8December 2021Few trends have received more attention among business leaders in the past decade than innovation. With buzz words like AI and machine learning so often thrown around, it can be hard to tell where advances in new technology and data meet realistic use cases and the resultant impact. Although the promise of a tech-induced business revolution can seem unrealistic, we are beginning to see real progress in the application of technology and the ability to harness new data sets. Increasingly finance and accounting functions will be able to take advantage of new, data-driven opportunities to get an edge. To do this, CFOs will need strategies for data, cloud computing and talent. AI is the broader encompassing category of using computer science to receive inputs and make decisions. Machine Learning is a sub-set of AI that allows the computer to learn from a distinct set of data inputs without explicit programming. Both are being used to develop more sophisticated financial models, including predictive models that enable businesses to better understand market and company signals and even probabilities of potential outcomes. As a result, "data is the new oil;"businesses not leveraging vast amounts of structured, semi-structured and unstructured content will find themselves running out of fuel to make critical business decisions or advise By Lena Mass-Cresnik, Chief Data Officer, Moelis & CompanyOPINIONIN MYIMPACT OF EMERGING TECHNOLOGIES IN FINANCIAL SERVICESLena Mass-Cresnik
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