Ledger Check: How Finance Teams Can Transform Using AI
Discover how AI is transforming financial reporting and the benefits it offers in terms of talent development and operational efficiency.
AI in financial reporting
The use of artificial intelligence has long had a sense of inevitability among large organizations. When that future would take hold, however, no one knew for sure. Now, as technologies and capabilities expand, finance leaders report a growing investment and expectation of AI in the coming year.
In other words, that inevitability has arrived. Only those that invest in the technologies effectively will benefit from their impact.
These are some of the findings from KPMG’s “AI in financial reporting and audit: Navigating the new era” survey, which asked 1,800 financial leaders a series of questions regarding companies’ use of AI, and planned investment in the years to come. More than 70% of companies currently use AI in reporting – but 100% expect to incorporate it soon.
How you invest and where you invest in AI matters to realize a benefit. Below are just a few ways in which organizations can approach generative AI moving forward to ease the transition:
- Ensuring the narrative is on point
- Data integrity
- Finding the right talent
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Learn about the ways in which organizations can approach GenAI moving forward.
Difficulty accessing trusted, recent and relevant data is very challenging for companies, and I think it would become increasingly challenging as more companies start to adopt GenAI.
Ed Moran
Managing Director, Aud Tech - Innovation, KPMG US
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AI in financial reporting and audit: Navigating the new era
US survey results - Financial reporting leaders' AI expectations for their companies and external auditors.
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The finance team is uniquely positioned to unlock generative AI’s enormous potential for the entire enterprise.
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