Artificial intelligence (ai) with office of the CFO
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The document presents an overview of artificial intelligence (AI) and its applications in accounting and finance, led by expert Paul Young. It discusses the evolution of the industry and the role AI plays in enhancing decision-making, automation, and data analysis for CFOs. Additionally, it highlights various AI-enabled IBM solutions aimed at improving financial performance management and risk analytics.
Artificial intelligence (ai) with office of the CFO
- 1. Click to add text © 2014 IBM Corporation Artificial Intelligence (AI) with Accounting and Finance Presenter: Paul Young, CPA, CGA – Proven Practice Adviser – Risk Analytics, FOPM/FPM and Close, Consolidate and Reporting Day: July 6, 2017
- 2. © 2012 IBM CorporationSeptember 9, 2014 • Paul Young, CPA, CGA • SME – Financial Performance Management (TM1, Cognos Controller and Cognos Disclosure Management, OpenPages, Algorithmics, Cognos Integrated Server, Cognos Command Center and Datawatch) • Industry Experience • 15+ years in Corporate Reporting, Budget & Forecasting, Costing, Business Process Management, Internal Audit and Controls, Risk Management, Financial Analysis, Costing • 12+ years in financial solutions (FOPM, FPM, Risk, Office of the Finance, Risk Management) • 8+ years teaching Advance Finance, Advance Accounting, Public Finance and Advance Management Information Systems • Blogger in areas like Finance Analysis, Government policies, market segment
- 3. © 2012 IBM Corporation • What is AI • Evolution of Accounting and Finance • AI and the Accounting Profession • Gartner/Data Sciences • Automated Solutions Agenda
- 4. © 2012 IBM Corporation What is AI Source - http://searchcio.techtarget.com/definition/AI September 9, 2014 AI (pronounced AYE-EYE) or artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using the rules to reach approximate or definite conclusions), and self-correction. Particular applications of AI include expert systems, speech recognition and machine vision
- 5. © 2012 IBM Corporation Evolution of Accounting and Finance Source - http://www.businessreviewaustralia.com/finance/2441/What-does-the-future-of- accounting-look-likeSeptember 9, 2014 Australia Business Review – June 23, 2017
- 6. © 2012 IBM Corporation AI and the Accounting Profession Source - https://www.accountingweb.com/community/blogs/anthonym/how-accountants-can- prepare-for-the-age-of-ai or https://www.accountantsdaily.com.au/technology/10401- artificial-intelligence-infiltrating-accounting-industry https://www.finance- monthly.com/2017/06/whats-the-future-of-automation-in-finance-accounting/ September 9, 2014 • Automation • Accountants need to move more to business insight, risk management, cost controls and strategic planning
- 7. © 2012 IBM Corporation AI and CFO Source - https://www.forbes.com/sites/forbestechcouncil/2018/03/26/with-ai-cfos-are-poised- to-evolve-their-role-within-organizations/#467743fb5175 September 9, 2014 As with most notable transitions related to an industry or role, technology is rising to support this strategic shift. The real value of this technology is in enabling CFOs to analyze data in more meaningful ways. Built for the cloud, solutions are architected from the ground up to capture more than traditional accounting transactions. They capture a broad set of financial and non- financial data and present insights via modern real-time dashboards. These dashboards may have KPIs, charts, reports, lists and even social feeds for analyzing the most important metrics to an organization’s success. Of course, all this insight is worthless if the CFO is mired in daily accounting operations and can’t get free to analyze the business. CFOs adopt cloud solutions knowing they’ll see the monthly close process continuously shrink, freeing up hours, days or even weeks of time.
- 8. © 2012 IBM Corporation Data Sciences Source - https://rapidminer.com/resource/gartner-magic-quadrant-data-science-platforms/ September 9, 2014
- 9. © 2012 IBM Corporation IBM Solutions • FOPM - https://www.ibm.com/ca-en/marketplace/planning- and-analytics • Consolidation Solutions - https://www.ibm.com/us- en/marketplace/auditable-financial-consolidation • Risk Analytics - http://www.ibm.com/analytics/us/en/business/governance- risk-compliance/ • Artificial Intelligence and Cognos Analytics - https://www.ibm.com/blogs/business-analytics/announcing- ibm-cognos-analytics-11-1/ September 9, 2014
- 10. © 2012 IBM CorporationSeptember 9, 2014 • Contact information • Paul Young (email: paul.young@ca.ibm.com)
Editor's Notes
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