AI can be a value driver for finance teams – but only if used responsibly and ethically

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As finance teams explore the benefits of AI, it’s crucial to understand the risks

One of the promises of artificial intelligence is the technology’s ability to boost productivity by tackling mundane and repetitive tasks. This should theoretically enable finance teams to focus on higher-order strategic thinking.Especially in the finance department, there’s no margin for error when it comes to accuracy, security, privacy and ethics.

It’s important, Mr. Van Itallie says, to know and evaluate the risks, some of which are “inherent” to AI – like the fact that laws and regulations still lag behind this technology. , a platform that uses generative AI to cut down on the time- and data-intensive stock picking process. “Explainability of what is going into everything is paramount for our users.”“AI systems, like humans, will get things wrong from time to time,” Mr. Pantony says. “That human oversight is still so important. We see the marriage of human intuition and AI’s processing power as being greater than the sum of its parts.

 

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