AI has been heralded — and put to use — as a groundbreaking new tool that companies can use in the budgeting process. But even companies that have embraced AI are still struggling with aspects of the budgeting process in today’s complex and rapidly changing business environment.
In recent years, artificial intelligence and machine learning have been deployed as game-changers for corporate budgeting, in the hopes that they will bring unprecedented accuracy and efficiency to financial forecasting and resource allocation. For example, Amy Weaver, the CFO of Salesforce, has consistently turned to predictive AI as a strategic assetfrom three weeks to just 30 minutes. Similarly, Dev Ahuja, the CFO of Novelis Inc.
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