Ventana Research Analyst Perspectives

Welcome to the Age of Robotic Finance

Posted by Robert Kugel on Dec 29, 2017 5:24:36 AM

For several years, I’ve commented on a range of emerging technologies that will have a profound impact on white-collar work in the coming decade. I’ve now coined the term “Robotic finance” to describe this emerging focus, which includes four key areas of technology: Artificial intelligence (AI) and machine learning (ML), robotic process automation (RPA), bots utilizing natural language processing, and blockchain distributed ledger technology (DLT), each of which I describe below. Robotic finance will have a disproportionate impact on finance and accounting departments: I estimate that adoption of these technologies potentially will eliminate one-third of the accounting department’s workload within a decade.

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Topics: CFO, ERP, RPA, AI, Machine Learning, Robotic Process Automation, Consolidation, Accounting, close, blockchain, bots, natural language processing, voice automation, Continuous Accounting, Reconciliation