Skip to main content
Home
The Online Resource for Modern FP&A Professionals
Please register to receive the latest FP&A news, updates and tips Login

Main menu

  • Home
  • FP&A Insights
    • FP&A Trends Digest
    • FP&A Trends Research
    • FP&A Trends Insight Paper
    • FP&A Trends Survey
    • Short Videos
    • Our Contributors
  • FP&A Events
    • International FP&A Board
    • FP&A Trends Webinars
    • Digital FP&A Circles
  • AI/ML Committee
    • Introduction
    • Members
    • Resources
    • Meetings
  • FP&A Tools
    • FP&A Trends Maturity Model
  • About Us
    • Company Policy
    • Privacy Policy
    • Editorial Guidelines
    • Our Ambassadors
    • Our Sponsors & Partners
    • Contact Us
image
AI & Machine Learning Impact on FP&A
September 19, 2017

By Chris Ortega, CEO at Fresh FP&A

FP&A Tags
Financial Planning and Analysis
AI/ML FP&A
FP&A Analytics

AIIn 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!

"The future of AI and machine learning as it relates to finance and accounting will revolutionize businesses and value of these teams." - Chris Ortega

Impact #1: Chase for 3 I's

The first impact AI & machine learning will have on FP&A is around the 3 I's which are introduction, implementation and integration. FP&A will be laggers in adopting these tools within our teams and businesses which means these factors will be vital to increasing our value proposition. Most organizations will do well in introduction and implementation, however few organizations will adopt the value and trans-formative aspects of AI highlighting a breakdown in integration. What do I mean by integration? Integration is where the tools, theory and application of AI & machine learning become entrenched in decision making and business processes. Additionally, AI & machine learning becomes part of the companies DNA and basis for business execution. So, the chase for 3 I's will impact FP&A by becoming part of the company culture.

Impact #2: Team Evolution

You're probably asking yourself, "Chris this is very general. Come on, man." However, what I mean by team evolution is improved the balancing of low & high-value activities within FP&A teams. AI & machine learning can eliminate focus on low-value activities such as data aggregation, data mining and turning data into information. I am not saying AI & machine learning will take your job but it will align your people/teams on high-value activities. Most companies are cash strapped or resource constrained but if AI & machine learning is integrated correctly. Then, FP&A teams will have more time to focus on high-value activities such as strategic planning, business partnership, and predictive analytics. Also, gone are the days where doing business the same way you have been for the past 20 or 30 years and expecting to remain relevant is business suicide. So, team evolution and activity balancing will be direct benefits of AI & machine learning.

Impact #3: DATA X

What do I mean by Data X? The best way to describe it is through an example. When I was in my hotel room in Las Vegas during the conference, I wanted to watch a movie. I found what I wanted to watch in minutes. AI & machine learning will bring the same self-serve and on demand data to FP&A teams. Think of Data X as Siri or Google Now which helps you get answers, directions, or facts quickly. AI & machine learning will bring the same elements to FP&A by asking, clarifying, or communicating financial or non-financial data in seconds. For example, asking Herman, what was total revenue for the past 6 months?" Or, what is our sales forecast for next quarter? Data X is the combination of tools, machine learning and providing quick reliable/actionable data instantly. Furthermore, companies such as Microsoft, Tableau, and IBM are already exploring and developing these features and the impact it will have on FP&A will be a game changer.

In conclusion, AI & machine learning is your friend, not your enemy and not going to take your job! However, organizations/teams pushing the limits and testing capacity/value of these tools will benefit tremendously. My 5 - 10-year outlook is tomorrow's FP&A teams/leaders will utilize AI & machine learning as another avenue to accelerate knowledge sharing and data decision making to drive business results. Let me know your thoughts, perspectives or insights on how you think AI & machine learning will impact FP&A by commenting below. Lastly, keep pushing & never settle! 

The full text is available for registered users. Please register to view the rest of the article.
  • Log In
  • or
  • Register
+

Subscribe to
FP&A Trends Digest

We will regularly update you on the latest trends and developments in FP&A. Take the opportunity to have articles written by finance thought leaders delivered directly to your inbox; watch compelling webinars; connect with like-minded professionals; and become a part of our global community.

Create new account

image

Event Calendar

Pagination

  • Previous
  • May 2025
  • Next
Su Mo Tu We Th Fr Sa
27
28
29
30
1
2
3
 
 
 
 
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Transforming FP&A Together: Human & AI Synergy
 
18
19
20
21
22
23
24
Moving from FP&A to Extended Planning and Analysis (xP&A)
 
Five Critical Roles for Building a World-Class FP&A Team
 
25
26
27
28
29
30
31
FP&A Business Partnering and AI: A New Era
 
All events for the year

Future Meetings

The Face-to-Face Amsterdam FP&A Board
The Face-to-Face Amsterdam FP&A Board Transforming FP&A Together: Human & AI Synergy

May 15, 2025

The Face-to-Face Milan FP&A Board
The Face-to-Face Milan FP&A Board Moving from FP&A to Extended Planning and Analysis (xP&A)

May 20, 2025

The Face-to-Face Frankfurt FP&A Board
The Face-to-Face Frankfurt FP&A Board Five Critical Roles for Building a World-Class FP&A Team

May 22, 2025

BPAI
The FP&A Trends Webinar FP&A Business Partnering and AI: A New Era

May 28, 2025

The Face-to-Face London FP&A Board: Data Management & Analytics: Unlocking FP&A Value
The Face-to-Face London FP&A Board Mastering Data in FP&A: Smarter Analytics, Better Decisions

June 5, 2025

FP&A Trends Webinar The Evolving Role of FP&A: From Number Cruncher to Strategic Advisor
The FP&A Trends Webinar Making FP&A Teams Fit for the Future

June 11, 2025

The Face-to-Face New York FP&A Board
The Face-to-Face New York FP&A Board From Insight to Impact: FP&A Business Partnering in Action

June 17, 2025

The Face-to-Face Sydney FP&A Board
The Face-to-Face Sydney FP&A Board Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments

June 26, 2025

The Face-to-Face Singapore FP&A Board: Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments
The Face-to-Face Singapore FP&A Board Modern Financial Planning and Analysis (FP&A): Latest Trends and Developments

July 8, 2025

AI/ML FP&A
AI/ML FP&A
Data and Analytics
Data & Analytics
FP&A Case Studies
FP&A Case Studies
FP&A Research
FP&A Research
General
General
Integrated FP&A
Integrated FP&A
People and Culture
People and Culture
Process
Process
Technology
Technology

Please register to receive the latest FP&A news, updates and tips.

info@fpa-trends.com​

              

Foot menu

  • FP&A Insights
  • FP&A Board
  • FP&A Videos

Footer countries

  • Amsterdam
  • Austin
  • Boston
  • Brisbane
  • Brussels
  • Chicago
  • Copenhagen
  • Dubai
  • Frankfurt
  • Geneva
  • Helsinki
  • Hong Kong
  • Houston
  • Kuala Lumpur
  • London Board
  • London (Circle)
  • Melbourne
  • Miami
  • Milan
  • Munich
  • New York
  • Paris
  • Perth
  • Riyadh
  • San Francisco
  • Seattle
  • Shanghai
  • Singapore
  • Stockholm
  • Sydney
  • Tokyo
  • Toronto
  • Washington D.C.
  • Zurich

Copyright © 2025 fpa-trends.com. All rights reserved.

0