In years past, there were always certain topics that generated a lot of buzz at the MFM Annual Conference: the Metaverse, NFTs and Web3 are just a few of the more recent. But nearly everyone at the 2024 event agreed that artificial intelligence is a topic that is here for the duration. One case in point is the number of keynote and breakout sessions that either mentioned AI or addressed it head on: AI was part of at least 25% of the presentations. Monday's Genpact-led session, "Insights to Actions in FP&A: Navigating the AI Era in Media," took a deep dive into how AI technologies are disrupting financial planning and analysis, and how finance teams can -- and must -- get a handle on them in order to reap their significant benefits.
In this must-see video, MFM President Joe Annotti sits down with Manohar Ashwath, Genpact's Global Head of Media, Entertainment and Communications to summarize this hard-hitting session. Ashwath comes out of the gate early with an optimistic view of AI being leveraged by finance teams: "What is really transforming is the speed and real-time insights," he says. "Once you have that, think about the power you're giving the finance team to take action." He advises that the key to getting from experimentation to industrialization is data. "If you don't have the foundational element of data, there's no AI," he says. Manohar discusses trends, barriers to successful implementation of AI and offers examples of how media companies are reducing costs and enhancing productivity using AI.
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