Data science pioneer and author Dr. Perry Beaumont is the head of data science at Distinguished Programs in New York City. At the firm, Dr. Perry Beaumont oversees numerous risk mitigation initiatives and evaluates new opportunities. Dr. Beaumont's latest book, Digital Finance: Big Data, Start-Ups, and the Future of Financial Services, explains some of the impacts the digital transformation is having on the financial sector.
A report from the professional services giant Deloitte explains some of the things on the horizon for finance in light of the digital age. One of the predicted trends is fewer businesspeople becoming comfortable with basic finance and eschewing financial services. As automation becomes the norm, simple tasks that were once esoteric are being automated and self-service will become the norm.
Another prediction is the failure of many companies to align and integrate their data with digital trends. Automation will improve many functions in finance, but some CFOs are unaware of the extreme data needs and technical difficulties that will be associated with that change. Waiting for leaders to follow in that kind of environment will prove catastrophic for some.
A report from the professional services giant Deloitte explains some of the things on the horizon for finance in light of the digital age. One of the predicted trends is fewer businesspeople becoming comfortable with basic finance and eschewing financial services. As automation becomes the norm, simple tasks that were once esoteric are being automated and self-service will become the norm.
Another prediction is the failure of many companies to align and integrate their data with digital trends. Automation will improve many functions in finance, but some CFOs are unaware of the extreme data needs and technical difficulties that will be associated with that change. Waiting for leaders to follow in that kind of environment will prove catastrophic for some.
