Businesses that are using artificial intelligence (AI) and other emerging technologies in finance and operations have increased their annual profits by 80%. In the Global Research of Enterprise Strategy Group and Oracle, 700 finance and operations leaders were surveyed in 13 countries to determine the success and success of enterprises in finance and operations.
The survey found that emerging technologies like AI, Internet of Things (IoT), blockchain, digital assistants have performed better than expected and with businesses increasing profits 80% faster. They have also provided business competitiveness.
AI and digital stunts make financial matters accurate and performance improvement.
Companies that are using emerging technology in the finance sector are getting more benefits than expected, which has resulted in defects in finance companies on average 37%. 72% of businesses using AI have improved overall performance. 83% of executives believe that AI will fully automate the financial close process in the next five years.
Digital stunts increase productivity by 36% and financial analysis accelerates 38%. George Lindner, Senior Vice President of Oracle, SaaS Product Marketing, said that AI, IoT, blockchain and digital assistant technologies businesses Is rapidly innovating, making their technologies profitable by rivals. Research shows that these technologies have become a guarantee of success, and companies that are waiting are likely to face business risks.
We incorporate emerging technologies directly into the business process to help our customers succeed, grow and compete to ensure that they can use business-changing technology. Research and Research at Enterprise Strategy Group John McKnight, AVP of Analyst Services, said the study makes it clear that emerging technologies have gone through the test phase and are modernizing large-scale businesses.
These technologies, especially business matters such as finance and operations, are being increasingly modernized and in most of these cases the benefits exceed expectations. In addition, research shows that emerging technologies help to leverage each other’s benefits, further enhancing their business value. Similarly, the benefits of supply chain, delivery of goods, supply, decision making, time savings, cost reduction and productivity increase have been better than expected.