FASB studies AI use in financial data analysis
CFO Dive
MARCH 3, 2023
The surge in use of conversational artificial intelligence has prompted scrutiny of the technology’s role in financial decisions.
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CFO Dive
MARCH 3, 2023
The surge in use of conversational artificial intelligence has prompted scrutiny of the technology’s role in financial decisions.
Global Finance
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Chinas financial sector, from banks to brokerages, is rapidly incorporating DeepSeek, the nations champion in AI, for customer service, data analysis, and email sorting. ICBC uses DeepSeek for wealth management tasks and financial data analysis.
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Financial transformation has emerged as a critical imperative for organisations in 2024, driven by the need to adapt to rapidly changing economic conditions, technological advancements, and evolving business landscapes. However, the increasing complexity of global markets and the pace of technological change have redefined this role.
CFO Strategic Partners
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5 Keys to Staying Ahead of the Technology Curve with AI and Process Automation In today’s increasingly data-heavy finance arena, process automation is no longer a luxury. Data management, reporting, financial statements, forecasting, and analytics all depend on real-time, relevant data. It’s a necessity.
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He advocates for a streamlined dashboard approach to data analysis, using their BI system “big brain” to monitor four product lines. Glazer also highlights the role of technology in automating work processes, enhancing productivity, and reducing manual tasks.
CFO Leadership
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Survey: Executives Optimistic Despite Financial Disruption, Prioritizing Technology Adoption to Combat Talent Shortage As we near the halfway mark of 2023, the overwhelming theme throughout the year has been uncertainty. Not that technology is seen as a panacea — talent is still a worry.
Future CFO
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The accountancy profession, as we know it, faced challenges in technology--what with the concerns on how artificial intelligence poses threat on their jobs regarding the way it can take over their roles. This, of course, involves the adoption of technological advancements such as artificial intelligence within the team.
Bramasol
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It achieves this by offering intelligent recommendations, personalized experiences, automated tasks, and deeper customer insights at every interaction point, all driven by data analysis within the SAP ecosystem. Set Goals: Establish clear aims for AI integration, like improved decision-making, increased efficiency, or cost reduction.
Future CFO
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It has been an imperative for accountants to keep up with the technological advancements in the market, and understanding artificial intelligence now raises key challenges for finance professionals.
Centage
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Next, we asked John Murdock, CEO of Centage , and Nick Fischer, CEO of Cadilus to address these challenges head on, which they did in a webinar, People, Processes & Technology (available for free and on-demand). Unfortunately, they spend too much time compiling data, leaving them too little time to do the high-value functions.
E78 Partners
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The E78 PMI (Post-merger integration) practice specializes in helping clients overcome the intricate people, process, and technology challenges that accompany mergers and acquisitions. Conduct Culture Assessments: Pre-close, assess cultural similarities, differences, and potential flashpoints through executive interviews and data analysis.
Spreadym
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Corporate data processing refers to the use of technology to collect, store, manipulate, and analyze large amounts of business data in a corporate setting. Data Processing: After data is stored, it needs to be processed to derive insights and inform business decisions. Read about how it is made in Spreadym.
CFO Plans
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By employing advanced forecasting tools and real-time financial reporting, they maintained a healthy cash reserve, allowing them to invest in new markets and technologies confidently. Technology and automation are revolutionizing Strategic Financial Planning , offering advanced tools for data analysis and decision-making.
Future CFO
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Luxury resort operator Soneva has selected Workday to help it digitally transform finance operation and capabilities, the technology company announced recently. Soneva currently has four properties it operates across Thailand and the Maldives, according to Workday.
The Finance Weekly
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The rise and challenges of ERP systems Over the past 50 years, accounting and finance professionals have embraced existing and new technology, from using the first computers to implementing and using advanced ERP (Enterprise Resource Planning) systems. Are there companies in this space solving this problem?
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.” He suggests organizations should: Plant a flag with a bold vision Aim for a concrete, finite accomplishment Make the mission as crisp and clear as possible Provide an entryway for people to learn more gradually When to Refresh Your Brand Several triggers may indicate it’s time for a brand refresh: Expanding services or geographic reach (..)
Bramasol
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Healthcare providers can pay monthly fees for the use of the equipment, which includes regular maintenance, software updates, and access to the latest technology without worrying about large upfront capital expenditures. Consumables Subscription: In addition to the equipment, companies can also offer consumables (e.g.,
CFO Leadership
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Survey: Executives Optimistic Despite Financial Disruption, Prioritizing Technology Adoption to Combat Talent Shortage As we near the halfway mark of 2023, the overwhelming theme throughout the year has been uncertainty. Not that technology is seen as a panacea — talent is still a worry.
Future CFO
MARCH 2, 2023
Autonomous technology in finance will impact FP&A and controllership in three ways, as acceptance of these technologies among finance leaders is more prevalent, said Gartner recently. “80% The post Autonomous technology in finance to impact FP&A, controllership in three ways appeared first on FutureCFO.
The Finance Weekly
DECEMBER 30, 2021
For businesses, this might spell out the adoption of a new strategy, scheduling approach, or technology implementation. Technology implementation has been a popular course of action in recent years for many organizations. Moreover, how do you ensure data quality, security, and privacy as cybersecurity breaches stubbornly persist?
Centage
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Given the current business environment, today’s finance leaders need to be agile and adjust their technology in response to their business’ changing needs. According to Gartner’s 2021 Emerging Technology Product Leader Survey , nearly half of respondents chose cloud-based software as a top three emerging technology investment.
Future CFO
AUGUST 13, 2024
These technological advancements not only improve operational efficiency but also foster greater customer trust by effectively mitigating the risk of identity theft and other fraudulent activities." In this dynamic landscape, the collaboration of technology and data has become essential for achieving robust fraud prevention strategies."
Jedox Finance
SEPTEMBER 29, 2021
This term, set by Gartner, overlooks financial and non-financial business processes, data, and technology tools. Unified tools and processes reduce data silos, decrease a risk of potential misalignment, and support better long-term business performance. Connecting the dots.
Future CFO
AUGUST 7, 2024
As the business world veer towards constant changes--be it on technological advancements, regulations and policies, or sustainability standards and initiatives, it is imperative that Finance leaders know their way. Ho notes that CFOs, with their wider lens, can lead a team to draw insights from data to address specific strategic needs.
PYMNTS
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Plati Potom develops post-payment solutions for eCommerce and offline retailers, as well as data analysis and credit risk management tools. For QIWI, this transaction is another step in implementing its M&A strategy of investing in promising teams and technologies in the FinTech space. QIWI announced on Thursday (Oct.
Global Finance
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Most offer well-designed client interfaces, AI-powered portfolio management, and big data analysis. We aimed to move much fasterscale and adapt at speed to develop new digital services to execute thousands of trades in seconds, says Subhash Kelkar, former chief technology and digital officer at ICICI Securities in Mumbai.
PYMNTS
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Harnessing consumers’ digital information is critical to the success of any business, and data analytics and artificial intelligence (AI) can be especially powerful tools. Fast-food giant McDonald’s was not interested in using AI or data analytics until it noticed that many of its competitors were benefiting from the technologies.
Future CFO
JULY 21, 2024
It is why the accounting profession is in need to keep up with the technological trends and not be caught off guard by the hurdles on the way, fully understanding the weight and importance of upskilling and reskilling. This transformation is an intertwined act of two complimentary forces: Sustainability and Technology," Abrol explains.
Future CFO
JANUARY 2, 2025
The Philippine payments landscape is expected to witness a more seamless, secure, and interconnected setting in 2025, according to a forecast by Visa , and amid a rapidly changing digital economy, this is driven by technological advancements and evolving consumer behaviour.
Global Finance
JUNE 9, 2025
Wenov’s WeLab experiments with emerging technologies. In 2024, Wenov purchased more than $750,000 of these technologies. Currently, lab activities focus on the adoption of cutting-edge technologies in fields such as the metaverse, mixed reality, decentralized finance, and AI. The lab has focused heavily on AI and automation.
PYMNTS
JANUARY 2, 2020
The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax. We are a professional services firm, but technology is core to our future.”.
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The rapid pace of technological advancements and regulatory changes highlight the need for a forward-thinking, more strategic approach to financial planning and risk management. Tanganelli: AI has the potential to revolutionize finance by enhancing data analysis, improving forecasting accuracy and automating routine tasks.
Future CFO
JULY 17, 2023
Global corporate treasury leaders can serve as particularly essential strategic advisers right now— if they can harness the right data, analysis, and technology strategy to navigate choppy market conditions.
Future CFO
OCTOBER 2, 2024
Implementation across functions At the forefront of AI adoption, ACCA says data analysis and reporting emerges as the clear leader. In the audit space, AI offers enhanced capabilities for data analysis – enabling auditors to process information and identify outliers or anomalies more efficiently.
Future CFO
AUGUST 1, 2023
The demand for mobile wallets, online banking services, and the increasing adoption of digital technologies has led to the expansion of the financial applications market in Asia/Pacific. This trend is driven by the need for real-time data analysis and insights to make informed business decisions.
PYMNTS
MARCH 1, 2019
According to The Japan Times , the country’s National Police Agency is trying to ward off illegal transactions by training specialists in data analysis, as well as looking into artificial intelligence (AI) technology that can detect illegal trades.
Jedox Finance
NOVEMBER 19, 2020
Technical progress & progress through technology. The improvement in data quality follows with 53%. This finding is in line with what US-based FP&A expert Brian Kalish recently stated in his guest blog on data analysis : Data is abundant. New instruments for financial management.
PYMNTS
JANUARY 22, 2019
The technology is proliferating financial markets, particularly for some of the world’s largest financial institutions in need of enhanced compliance solutions. Organizations that struggle with technology are missing out on a catalyst to digital transformation , too. Turning Interest Into Adoption. ”
PYMNTS
OCTOBER 19, 2018
Standard Chartered also recently announced an initiative with Huawei to deploy Internet of Things (IoT) technology for enhanced supply chain data analysis in an effort to strengthen its trade finance offering. Reuters compared the network’s governance model to that of SWIFT ‘s, which standardizes connectivity.
Jedox Finance
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How does EPM fit within a business’s existing technology architecture? EPM bridges the gap between these different planning silos and supports planning, analysis and reporting of business results, KPIs and more. Collection of organization-wide financial and non-financial data. Analysis and calculation of major KPIs.
PYMNTS
JULY 28, 2017
From manufacturing to customer service, there have been several parts of today’s workforce that have been automated by some form of smart technology. In its arena, chatbots’ underlying technologies driving it is a combination of artificial intelligence (AI), machine learning and natural-language processing.
CFO Leadership
OCTOBER 10, 2023
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PYMNTS
SEPTEMBER 17, 2019
DataVisor has announced the launch of its new Feature Platform, which automates fraud detection through the use of artificial intelligence and machine learning data capabilities. The hallmark of the DataVisor approach is our holistic approach to data analysis using sophisticated feature engineering and machine learning.
Future CFO
AUGUST 21, 2023
Mark D McDonald “Just like any disruptive technology throughout history, AI will inevitably displace and replace some roles and skills, but new roles, skills, and opportunities will also emerge." What level of maturity in terms of experience at work and in the use of technology should a finance person have for AI to make a difference?
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