, author William Gibson wrote, “We have no future because our present is too volatile. We have only risk management. The spinning of the given moment’s scenarios.” Gibson’s works have been credited with foretelling cyberspace and the Internet Age. His digital storytelling also is a parable for corporate finance’s 21st-century transformation.
Financial planning and analysis groups are especially ripe for emerging technologies, including but not limited to artificial intelligence , that can help them shift their gaze from historical performance metrics to massive data sets that yield forward-looking insights to strengthen forecasts, anticipated scenarios, projections and plans concerning products, supply chains, logistics capital allocation, and financial and operating performance.
Although leading CFOs embrace their role as stewards of data and advanced technologies, that doesn’t mean they are, or need to become, full-fledged data scientists. They remain as focused as ever on driving cost savings, risk reduction and predictable outcomes.