Recently published study from Oracle and Enterprise Strategy Group, Emerging Technologies: The Competitive Edge for Finance and Operations, highlights how the business which use technologies such as AI, machine learning or digital assistants are able to create key advantages among their competitors – increasing profits and productivity, cutting costs, speeding up the business processes, reducing mistakes, errors and frauds.
Here are the key findings regarding AI, machine learning and digital assistants:
- 72 percent of organisations using AI have a better understanding of overall business performance
- 83 percent of executives believe AI will completely automate financial close processes within the next five years
- Digital assistants increase productivity by 36 percent and accelerate financial analysis by 38 percent
- Organisations using AI in their supply chains have seen order fulfilment reduction by an average of 6.7 business days
- AI is helping organisations reduce fulfilment errors by 25 percent, stock-outs by 30 percent, and manufacturing downtime by 26 percent
- Organisations using digital assistants in their supply chains have increased employee productivity by 28 percent and the speed of analysis by 26 percent
- Emerging technologies have become mainstream and 84 percent of organisations are using at least one of these technologies (AI, IoT, blockchain, digital assistants) in production
- 82 percent of organisations using three or more emerging technologies are ahead of competitors, compared to only 45 percent of organisations using none
- Organisations are 2-3 times more likely to purchase prebuilt emerging technology solutions than building them on their own (percentage varies depending on technology solution)
Creatity s.r.o. is ready to help you with implementing AI and machine learning in order to achieve the cutting-edge advantage over your competitors!
Find the study here: https://go.oracle.com/LP=88830?elqCampaignId=238833