Finding a Place For Artificial Intelligence in FP&A

The term “artificial intelligence (AI)” is used so frequently in this day and age that it is often misconstrued because it is leveraged enterprise-wide by different departments for different things. For FP&A, AI is the automation of actions based on analysis of available data in order to mimic the way a person would make a decision. Human’s make decisions based on their data, but their decisions are always influenced by human nature (bias, experience, etc.). The whole purpose of AI is not to replace humans, but to be used as another tool that can help management teams clarify their thinking and make better-informed decisions.

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