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Oracle OpenWorld London—February 12, 2020
Organizations that are adopting Artificial Intelligence (AI) and other emerging technologies in finance and operations are growing their annual profits 80 percent faster, according to a new study from Enterprise Strategy Group and Oracle. The global study, Emerging Technologies: The competitive edge for finance and operations, surveyed 700 finance and operations leaders across 13 countries and found that emerging technologies – AI, Internet of Things (IoT), blockchain, digital assistants – have passed the adoption tipping point, exceed expectations, and create significant competitive advantage for organizations.
Organizations embracing emerging technologies in finance are experiencing benefits far greater than anticipated:
AI, IoT, blockchain and digital assistants are helping organizations improve accuracy, speed and insight in operations and the supply chain, and respondents expect additional business value as blockchain applications become mainstream.
The vast majority of organizations have now adopted emerging technologies and early adopters (those using three or more solutions) are seeing the greatest benefit and are more likely to outperform competitors.
Research findings are based on a global survey of 700 finance and operations managers and executives conducted by Enterprise Strategy Group between September 19 to October 16, 2020. The study was administered online and fielded in 13 countries. All respondents were managers and executives in the finance or operations functional units of their organizations, and were required to be frequent users of ERP, EPM or SCM applications. Additionally, only respondents working at organizations with 1,000 or more employees or with annual revenues of $100M of more were considered qualified. The survey was complemented by 10 in-depth interviews with finance and operations leaders from various industries. All respondents were provided an incentive to complete the survey in the form of cash awards and/or cash equivalents.
Enterprise Strategy Group is a technology analyst, research, validation, and strategy firm that provides market intelligence and actionable insight to the global technology community. www.esg-global.com.
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