畢馬威全球財務智能化調研報告-KPMG global AI in finance report Transforming into a new era with the AI-empowered finance function 2024

KPMGglobalAIinfinancereport

TransformingintoanewerawiththeAI-empoweredfinancefunction

KPMG.MaketheDifference.

KPMGInternational|

/AIinFinance

Contents

03Foreword

04Researchbackground

05AImaturityframework

07TransformingfinancethroughAI

10HowAIleadersdriveROI

15OvercomingbarrierstoAIusage

18Shiftsinfinancialreporting

21Conclusionandkeyrecommendations

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Forewo

rdResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Foreword

Artificialintelligence(AI)hasalreadybeguntotransformbusinessprocessesandcapabilities—andfinanceisinthevanguardofthischange.

InApril2024,KPMGInternational

conductedastudy

among1,800

companiesspreadacross10majoreconomiesandfoundthatalmostthree-quarterswerealreadyusingAItosomedegreeintheirfinancialreportingprocesses,withvirtually100percentexpectingtodoso

withinthenextthreeyears.

Ordinarily,onewouldwaitayearormorebeforeconducting

follow-upresearch—butAIisnoordinarytopic.Suchisthepaceofitsdevelopment—andthespeedofitsadoption—thatwe

decidedtocarryoutfurtherresearchinSeptember2024tosee

whathadchanged.Wesignificantlyexpandedtheresearchsample,wideningthenumberofcountriesandterritoriesfrom10major

marketsinNorthAmerica,Europe,andAsiato23developedandemergingmarketsacrossallworldregions.

Theresult?Sureenough,AIhasalreadymovedonsignificantlyinonly

halfayear.MorecompaniesarerollingoutAI,andnotonlywithintheirfinancialreportingprocessesbutacrosswiderareasoffinance,includingtreasurymanagement,riskmanagement,andtaxmanagement.Morecompaniesaremovingontothe“hotticket”ofgenerativeAI.

Andalthoughadoptioninemergingeconomiesisbehindthatofmajormarkets,thegapisnothuge.AIistrulyaglobalphenomenon,anditisbeingadoptedbyfinanceteamseverywhere.

Thereasonsaren’thardtouncover.EmbeddingofAIcanoffera

rangesignificantandtangiblebenefitsincludingfaster,moreefficientprocesses,moregranulardataanalysisandaccuracy,andbetter

predictivepower.Thissupportsfinancestafftogetmoredoneandfasterandspendmoretimeonvalue-addingtasks.

Asaresult,AIisyieldingsignificantROI.Amongthecohortofleadingadoptersweidentifiedinourresearch,57percentsaythatROIisnotjustmeetingexpectations,itisbeatingthem.Evenamongbusinesses

intheearlierstages,nearly30percentsaythesame.That’saremarkableachievement.

Whiletherearebarrierstoovercomeandriskstoavoid,theeffortisworthitbecausethebenefitsarereal–andbecausethebenefitswillaccelerateoverthecomingyears.As‘AIFinanceAgents’enterthe

organization,providingdiverseexperiencesandinsightsatthespeedoflight,collaboratingacrossgeographiesandsiloesatthespeed

oflight,wecanonlybegintoimaginethepowerofanAIenabled

Financefunction.CFOsandtheirteamsshouldbepreparingthewayrightnow.

Inallofthis,thereisakeypartforauditorstoplay.Theroleofthe

auditorisevolvingascompanieslooktothemforsupportaround

reviewsoftheirAIcontrols,governancematurityassessments,andattestationofthetechnologybeingused.Companiesalsoexpect

theirauditorstouseAIwithintheirownauditingprocesses,bringingthemasmarter,morereal-time,andinsight-ladenauditexperience.

WehopethisreportbringsyoufreshandilluminatinginsightsthatcanhelpyouinyourownAIjourney.Toprovidefurtherassistance,wehavedevelopeda

KPMGAImaturitybenchmarkingtool

tohelpyouassessyourprogressandidentifyfurtherkeyactionstotake.

Withoutdoubt,AIisagame-changer.AndKPMGprofessionalsareheretohelpyounavigatewhatisalreadyoneofthebiggestbusinesstransformationssincetheinternetitselfwasborn.

DavidRowlands

GlobalHeadofAIKPMGInternational

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Foreword

ReserchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Researchbackground

InApril2024,KPMGsurveyed

1,800companiesheadquartered

in10majormarketsacross

NorthAmerica,Europe,

andASPACabouttheirprogressinusingAIforfinancialreporting.

Tobetterunderstandglobaltrends,wealsowidenedthecountrycoveragefromtheoriginal10majormarketsto

23industrializedand

emergingeconomiesinNorthandLatinAmerica,Europe,Asia-Pacific,

theMiddleEast,and

Africa.

Giventhefastpaceof

technologicalchange,in

September2024weconductedasecondsurveyof

Theexpandedstudysurveyedawidergroupofexecutivesacrossfinanceatcompaniesinthesameindustriesandrevenuesizes

sampledinourApril2024study.Toconductthisbroaderanalysis,weincreasedthenumberof

respondentsfrom

1,800to2,900.

financialexecutivesontheiruseofAI.Toprovidedeeperinsights,weexpandedthescopeofourAIresearchbeyondfinancialreportingtoencompasstheentirefinancefunction,

includingaccounting,risk,taxoperations,and

treasurymanagement.

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Foreword

Researchbackground

AImaturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

TheAImaturityframework

ToassesshowAIisadvancingforfinancialreportingandacrossfinance,wecreatedanAImaturityframeworkbasedonthreesurveyquestions.

?Overthepastsixmonths,howmuchprogresshasyour

companymadeintheuseofAI,specificallyinfinancial

reporting?Howmuchprogressdoesyourcompanyplantomakeinthreeyears?

?Overthepastsixmonths,howmuchprogresshasyourcompanymadeintheuseofgenerativeAI,specificallyin

financialreporting?Howmuchprogressdoesyourcompanyplantomakeinthreeyears?

?HowmuchprogresshasyourorganizationmadeinleveragingAIacrossthefollowingfinancialareas?(Riskmanagement,treasurymanagement,accounting,financialplanning,andtaxoperations,reporting,andplanning).

Basedonresponsestothesequestions,respondentswere

groupedintothreecategories:18percentwerebeginnersinAI

usage,58percentwereimplementers,and24percentwereleaders.

Maturitybreakdown

LeadersImplementers

24%58%

18%

Beginners

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KPMG’sAIMaturity

AssessmentTool:Howdoesyourorganizationmeasureup?

Isyourorganizationaleader,

implementer,orbeginner?KPMGhas

developeda

benchmarkingtool

designedtohelporganizationsassesstheir

progressintheAItransformationjourney.Takeourquickassessmenttoseewhereyourorganizationstands.

Thiswillidentifystrengthsandweaknessesbasedonyouranswers—andhighlight

areasforprioritizedactionbasedonyourindustry.

5

Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Thematurityframeworkwasusedtolookatcompaniesmaturitiesbyrevenue,industryandregion.

41%

66%

59%

48%

25%

17%

Figure1:MaturitybyrevenueFigure2:MaturitybyindustryFigure3:Maturitybyregion

9%

24%

11%

Under$5B$5to$10BOver$10B

Financialservices

20%

52%

29%

Consumerandretail

18%

55%

27%

Industrialmanufacturing

15%

61%

24%

Technology,media,telecom

15%

62%

23%

Energy,naturalresources

18%

59%

23%

Healthcare,lifesciences

25%

59%

16%

27%

56%

17%

22%

60%

19%

20%

59%

22%

7%

65%

28%

37%

51%

12%

ASPACEuropeLATAMMEA

NorthAmerica

BeginnerImplementerLeader

Thestudysurveyedfinancialexecutivesandboardmembersat2900companiesacrosssixindustriesand23marketsinindustrializedandemergingeconomiesinNorthandLatinAmerica,Europe,Asia-Pacific,theMiddleEast,andAfrica.

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Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Transformingfinance

throughAI

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Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Incompaniesaroundtheworld,AI-empoweredfinanceteamsareemerging—adevelopmentthatisgeneratingarichrangeofbenefitstoorganizations.Theseincludeincreasedefficiencyandaccuracy,reducedhumanerror,fasterandbetterdata-baseddecision-making,lowercosts,andimprovedregulatorycompliance.

AIisagame-changerforfinance

OurresearchshowsthattheuseofAIisrapidlyexpandingacrossfinance:71percentofcompaniesareusingAIinfinance,41percentofthemtoamoderateorlargedegree.OrganizationsinNorth

America,ASPAC,andEuropearefurthestahead,whilethoseintheMiddleEast,Africa,andLatinAmerica,comprisingmostlyemergingmarkets,arethefurthestbehind.

Nonetheless,therearewidevariationsamongcompaniesin

industrializedandemergingmarkets.Forexample,whilecompaniesintheUS,Germany,andJapanarewellaheadinAIusage,other

majoreconomies,suchasItalyandSpain,arebehind.Thesamedichotomyisevidentinemergingmarkets,withChinaandIndiaaheadinAIusage,andSaudiArabiaandtheAfricancountrieswesurveyedfurtherbehind.

Riskmanagement

Treasurymanagement

Taxoperations,reporting

EmbracingAIinfinanceisnotjustaboutleveraging

advancedtechnology;it’saboutcultivatingafoundation

oftrust.Byprioritizingtransparencyandethical

practices,organizationscanharnessthepowerofAItoenhancedecision-making,optimizefinancialstrategies,andfosteracultureofaccountability,ultimatelydrivingsustainablegrowthandinnovation.99

SebastianSt?ckle

GlobalHeadofInnovationandAI,AuditKPMGInternational

AIusageisspreadingacrossallfinanceareas

CompaniesareturningtoAIineveryareaoffinance.Accordingtoourfindings,theaccountingandfinancialplanninggroupsarefurthest

aheadinusingAIbecauseofthepotentialbenefitsitbringstomanyoftheiractivities,fromimproveddataprocessingandfinancialreportingtoreal-timeinsightsandpredictiveanalysis.Currently,nearlytwo-thirdsofcompaniesarepilotingorusingAIforaccountingandfinancial

planning.

Otherareasoffinancearefollowingsuit:nearlyhalfofcompaniesarenowpilotingorusingAIfortreasuryandriskmanagement.Thiscangeneratebetterdebtmanagement,cash-flowforecasting,frauddetection,creditriskassessment,andscenarioanalysisinthetreasuryandriskmanagementfunctions.

Figure4:ProgressmadeintheuseofAIin?nanceareas

Financialplanning

10%23%30%28%9%

Accounting

10%26%28%23%14%

4%14%30%36%16%

3%22%24%38%13%

3%15%16%48%18%

SelectiveadoptionPilotingPlanningNoplans

Wideadoption

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Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Taxmanagementtrailsbehindotherfinanceareas

Lessthanone-thirdofcompaniesarenowpilotingorusingAIfortaxmanagement,withabouthalfstillintheplanningstage.ProgressinAIusagehasbeendelayedformanyreasons,includingcomplexityoftaxregulations,lackofup-to-datedata,onerouslegacysystems,andtherelianceonhumanjudgmentformanytax-relateddecisions.

TaxisnotanareawhereformsoftraditionalAIlikemachinelearninghavebeenutilizeduptonow.Asaresult,theyhavefallenalittlebehind—butthatischangingwiththearrivalofGenAI.WithGenAI,somuchmoreispossiblefromataxperspective.99

ChristianStender

GlobalHeadofAITax&LegalKPMGInternational

FinanceunlocksvaluefromAIinvestments

FinanceteamsareinvestinginamixofAItechnologies,from

chatbotsandnaturallanguageprocessingtoanomalydetection

andcomputervision.Buttheyfindthemostvalueinsophisticatedtechnologies,suchasmachinelearning,deeplearning,andGenAI.

Overall,mostcompaniesreportthattheROIonusingthese

technologiesismeetingorexceedingexpectations—anoutcome

thatislikelytopropelAIusageacrossindustriesinthefuture.“AftercarefulevaluationofAIperformance,theROIofdeployedprojects

washighlysatisfactory.Theplanistodeployitforeverydepartment,makingnecessaryadjustmentstoimproveresults,”saidanAudit

CommitteeDirectorataJapanesehardwarecompany.

ThefocusonAIinfinanceispartofabiggerAItrendhappeningacrossindustries.Companiessurveyedonaveragearespendingabout8.5percentoftheirITbudgetsonAItechnologiesandsolutions.Thepercentagewilljumpto13.5percentoverthenextthreeyears.

“ThelackofsufficientdatacanhinderAImodeldevelopmentandaccuracy,”

explainedtheCTOofaUKconsumerpackagedgoodscompanythathasbeen

strugglingtouseAIfortaxcompliance.TheCFOofalargeAustralianbanksaidthattheiruseofAIfortaxcompliancehadbeenhinderedbydifficultyin“theintegrationofAIintoourexistingfinancialsystem”.

Figure5:ROIonAIinvestmentsin?nance

47%

32%

14%

5%

1%

Wellaheadofexpectations

Somewhataheadofexpectations

Meeting

expectations

Somewhatbelowexpectations

Wellbelowexpectations

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Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

HowAIleadersdriveROI

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?2024CopyrightownedbyoneormoreoftheKPMGInternationalentities.KPMGInternationalentitiesprovidenoservicestoclients.Allrightsreserved.

Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

BasedonKPMG’smaturityframework,24percentofrespondentswereidentifiedasleaders.Leaderfirmstendtobeinthemid-implementationphaseacrossmostareasofAImaturity.However,thereareoneortwoareaswhereeachfirmismoreadvanced,inthecompletedphase.

LeadersembraceAIacrossfinance

MorethanthreetimesasmanyAIleadersasothersuseAIinfinance.Thiswidegapbetweenleadersand

othersispresentineveryfinancearea—inaccounting,forexample,88percentofleadershaveselectivelyorwidelyadoptedAIinaccountingvs.just19percentofothers.Eveninareaswhereleadershavenotmadeasmuchprogress—suchasriskmanagementandtaxreporting,wherejustoverhalfofleadersareselectivelyorwidelyusingAI—thegulfwithothersisstark.

InnovativeusesofAI

LeadersareusingAIinavarietyofinnovativeways.ACanadianbanksurveyedismergingAIwithblockchaintoensuresecureandtransparentfinancialtransactions.AFrenchlogisticscompanyisusingittocreateadaptivepricingalgorithmsthatoptimizepricesbasedoncurrentmarkettrends.AndamajorUSinsurancecompanyisdrawingonAIforperformanceevaluationandtrainingoffinancedepartmentemployees.

LeadersbetonGenAI

AIleadersalsoareembracingGenAI.Theyareusingitfordynamicreportandnarrativegeneration,forecasting

modelsandscenariogeneration,documentmanagement,compliancemonitoringandreporting,andautomatedtaxpreparation,amongotherapplications.

Forexample,theSVPoffinanceinanIrishmanufacturingcompanyisusingthetechnology“togeneratevariousfinancialscenariosandtheirpotentialimpactonourbusinesstoassistusinmakingstrategic

decisions.”

Morethan

threetimes

asmanyAIleadersuseAIinfinance,comparedtoothers.

AIisaversatiletoolforleaders

LeadersaremovingfasttodevelopdifferentusesforAIthatwillfreeupfinancialstafftofocuson

high-leveltasks.TheseusecasesshowtheartofthepossibleforothercompaniesexploringAIoptions.

Onaverage,leadershavesixusecasesforAI,almostdoublethenumberthatothershavedeveloped.

LeadersarewelloutfrontintheuseofGenAIforcomposingdocumentsandsummaries.LeadersarealsoaheadofothersinmoremundaneusesofAI,suchasforadministrativetasks,performanceevaluationandtraining,anddataentry—usecasesforabouthalformoreofleaders.

“WeareusingAIacrossourfinancefunction,andourteamhasbeenadoptingitwithease,”saidtheChiefAuditExecutiveofaFrenchconsumermarketscompany.

TheSVPofaccountingforaDutchaerospacespokeglowinglyaboutGenAI:“Ourcompanyhas

implementedGenAIaspartofacompany-wideinitiativetouseitfortaskssuchascontractanalytics,recruitmenttools,cyberthreatanalysis,andprocurement.Thisinitiativehasyieldedsatisfactoryresults,andweplantocontinueusingthistechnologytoachieveevenmoresignificantresults.”

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Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

Figure6:TopAIusecasespilotedorimplementedin?nance

LeaderOther

Researchanddataanalysis

85%

46%

Frauddetectionandprevention

81%

46%

Predictiveanalysisandplanning

78%

45%

GenerativeAIforcomposingdocuments,andothercontent

75%

33%

Riskmanagementandcybersecurity

62%

27%

Administrativetasks,suchasautomatingrepetitiveprocesses

52%

27%

Performanceevaluationand/ortraining

50%

28%

Customvirtualassistants

48%

25%

Dataentryanddocumentprocessing

43%

27%

Monitoringandcomplyingwithchangingregulationsandtaxlaws

39%

19%

Trackingexpensesandtaxdeductions33%21%

Averagenumberofusecases63.6

Figure7:Portionofcompany'soverallITbudgetspentonAI-relatedactivities

16.5%

12.5%

12.6%

7.4%

NowNextthreeyears

LeaderOther

LeaderslaythegroundworkforAIsuccess

BecomingaleaderinAIrequirestheproperfinancialandhumanresources.ThatiswhyAIleadersinvestnearlytwiceasmuchasothersinenterprise-wideAIactivitiesasaproportionofITbudgets.

Overthenextthreeyears,thatpercentageofAIspendoncompany-wideactivitieswillgrowtomorethan16percentoftheITbudgetforleaders.Asothersplaycatchup,thegapbetweenthemandleaderswillnarrow.

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Foreword

ResearchbackgroundAI

maturityframework

TransformingfinancethroughAI

HowAIleadersdriveROI

OvercomingbarrierstoAIusage

Shiftsinfinancialreporting

Conclusionandkeyrecommendations

BuildingAIskills

AIleadersensuretheyhavethetalentandskillstodriveAIinnovationinfinance.Todothis,theybuilduptheirowninternalAIresources—eitheracentralteamwithinfinanceorseparategroupswithin

eachdepartmentintheir