Earlier this year, Incorta hosted a one day event, NoLimits in Riyadh, which provided a platform for profound discussions on the transformative role of Artificial Intelligence (AI) in finance and beyond. The event featured a compelling presentation by Brian Kalish, a distinguished expert in financial planning and analysis (FP&A). Kalish’s talk centered on the pivotal role of AI in enhancing efficiency and innovation within organizations, particularly in the realm of finance.
Kalish began by emphasizing the significant impact of AI on workforce productivity. “AI lets people focus on high-value activities,” he noted, highlighting how automating lower-cognitive and repetitive tasks can reduce burnout and enhance the employee experience. This approach allows finance and accounting professionals to devote more time to creative and strategic tasks, ultimately raising the financial IQ across their organizations and fostering stronger business relationships.
Kalish shared his global perspective on AI’s role in finance, rooted in his extensive experience spanning corporate finance, academia, and consulting. Engaging with professionals worldwide, he confirmed the shared view of the critical importance of continuous learning and adapting to the rapidly evolving landscape of data analytics and technology.
A key point of Kalish’s presentation was the explosive growth of AI in the Middle East, particularly in Saudi Arabia and the UAE. He highlighted the dynamic changes and opportunities emerging in the region, reflecting on his frequent visits and engagements with key stakeholders. “The world has come back,” he remarked, emphasizing the resurgence of global connectivity and the increasing demand for advanced data solutions.
Kalish’s relationship with Incorta and its strategic partners was a central theme in his discussion. He commended Incorta’s role in revolutionizing analytics and how it is the linchpin for organizations to align their data strategy and management with the achievement of business objectives. . With Incorta at the center of the hub of an organization’s analytics, Brian introduced the concept of the Data Analytics Strategy Operating Model (DASM), stressing the need to integrate data analytics with core business functions to drive meaningful outcomes.
He also highlighted the critical priorities of Chief Financial Officers (CFOs) and FP&A professionals in today’s volatile, uncertain, complex, and ambiguous (VUCA) world. Developing and refining data analytics strategies, alongside setting technology roadmaps, are essential for staying competitive and agile. Kalish emphasized the need for finance professionals to embrace technology and data analytics, moving beyond traditional methods to leverage modern tools and methodologies.
Additionally, Kalish specifically delved into the transformative potential of AI, particularly in the context of FP&A. He presented compelling statistics demonstrating the growing adoption of AI in various business applications, from content generation to advanced forecasting. Kalish described AI as a pivotal force in the current industrial revolution, likening its impact to that of previous technological shifts such as the agricultural and industrial revolutions.
A significant takeaway from Kalish’s talk was the importance of integrating AI into business strategies to drive innovation and efficiency. He provided real-world examples of how AI is being used to enhance productivity and streamline operations generating significant quantifiable results, urging professionals to view AI as a powerful tool that complements human expertise.
Kalish concluded his presentation with a forward-looking perspective, emphasizing that AI will not replace people, but rather those who leverage AI will surpass those who do not. He encouraged attendees to embrace the opportunities presented by AI and data analytics to remain competitive and innovative in an increasingly digital world.
For those interested in gaining deeper insights from Kalish’s talk, the recording of the event is available for viewing. Don’t miss out on this valuable advice to stay ahead in the data-driven landscape!