AI in Finance: Where It's Being Used and Is It Delivering Value?

This IDC Perspective discusses AI in finance. AI is revolutionizing corporate finance by enhancing decision-making, risk management, and operational efficiency through technologies like machine learning and RPA. Despite significant benefits such as improved forecasting and automation, challenges like data privacy, model accuracy, and integration with existing systems persist. IDC's 2024 CFO survey indicates widespread AI adoption, with positive impacts noted by 81% of respondents. However, the transition requires careful oversight, continuous upskilling, and realistic expectations regarding workforce reduction and immediate returns."AI is revolutionizing corporate finance, but are we truly ready for the ethical and operational challenges it brings? "There is an investment but also a follow-through that is required to see the value." - Heather Herbst, research director, Worldwide CFO Tech Agenda at IDC