizations and industries,” said McDonald. “These use cases are commonly implemented and effective, but the most valuable use cases exploit a company's unique strengths and allow it to further differentiate itself.”Demand / Revenue Forecasting
: Using both internal and external sources of data, models predict demand and associated revenue across a variety of dimensions including business unit, product line, SKU, customer type and region.Anomaly detection uses a series of machine learning models to highlight transactions or balances that are in error or potentially violate accounting principles or policies.
"Forecasting is a popular use case in finance departments because legacy processes are manually intensive and notoriously unreliable. AI excels at automation and improving accuracy.” said McDonald. "Many pre-configured software packages address common finance processes such as accounts receivable and accounts payable but be aware that use cases which address unique business needs, such as forecasting, will require some internal skills to build.
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