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The role of the Chief Finance Officer is evolving as fast as the world is changing. A CFO with external predictive insights can better inform shareholders and board members and can assure them of bold strategic moves designed to benefit long-term profitability vs short-term gains. The “Predictive CFO” can evolve an enterprise to thrive amidst rapid advances in technology, economic volatility, and changing consumer behavior.
One of the most promising applications of artificial intelligence (AI) is to assist the CFO in determining the true drivers of business performance. By mimicking the methodology of economists, AI-based solutions can rapidly discover and monitor economic and consumer behavior leading indicators specific to their business or industry.
By combining AI and leading indicators, the Predictive CFO can radically transform the way their company makes strategic decisions in three areas discussed in this report:
- Predicting consumer demand and sales
- Knowing when to enter or exit a market
- Benchmarking growth against competitors