Industry Insights

Global Study Oracle on Adoption of AI and Next Generation Finance Leaders

In his latest blog, Oracle’s Juergen Lindner, senior vice president of global SaaS marketing, highlights a joint research project with finance expert Farnoosh Torabi to survey more than 9,000 consumers and business leaders across 14 countries on AI adoption.

Remco Takken June 21, 2021
Oracle Money and Machine Report

In his latest blog, Oracle’s Juergen Lindner, Senior Vice President of global SaaS marketing, highlights a joint research project with finance expert Farnoosh Torabi to survey more than 9,000 consumers and business leaders across 14 countries on AI adoption.

Lindner writes: “As AI and robots become more commonplace in business processes, the skills and competencies needed for a successful career in finance will inevitably change.” Summarizing how future leaders of finance can position themselves for a successful career, he suggests to focus on new skills, invest in ongoing education, place emphasis on additional perspectives and embrace diversity. Concluding, Lindner states that organizations that don’t embrace AI in finance will miss out on the next generation of talent. “Millennial and Gen Z employees expect companies to leverage the same technologies they’re accustomed to using in their personal lives and will favor businesses taking advantage of AI in finance over those who don’t. In fact, Millennial employees are 4X more likely than Baby Boomers to want to work for a company using AI in finance. And 95 percent of Gen Z employees believe that organizations that don’t embrace technology will face risks, including falling behind competitors (51 percent), inadequate decision making (45 percent), and more stressed workers (41 percent).”

While this report is not focused on geospatial technology or relational databases, but on ‘Money & Machines’, it is still insightful to see how robots and AI are viewed upon by the younger generation and how organizations can prepare for the next generation of talent.

Oracle Blog: The adoption of AI will change next gen finance leaders
Oracle/ Farnoosh Torabi Report on AI financials/ Money and Machines