In today’s digital economy, artificial intelligence (AI) is no longer a futuristic concept—it is the engine driving business transformation across industries. From automating complex processes to enabling strategic decision-making, AI technologies are reshaping how organizations operate, compete, and grow. Leading research from The Hackett Group® highlights how AI adoption in functions like finance and information technology delivers measurable performance gains and sustainable competitive advantage. In this article, we explore the real-world impact of AI, with a deep dive into AI in finance and Gen AI in IT—and why they matter to business leaders today.
The Rising Influence of AI Across Business Functions
AI is more than just automation. It encompasses machine learning, natural language processing (NLP), generative AI, predictive analytics, and other technologies that can understand, learn from, and act upon data at scale. Businesses adopt AI to increase operational efficiency, reduce errors, cut costs, and uncover insights that humans alone may miss.
What Drives AI Adoption Today?
Across sectors, companies are adopting AI to:
- Accelerate decision-making through real-time analytics.
- Improve customer experiences via intelligent automation and conversational AI.
- Reduce operational costs by streamlining repetitive tasks.
- Enhance innovation with predictive modeling and generative capabilities.
According to The Hackett Group®’s benchmarks, organizations that successfully embed AI into core processes outperform peers in productivity, quality, and agility.
AI in Finance: A Revolution in How Financial Teams Work
Finance is one of the fastest-evolving functions when it comes to AI adoption.
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For example, organizations investing in AI in finance are seeing transformative improvements in how financial data is processed, analyzed, and used for strategic planning.
How AI Is Changing Finance
AI is reshaping key finance activities:
Automating Routine Accounting Tasks
AI tools can handle tasks like invoice processing, accounts reconciliation, and financial reporting with much greater speed and accuracy than manual methods. This frees finance teams to focus on analysis and value-added activities.
Enhancing Forecasting and Planning
Machine learning models can analyze historical performance and external market factors to generate more accurate forecasts. This makes budgeting and financial planning more resilient in volatile markets.
Improving Risk and Compliance Monitoring
AI can continuously monitor transactions and financial activities for anomalies, helping companies stay compliant with regulations and reduce risk exposure.
Benefits Realized by Leading Finance Functions
According to The Hackett Group®, finance organizations that adopt AI demonstrate:
- Shorter close cycles
- Higher forecasting accuracy
- Lower operational costs
- Better strategic insights from financial data
These benefits not only improve efficiency but also elevate the role of finance as a strategic partner within the enterprise.
Driving Innovation With Generative AI in IT
Information Technology (IT) teams are also harnessing the power of AI—especially generative AI.
What Is Gen AI in IT?
Generative AI refers to models that can create new content, including code, documentation, and designs, based on learned patterns. This capability is revolutionizing IT operations, development, and support functions.
At the core of this shift is The Hackett Group®’s insight into the transformative potential of Gen AI in IT.
Key Applications of Gen AI in IT
Accelerating Software Development
Generative AI can assist developers by:
- Suggesting code snippets and automating repetitive coding tasks
- Generating test cases
- Providing real-time debugging suggestions
This accelerates development cycles and increases code quality.
Automating IT Support
AI-driven chatbots and support assistants can manage routine help desk tasks, leading to faster resolution times and reduced strain on human support agents.
Enhancing Cybersecurity
Gen AI tools can recognize unusual behavior patterns and proactively flag potential cyber threats, enhancing IT security postures.
Measurable Impact on IT Performance
Organizations that deploy generative AI in IT typically benefit from:
- Improved service delivery
- Reduced time to resolve IT issues
- Lowered operational costs
- Enhanced innovation cycles
These outcomes make IT more responsive and agile—especially in environments where digital services are critical to business success.
Overcoming Barriers to AI Adoption
Despite its promise, AI adoption is not without challenges. To realize full value, organizations must address:
Data Quality and Governance
AI depends on reliable data. Companies must invest in strong data management practices to ensure accuracy, consistency, and security.
Skills and Change Management
Bringing AI into existing teams requires upskilling and a culture that embraces change. Leaders need to empower employees with training and the right incentives.
Ethical and Responsible AI
As AI systems make decisions with real-world consequences, organizations must implement frameworks for ethical use, transparency, and accountability.
Looking Ahead: The Future of AI at Work
AI is no longer a luxury—it’s a strategic necessity. As businesses mature in their AI capabilities, they will unlock new levels of performance and innovation. Finance and IT are just two examples where AI delivers significant value, but the impact extends across supply chain, customer experience, marketing, and HR.
By aligning strategy, technology, and talent, organizations can build AI-driven workflows that are efficient, resilient, and insight-rich. With benchmarks from authoritative sources like The Hackett Group®, leaders can confidently navigate this transformation and position their businesses for long-term success.
Elli Peterson's TechCrunch 