In July 2017, I presented at the 2017 AICPA FP&A Conference in Las Vegas over AI (Artificial Intelligence) & machine Learning impact on FP&A. The session received great feedback from attendees and other speakers. So, I wanted to share an article summarizing the presentations main points. The goal of this article is to provide insights into the impact AI & machine learning will have on people, processes and technologies in FP&A. Hope you enjoy!

As a word fractal is not frequently used in conversation. As a concept fractal is frequently present in our lives. Its presence is evident in nature. The concept of a fractal was established in large part by the work of Benoit Mandelbrot, a mathematician whose work covered a wide and diverse number of disciplines.  Perhaps the most notable example of how he established the concept of a fractal was his study of England’s coastlines.

Companies large and small spend countless hours every month developing, amending and updating the spreadsheets that measure performance and drive strategic decision-making. So it’s critical the data contained and output generated by these spreadsheets is timely, simple and above all, accurate.  But is it?

A groundbreaking survey designed to benchmark current and emerging trends relative to how companies are leveraging technology and empowering FP&A professionals to unlock the strategic value of FP&A.

Organisations are finding it increasingly hard to plan or predict future performance due to the fast pace and complexity engendered by today's global, online business environment. And yet, within the vast quantities of data. available to management, there are tell-tale trends and correlations that reveal valuable insights to the direction they should take to maximise results.

The Physics of Wall Street by James Owen Weatherall is an interesting story about the influence of physics in finance.  FP&A practitioners can find material in this book to help them improve their work.  For me three areas of the book serve as meaningful reference material.