In a fascinating podcast conversation with futurist and author Mike Walsh, Oversight’s Manish Singh shares his perspective on how artificial intelligence (AI) technology will transform corporate finance.
AI-powered software solutions like Oversight Insight On Demand are going beyond simply automating processes and looking for problematic transactions, says Singh, EVP, Sales and Client Success.
"The beauty of all of this data we’re collecting is, for one, it’s analyzed data and provides the baseline for these alerts to help identify and mitigate risk,” Singh says. “Layered on top of that is the curated human judgment to action these findings.”
In other words, the true promise of AI lies in augmenting the work of corporate finance teams by providing them with the actionable data needed to improve business processes.
For example, AI-powered data benchmarking or analysis could result in an important procurement policy change or a targeted employee education effort around travel and expense policy compliance.
“You can drive, at every level, strategic and tactical decisions in a way that will lift the overall performance of the organization," Singh says.