#Factoftheweek
Are tech budgets up or down? Gartner suggests technology budgets are set to rise for 75% of CFOs.
Nearly half are planning increases of 10% or more.
Perhaps one of the more interesting points in the recent study is that the numbers point to an interesting trend to watch: AI (artificial intelligence) adoption is moving from pilot to scale.
Let’s consider some of the numbers that contribute to this trend.
· 60% of CFOs plan to increase finance function AI investments by 10% or more in 2026.
· 24% expect gains of between 4% and 9%.
· 47% are allocating just 1% to 5% of finance technology spend on AI.
Why is this shift occurring? The numbers suggest there are three top priorities that emerge among the research:
1. Automate
2. Shorten cycles
3. Control Costs
Confidence is definitely growing among organizations when it comes to artificial intelligence, as many are beginning to see the benefits of. Time will certainly tell how the rate of adoption pans out.