The Global Artificial Intelligence / Machine Learning FP&A Committee was created in March 2018 with the aim to see how the latest developments in those technologies can influence modern Financial Planning and Analytics.
At the third Committee meeting, Takeshi Murakami, Group Controller at Microsoft, shared an interesting case study on leveraging AI/ML in the decision making process.
Microsoft Finance enhanced forecast accuracy by using ML instead of a traditional bottom-up process. With more data, which was also more complex than in previous years, Microsoft managed to improve the accuracy of forecasting by 0.2%.
If you would like to learn more, you can also read the article written by Takeshi Murakami.