“CFOs say their firms are tapping AI to automate a host of tasks, from paying suppliers, invoicing, procurement, financial reporting, and optimizing facilities utilization,” said Duke finance professor John Graham, academic director of the CFO Survey. “This is on top of companies using ChatGPT to generate creative ideas and to draft job descriptions, contracts, marketing plans, and press releases.” View the full results >
Do Firms Expect Persistent Pricing Pressures — And Does Automation Make a Difference?
Over the last year, inflation has eased meaningfully from its post-pandemic peak, but it has remained above the FOMC's percent target. This occurred despite a persistently strong labor market with robust job growth and unemployment near 4 percent. At the same time, a proliferation of news articles about the pervasiveness of automation and artificial intelligence, along with studies about their impact on jobs and wages, motivated us to examine whether automation has helped firms offset pricing pressures, including through lower labor costs. Read more in Research & Commentary >
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