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Automation and AI will shape the finance and HR industries 

    • AI technology has the potential to revolutionise the workplace, but there should be a strong foundation of trust in AI models and machine learning.
    • AI technology has the potential to revolutionise the workplace, but there should be a strong foundation of trust in AI models and machine learning. Pixabay
    Published Tue, Feb 28, 2023 · 06:00 AM

    GIVEN the uncertainties in the global economy, including supply chain demand issues and ongoing war for talent, it is now more crucial than ever for organisations to leverage innovative technologies to stay relevant and become more agile amid such headwinds. Against this backdrop, the role of artificial intelligence (AI) and machine learning (ML) in business is expected to evolve as chief information officers (CIOs) partner with lines of business on automation demand, including in HR and finance.

    Automate the core of finance 

    Automation presents an opportunity to reduce the burden on finance executives, particularly around the foundation of traditional but repetitive activities such as transaction processing, data mining, audits, and compliance.

    By enabling automation and AI as well as remodelling ML, the finance function is primed for change, becoming a strategic, value-adding function that plays a key role in the organisation’s decision-making processes and overall strategic growth. Chief financial officers (CFOs) will also have more opportunities to drive stronger finance synergy holistically across the organisation in alignment with the CIO and heads of technology.

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