Oracle’s research leaves no room for doubt: artificial intelligence helps accelerate the growth of corporate profits by 80%.
In fact, companies that adopt artificial intelligence and other emerging technologies in financial and operational management processes see their annual profits grow by.80% faster.
The figure emerges from a new research conducted by Enterprise Strategy Group and Oracle, Emerging Technologies: The competitive edge for finance and operations, which involved 700 top managers in finance and operations in 13 countries and found that technologies
Companies that adopt emerging technologies for finance applications are gaining far greater benefits than expected. Indeed, financial errors decreased by 37% on average, and 72% of companies using the AI have a better understanding of its overall business performance.
In addition, 83% of the managers asked for the AI will make the financial account closure processes fully automatic within the next five years. The availability of digital assistants improves productivity by up 36% and accelerates the time needed to carry out financial analyses by 38%.
The advantages for the supply chain are obvious: AI, IoT, blockchain and digital assistants are also helping to improve the accuracy, speed, depth of information available at the operating level and supply chain; respondents expect to be able to
For example, companies using the AI in the supply chain have seen reduced closing times of orders on average of 6.7 working days.
But not only that: errors are reduced in an important way, and at the same time the break-up of stocks is much less likely thanks to artificial intelligence, guaranteeing greater profits.
Important as well as the 87% of companies using the blockchain have obtained or exceeded their expectations of return on investment; the
Finally, most companies have adopted emerging technologies and so-called early adopters (which use three or more of these solutions) are gaining the greatest benefits and are most likely to exceed the performance of their competitors.