3 ways CFOs are leveraging data from advanced technologies paid KPMG
Data is exploding. There are more than 16 trillion gigabytes of stored data around the world, according togigabytesFuturistic graphical user interface concept.Armed with data and the tools available to process it, CFOs and finance executives can ultimately take on a more strategic and analytical role within their firms.While all this data can shed light on what’s working and what’s not in a business, it can also be quite overwhelming, especially if you don’t know where to start.
Identifying such anomalies and data outliers is seen as another leading benefit of advanced technologies by CFOs in the Forbes Insights survey. Still, AI is only as good as the people who design it. CFOs and other executives need to oversee AI to make sure it’s properly identifying trends and making recommendations in line with goals and policies.
“We’ll be able to ingest massive amounts of data, and we’ll be able to train a machine to be smarter at extracting key attributes we need to make more effective decisions in the audit, resulting in higher-quality audits,” says Bill Tomazin, Managing Partner, West Region and National Audit Solutions at KPMG US.
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