Automation works best when it's accompanied by an organizational structure that doesn't stand in the way of quick changes in focus, the research firm says. CFOs need to adopt hyperautomation and an intelligent composable business style to avoid having fragmented and ill-considered technology approaches that curtail the potential benefits of digitalization, says Gartner. The research and advisory firm called the two approaches the areas of tech CFOs should be focusing on the most. They "reflect the need for finance leaders to quickly and efficiently adjust to rapidly changing business conditions," said Alejandra Lozada, senior director of research in the Gartner finance practice. Hyperautomation refers to the automating of manual and onerous processes to help leaders adjust quickly to changing business conditions.

Depending on who you ask, artificial intelligence (AI) and machine learning (ML) are at different stages of maturity in the finance industry, but there is widespread agreement that the technologies are trending upward. This ebook, based on the latest ZDNet / TechRepublic special feature, advises CXOs on how to approach AI and ML initiatives, figure out where the data science team fits in, and what algorithms to buy versus build. On a global scale, AI is expected to become a major business driver across the financial services industry, according to the World Economic Forum (WEF). Seventy-seven percent of finance executives anticipate AI "to possess high or very high overall importance to their businesses within two years," according to the findings of a WEF survey released in January. Specifically, AI will be incorporated into generating new revenue potentially through new products and processes; process automation; risk management; customer service; and client acquisition within the next two years, according to 64% of the WEF survey respondents. The survey included responses from 151 financial institutions in more than 30 countries.