Ironically, according to a study by the Information Technology Association of America (ITAA) entitled Race to the Horizon -- "U.S. leadership in high technology faces challenges domestically and abroad. This pressure comes from global competitors who share America�s appreciation for the economic, political and social benefits of high tech; and from domestic legislators who would subject parts of the IT industry to burdensome regulation or discriminatory taxation. Foreign nations are willing and able to do what it takes to race ahead of today�s market incumbents and our own lawmakers seem to always rationalize the need for further control � despite the negative impacts this control would have on the industry. Over the next four years the next Administration, the Congress and the states will play a critical role in determining whether the U.S. retains its lead or, through lack of clear vision and halting public policy resolve, allows itself to slip into also ran status."
Artificial intelligence (AI) has emerged as a transformational force, reshaping business processes and unlocking new possibilities for efficiency and innovation in corporate finance. The latest Gartner survey on AI usage in finance provides evidence of this emerging trend, offering valuable insights into the future growth trajectory of AI in finance. The Gartner survey reveals a significant milestone. As of 2024, 58 percent of finance functions actively use AI technology -- that's a substantial increase from previous years. Artificial Intelligence Market Development Perhaps even more telling is the projection that by 2026 more than 80 percent of finance functions are expected to be leveraging AI solutions. The survey sheds light on the use cases of AI in finance: AI is being deployed to enhance forecasting accuracy and provide deeper insights into financial trends. Automation of routine tasks and improved accuracy in financial reporting are key benefits observed. AI algorithms are