Research from Taulia, a prominent provider of working capital management solutions within the SAP Group, showcases a remarkable transformation. AI-generated data has emerged as the paramount tool in the decision-making processes of financial leaders. This indicates a significant departure from viewing AI as a peripheral element and its ascent to a foundational role in strategic decision-making.

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AI's Global Impact on Finance Functions

Over half (57%) of global financial leaders are currently leveraging AI-generated insights to guide key decisions. This usage surpasses that of internal (48%) and external (46%) data points alone, as well as their own judgment calls (35%) and inputs from colleagues (32%). The significance of AI is further emphasized as finance leaders anticipate its influence to grow within the next 12 months, with 85% expecting an increase. AI-generated data insights have rapidly become central globally, with 60% of leaders in teams using AI in some capacity and 92% believing they will do so within the next 12 months. The most common applications are in inventory and supply chain management (48%) and process automation and efficiency (46%).When asked about the specific areas where AI data has had the most influence on decision-making so far, nearly half (47%) of financial leaders pointed to improving process automation, closely followed by cash forecasting (45%). The larger the business, the more prominent AI becomes in the decision-making process. For instance, 62% of large businesses (over 1000 employees) use AI data for guidance compared to 39% of businesses with 249 - 500 employees.Global finance leaders largely recognize the positive impact of AI on their decision-making ability. A significant 90% agree that AI has had a positive influence, with over a third (36%) deeming it to have a massively significant positive impact. The value of AI insights is not overlooked, and as its importance grows, financial leaders are reshaping their team structures. Almost half (45%) of finance functions plan to hire dedicated AI experts in the near future.

The Role of AI in Taulia's Services

Cedric Bru, CEO of Taulia, emphasizes the shift in successful finance functions. "Our findings reveal a substantial change. AI is no longer an emerging technology but a core component of strategic decision-making. Generative AI simplifies access to insights and empowers finance leaders. We are dedicated to supporting them by providing AI-powered analytics to formulate effective working capital management strategies. Financial leaders trust AI-generated data and utilize it for critical business decisions, valuing it above all other inputs."It is evident that the role of AI within the finance function is set to expand. Those who can understand and utilize it effectively will gain a substantial competitive advantage. Successful financial leaders are actively exploring a range of AI-powered solutions and partners to stay ahead of the innovation curve.