Gartner Predicts Half of Finance AI Projects Will Be Delayed or Cancelled By 2024

Half of current finance artificial intelligence (AI) deployments will be either delayed or cancelled by 2024, while the use of business process outsourcing (BPO) for AI will rise from 6% to 40% within two years, according to Gartner, Inc. CFOs face major barriers to scaling up the use of AI in-house and will increasingly turn to business process outsourcing (BPO) solutions to meet their digital transformation objectives. Gartner experts provided CFOs with a breakdown view into some of the key predictions around the growing use of AI-driven technologies via the finance and accounting outsourcing market here today during the Gartner CFO & Finance Executive Conference. "While finance departments have made reasonable progress in laying the groundwork for AI, the challenges come when attempting to scale up solutions that can manage the complexities of function-wide use," said Sanjay Champaneri, senior director analyst in the Gartner Finance practice. "The upfront costs of building scalable infrastructure in house, and the overreliance on stretched citizen developers, will lead many CFOs to rethink their current strategies." Digital automation in finance often fails to meet the expected benefits outlined in business cases for deploying such technologies.