Finance Departments Remain Hesitant on Digitalisation and AI
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Many finance departments in companies still have ground to make up when it comes to digitalisation and the use of artificial intelligence (AI). This is shown by a current study from the consulting firm Deloitte. The results make clear that work in this area is changing quickly.
The study describes how automation is changing financial processes in companies. Routine tasks can increasingly be taken over by software. As a result, processes are meant to become faster and more efficient, and employees have more time for demanding tasks.
Generative AI in particular offers new possibilities, according to the study. This form of AI can, for example, create texts or analyse data. Nevertheless, it has so far rarely been used comprehensively. Many companies are testing the technology, but have not yet deployed it in all areas of the finance department.
The topic is also relevant for companies in Austria, as many businesses want to modernise their internal processes. The study shows that the path to full digitalisation of finance departments may take longer. Whether and how quickly the use of AI spreads in the coming years remains to be seen.
Sources: Deloitte
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