Business leaders make decisions daily that directly affect productivity, profitability and compliance but sifting through the avalanche of available data requires an army of data scientists and proprietary tools. The time lag of report generation, revision, and in many cases training on use, can mean the difference between a timely decision and one that negatively impacts the enterprise.
Leveraging AI innovation to build a real-time financial center of intelligence will eliminate the lag time of turning data into knowledge.
Ultimately a real-time financial center of intelligence is an idealized dashboard that can contextualize and understand the hundreds of data points from within as well as outside the enterprise to analyze and model all aspects of financial and operations performance in a single view.
Done correctly, this allows each executive to interrogate and interpret the information based on their unique requirements without the need for specialized resources like data analysts and data scientist or specialized tools like complex business intelligence tools that require proprietary programing to generate reports of consequence.
Image your enterprise where specialized data analytics resources can be applied to uncovering and developing new innovations instead of generating reports for every business leader’s unique requirements. Then image your enterprise where every business leader can self-serve their information requirements in real-time to optimize their decision processes while ensuring corporate security, privacy, policy and regulatory compliance.
Now you are realizing the prime catalyst for business-led and financially focused AI transformation projects. In order to get to a get to this level of self service and turning raw information into actionable insights you will need to uplevel legacy dashboards with new innovations in Generative AI (GenAI), Machine Learning and Reinforcement Learning.
While there is an insane amount of hype that outpaces adoption surrounding the use of GenAI in standard business practices, there are key areas where pilot projects can establish a baseline of measurable value. One such project that has clear parameters is the development of a financial center of intelligence.
The value of applying GenAI to a financial center of intelligence can empower business leaders to make better decisions without the need for specialized tools and resources with the following direct benefits:
Bottomline: when CXOs get actionable insights in real-time while maintaining security and privacy and freeing data analysts to innovate instead of generating reports, your organization will realize significant value in directly measurable operations improvements.
While many organizations have relied on solutions from the likes of SAS Institute for the last 45+ years, they are now realizing that investments in proprietary platforms can (over the long haul) generate unsustainable requirements in costs for dedicated resources and ongoing maintenance. They are also realizing that what was once innovative may not be keeping pace with the current rate of technical innovation, so evaluating new opensource solutions is becoming a viable alternative.
By not relying on proprietary programming requirements, your organization can have a GenAI-powered financial center of intelligence be up and delivering value in days not weeks or months. Companies like UBIX deliver on the promise of an innovative, secure, and flexible patented no-code GenAI platform to provide CXO visibility to a true financial center of intelligence with a SaaS platform that contextualizes and presents data from inside and outside the enterprise ensuring business-led AI innovation transformation.
Learning how GenAI and emerging advancements like Reinforcement Learning can deliver on the promise of a financial center of intelligence has never been easier. Download our free eBook titled “5 Steps to AI Business Transformation Success” to help better understand the nuances of emerging AI concepts and technologies and offer a set of best practices for consideration to ensure digital transformation and business-led AI success. Or if you can spare 22 minutes for a mini–AI Readiness Workshop, you can contact one of our AI experts today.