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The growing variety and complexity of tasks within the finance function has resulted in the creation of a discipline that is supposed to become a bridge between the finance and business to support decision-making process by leveraging data and technology. This relates to FP&A which stands for financial planning and analysis.
With the emergence of , AI tools and Large Language Models (LLMs) like ChatGPT, Google Bard, and BERT, professionals in these fields can benefit from enhanced capabilities and streamlined processes. They highlighted how AI technology is transforming the way finance and accounting teams work with data and make decisions.
The internal rate of return (IRR) is a core component of capital budgeting and corporatefinance. The second method is preferable because financialmodeling works best when it is transparent, detailed, and easy to audit. Source link.
Many CFOs are now leveraging AI-powered spend analytics to detect cost inefficiencies and identify savings opportunities across procurement, logistics, and operational expenditures." Joseph points out that AI doesn't just crunch numbers, but rather it actively helps finance leaders see around corners.
Risk Management: Given the CFO’s role in identifying and mitigating risks, tasks related to safeguarding the company’s assets and financial health are critical. This includes not just financial risks but also operational, regulatory, and strategic risks.
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