HARNESSING AI FOR OPTIM FINANCIAL PERFORMANCE
EUROPE
Ahmed Fessi , CIO at Medius , discusses the potential of AI in achieving peak financial performance .
Frankfurt skyline , Germany
CIOs must spearhead Digital Transformation efforts within their organisations .
One-third of European businesses have implemented Artificial Intelligence ( AI ) into their operations , recognising its potential to enhance productivity , efficiency and motivation .
However , despite AI advancements in data analytics , contract management and internal communications within business functions like HR and IT , 61 % of finance functions either have no plans for AI adoption at all or are still in an initial planning phase .
Finance operations remain underserved by automation and AI , despite their potential to mitigate risks such as fraud and poor cash flow management , and to streamline tasks like invoice processing and expense management .
Achieving peak operational efficiency for financial teams and safeguarding against fraud necessitates the integration of automation and AI into finance functions . CIOs must spearhead Digital Transformation efforts within their organisations , prioritising AI implementation in core financial functions to ensure these initiatives provide the right value for finance teams .
A harsh business climate
In the current business landscape , companies face a myriad of challenges ,
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