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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

They’re not very good at mathematics or dealing with numbers in general. While other AI models are far superior to humans in their ability to perform complex mathematics and spot trends, patterns, and variances across a broad swath of data, LLMs are not.

Finance 95
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TEST Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

They’re not very good at mathematics or dealing with numbers in general. While other AI models are far superior to humans in their ability to perform complex mathematics and spot trends, patterns, and variances across a broad swath of data, LLMs are not.

Finance 52
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How Tech Can Help Uncover The Story Behind Financial Data

PYMNTS

By using ‘out-of-the-box’ cloud infrastructure building blocks, you can align the C-level suite by bringing the data together that stakeholders need to make decisions,” said Born. The nature of financial reporting is to communicate facts aggregated using accounting rules. These facts can be audited back to the source.

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12 Best Paying Jobs in Finance in 2023

CFO News Room

Job security is always a concern when choosing a career, but some fields are more recession-proof than others. After all, people will always need financial services, whether investing their money , taking out loans, or managing their taxes. Financial Analyst. One industry that tends to be recession-resistant is finance.

Finance 130
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Italy’s UniCredit Announces Data Breach Affecting About 400,000 Customers

PYMNTS

Italy’s UniCredit has confirmed that the personal financial data of about 400,000 customers has been compromised. According to Finextra , the affected customers took out loans through the bank, and their personal data has been hijacked by unauthorized third parties.

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Mitigating financial fraud risk with data analytics

Future CFO

At the launch of a recent report examining the effectiveness of financial fraud risk management, Julie Bell Lindsay - the Executive Director at the Center for Audit Quality — was quoted as saying that “the risk of financial statement fraud at public companies is real, and that risk has only increased during the pandemic.”.

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Small Businesses At The Center Of Bots Vs Accountants

PYMNTS

One way this shift has materialized is in how small businesses seek and hire financial professionals to join their companies. These reports reflect the changing role of the human financial professional. McKinsey research , released in 2017, pegged the number of jobs worldwide that could be lost to automation by 2030 at 800 million.