Gen AI in finance and accounting: Unlocking strategic decision-making
Businesses can use Gen AI in finance and accounting to transform core processes, mitigate risks, and reinvent business partnering. The technology will help finance & accounting teams provide recommendations to their management, explain variances, create reports, and make strategic decisions using forward-looking insights. Gen AI can also automate routine tasks like data entry, invoice processing, and reconciliation, freeing up employees to focus on higher-value activities.
Additionally, it can enhance fraud detection by identifying anomalies and patterns in financial data that might indicate suspicious activity. By augmenting human capabilities and driving efficiency, Gen AI has the potential to revolutionize the finance and accounting function, enabling organizations to achieve greater agility and make data-driven decisions with confidence.
