The Future of Finance: How Advanced AI and Machine Learning are Revolutionizing Decision-Making

Good morning! The future of finance is looking brighter than ever with the emergence of advanced AI and machine learning tools that are set to revolutionize decision-making processes. According to Joseph Fuller, a professor at Harvard Business School, these tools, known as “decision intelligence,” will surpass current scenario testing and forecasting methods.

Fuller explained at Fortune’s Emerging CFO virtual event that decision intelligence allows for enhanced predictions and the creation of multiple scenarios with various choices. This gives decision-makers the opportunity to assess the validity of assumptions driving previous decisions, ultimately reducing exposure to operating risks.

During the event, CFOs from companies like Cisco Systems, ServiceRocket, and Checkr discussed the impact of AI in the finance function. Scott Herren of Cisco highlighted the productivity benefits of AI, while Naeem Ishaq of Checkr discussed the use of applied AI in automating processes. Joy Mbanugo of ServiceRocket shared how AI is being used for financial planning and analysis projects.

As AI continues to evolve, Herren compared the current stage of AI development to the early days of the motion picture industry, emphasizing that we are just scratching the surface of its potential.

To learn more about the insights shared at the event, you can watch the complete session and read additional coverage on Fortune.com. Have a great weekend!

Sheryl Estrada
sheryl.estrada@fortune.com