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Artificial Intelligence: Adoption of Financial AI Expected Over Next Two Years
Many Financial businesses are excited by the possibilities of many emerging technologies, but most have been slow to adopt them. According to a report by Gartner, one quarter of organizations expect to deploy AI, machine learning, and predictive acnalytics technologies by 2020.
Christopher Iervolino, senior director analyst at Gartner, said that “we’ve conducted an extensive global analysis of social media conversations around the term ‘financial planning and analysis’ (FP&A) … The results show that the number of conversations including this phrase has been growing rapidly… The lack of working AI deployments is no big surprise, because the technology is not yet built into most FP&A application suites. There is tremendous potential for transformational improvement, but these capabilities are only just becoming mainstream so the deployment expectations we see in the survey may be unrealistic for many.”
Stephanie Miller, Chief Executive Officer of Intertrust, said that “the findings from this study suggest that while the industry is positive towards new technology such as AI, blockchain and robotics, only a minority of firms are currently putting it to use and the speed of travel remains cautious.”
