Budgeting is a multi-step process that involves two key components: tactical and strategic. Tactical budgeting focuses on short-term objectives. It involves resource allocation, cost management, and performance tracking — tasks that are well-defined and driven by data. In these areas, AI excels. Its ability to process large volumes of data and make real-time adjustments allows it to optimize short-term resource allocation, improving operational efficiencies with remarkable speed and accuracy. In recent years, artificial intelligence and machine learning have been deployed as game-changers for corporate budgeting, in the hopes that they will bring unprecedented accuracy and efficiency to financial forecasting and resource allocation. Can AI really help in strategic budgeting ?

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