The Power of AI in Financial Planning and Forecasting

CFOs who leverage AI insights can “turbocharge” planning and forecasting.

At many companies, financial planning, budget creation, and forecasting processes can be sluggish, manual, and inflexible. Sometimes, creating an annual strategy can even take several months, which means planning does not reflect real-time data, making organizations less agile and adaptive. AI systems can “turbocharge” firms’ planning and forecasting processes, helping companies become faster and more responsive, while making predictions more accurate.

Organizations that leverage a process known as “dynamic steering” integrate powerful AI and machine-learning algorithms, driver-based calculation, and data automation to accomplish the following: run multiple potential scenarios simultaneously; improve the accuracy of financial predictions...