The GenAI Opportunity for Finance
Generative AI (GenAI) is rapidly evolving as one of today’s largest opportunities for cross-enterprise value creation. In fact, nearly half of finance leaders in corporate roles have already deployed or are piloting generative AI while 37 percent are in the research and planning phase.* Leading CFOs are GenAI enablers, championing innovation and ensuring their business is prepared as this new technology rapidly evolves and gains momentum. This includes: continually evaluating risks, establishing guardrails for GenAI usage, and ensuring the strategic initiatives that create the most profitable growth are rapidly receiving all necessary resources.
Forward-looking CFOs realize the huge opportunity GenAI has within their own Finance function, especially considering GenAI and Finance teams are both powered by huge amounts of data. Since GenAI is not plug-and-play, finance teams need to actively experience the technology to confirm best uses cases and identify opportunities. By integrating GenAI into the finance ecosystem, finance teams can then realize opportunities such as: efficiency gains by automating manual efforts in creating financial forecasts and other F&A reports, easily produced summarized reports available on demand, and greater visibility and accessibility to statistical insights across F&A leadership.
As you progress on your GenAI journey – from building a business case, to performing an assessment, to constructing a roadmap and finally, executing against it – our expertise, shared in the below thought leadership, will help you think about how to effectively leverage GenAI to drive enterprise-wide and finance function value.
* October 2023 KPMG Survey of corporate leaders in finance roles.
