3 Ways Machine Learning Will Transform Finance

At home, it helps power personalized shopping apps, suggests personalized entertainment experiences, manages and monitors self-driving cars, supports virtual assistants, and improves navigation. At the office, it helps businesses develop the next best offer, recruit top-notch candidates, detect fraud, automate supply chains, and boost data center efficiency. Yet, corporate finance leaders are asking deeper questions which require more advanced analytics systems. "Why can you ask your mobile phone for directions to find the nearest restaurant but you can't ask your system how revenues are trending in Italy?" Oracle Vice President of Product Strategy for Big Data Analytics, Rich Clayton said during a recent Financial Executives International (FEI) webcast. "Why is that your systems don't understand your processes? Why do you spend so much time explaining simple variances when much can be automated?"