Is Finance Efficiency a Zero-Sum Game?

Sometimes, when you fix something, you end up breaking something else. So, what will be the consequences of finance’s unrelenting quest to optimize its processes through redesign and automation?

Will finance’s growing propensity for embracing robotics, AI and machine learning damage effectiveness; more importantly, will it eradicate a big portion of finance jobs?

This is the theme my colleague Sherri Liao and I will explore at this morning’s finance breakout session at The Hackett’s Group Best Practices Conference.

Here’s a sneak peek:

Yes, smart automation will dramatically affect the number of finance FTEs. Sherri and I will unveil the quantitative results of our latest analysis about the future size of the finance workforce.

But also no, because smart automation will greatly expand the amount work finance must execute while fundamentally changing its very nature. So, while some jobs will disappear, others will be created. This is a call for action for finance professionals to master new skills — from data savviness to communications — in order to thrive in the digital economy.

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