AI can enhance tactical budgeting tasks, leading to faster data-driven decision-making; however, strategic planning requires human insight for long-term success and adaptability.
CFO Amy Weaver of Salesforce uses predictive AI as a strategic asset, while Kyle Epley at Caterpillar substantially reduced forecasting time using machine learning.
Dev Ahuja, CFO of Novelis, employs in-house machine learning for cash-flow forecasting, showing the growing reliance on AI for financial processes across companies.
Gartner predicts that by 2028, 50% of organizations will adopt AI to replace traditional, time-consuming budgeting methods, emphasizing the shift towards efficiency.
#ai-in-budgeting #corporate-finance #data-driven-decision-making #strategic-planning #financial-forecasting
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