Is generative AI creating the Finance organization of the future? No doubt the technology arms race to build the best analytics and process mousetrap is well underway across the globe. Large-scale accounting, consulting, technology providers, and systems integrators are investing billions in generative AI. As the shortage of accounting talent worsens over time, the need for the machine to do the work of people becomes more of a necessity. Oddly, while we implicitly trust technology for our connected lives, do we trust machines to replace human judgment calls on complex accounting strategies?
No doubt the generative AI era was thrust upon us without guardrails in place. Finance teams and consultants will learn to optimize newly found AI capabilities to improve the effectiveness and efficiency of data analytics and decision support. Accounting will be a great test of machine-learned prowess and likely succeed given it is a rules-based applied science. Hopefully, we still make the big decisions and not leave it to artificial intelligence. Much more to follow on this topic and apparently so little time...
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