When you think of important corporate assets, often it is physical things like property, technology, etc. More and more, however, organizations are starting to recognize data as the valuable asset it most certainly is. This interesting news came to us from CFO Dive in their article, “2 powerful assets to help CFOs succeed: Data and machine learning.”

Use of data in new ways is crucial for most organizations as Chief Financial Officers (CFOs) navigate patterns in cash flow. There is help available. With all this attention being paid to the value of data, machine learning technology might provide insight into patterns and trends that the human eye and brain cannot compute, at least in the same time period.

Machine learning has had fruitful applications in finance well before the advent of mobile banking apps, proficient chatbots or search engines. Given the high volume, accurate historical records, and quantitative nature of the finance world, few industries are better suited for artificial intelligence (AI).

Melody K. Smith

Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.