November 14, 2024
AI is Changing Finance (DO THIS to Not Get Replaced)
 #Finance

AI is Changing Finance (DO THIS to Not Get Replaced) #Finance


AI is Revolution corporate Finance and it’s happening faster than you think if you are a CFO a fpna professional a m content or any other

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance professional then what I’m about to share with you in this CashNews.co can literally transform how you work the way we handle financial data create reports and make decisions is

undergoing a massive transformation and let’s be honest if we are not adapting you are at risk of being left behind or Worse replaced but here’s the thing it’s not about AI taking your job it’s about you leveraging AI to become irreplaceable in this CashNews.co I’m

going to show you exactly how to do that I will reveal the strategies that have helped dozens of other Finance professionals just like you gain a nedge compared to their cagues Save hours

each day and become Irreplaceable this isn’t some vag theoretical discussion I’m talking practical Hands-On techniques that you can start using today to secure your position and accelerate your career in corporate color: #1a73e8; text-decoration: none;">Finance however if you don’t have the focus to watch an entire YouTube CashNews.co like this even though your career can depend on it then you should just click away now as this CashNews.co is probably not for you you’re still here

now let’s get into it how is AI revolutionizing Finance we think that AI is new but actually text-decoration: none;">Finance has been using AI since a long time if you look at the accounts payable the process of digitalizing the invoices and recognizing what are inside invoicing that was actually already using AI through a term called OCR but the problem is that after that people

needed to do a rule to come into the invoice and explaining where to map the information now you don’t need people to explain the system where to book the invoice because with NLP natural language programming this is actually recognized by AI based on the field on the invoice where to book

the invoice so all of the processes that needs a lot of time for the Accounting teams you are going to get the help of AI to read the document to recognize where to book it either if it’s an invoice either if it’s an order either if it’s a receipt or travel

expenses and then the booking is done in the system and most probably the booking will be more accurate because there is no errors and secondly it will be much faster another way that AI is going to help us is how to identify anomalies imagine an Accounting team having to process

hundreds and hundreds of travel expenses and to make sure that the travel expenses and the reimbursement respect the company policies it’s impossible to not make mistakes but if you delegate that to a AI program that knows the rule then this program can run through all of the receipts and

flag all of the wrong receipts or the fraudulent receipts another part where AI is going to help Finance more and more it’s actually what CFOs want the most is a better

Forecasting why because machine learning can learn from the past and predict the future and machine learning the difference with us is that machine learning can process much more data and Link data that are from different systems that is unstructured structure the data and then

make some propositions on the Forecasting for machine learning we’ll use some algorithms like linear regressions or PCA or profet or Sima that will identify Trends and correlations in the data to plan the future and help

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance teams and management to make more sense of the historical data to have a more accurate forecast and most probably once it’s working and once you have the algorithm in place a faster way of

Forecasting and then the Third Way Finance can help is really on how to make financial reporting and analyze data because you will see that AI will bring a more automated

Insight because you can read the data with AI and make graphs from it and inotify some patterns from this pattern then AI can write a mini summary or prepare some graphs you have seen it already in co-pilot or in ch GPT and this will help the

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance team spend less time in producing this report but more time analyzing and recommend actions to improve the results before I continue with the CashNews.co I wanted to remind you that if you are a

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance professional and if you are serious about your career then make sure to subscribe to my channel as I have a bunch of valuable CashNews.cos coming in the next weeks about how to

incorporate AI into your work and become Irreplaceable so what is the risk for you of not adapting to AI first AI is not going to go away you will see that AI is going to come more and more in all of our tools either speaking to AI to after Le run your program with natural language programming or

through Forecasting having your AI algorithm do the Forecasting for you which means that you need really to understand how AI Works to make the best use of it imagine 39 years ago when Excel was there and imagine if you bet against Excel well do you think today you

will still have a job in Finance probably not so with EI is the same it’s there it’s going to stay it’s going to be even more present in our jobs in our

tools and it’s going to help us more so again like Excel if you can use AI better than your peers if AI makes you work faster don’t you think I think you should embrace it to have a better career to go home earlier I have trained many people on this and I can tell you that the people

who got trained have now a better future got promotions spend much more time doing human tasks like speaking to the business talking to management to recommend actions and also understanding what is not really readable through data rather than doing robotic tasks like long Excel or booking a lot of

General I’ve seen a lot of Finance professionals trying to learn AI in their own way and often they don’t know where to look for the information they don’t know what is good

what is not good they don’t know already where to start but it doesn’t have to be that way what is the right way to learn Ai and to leverage it for your career in none;">Finance first you need to learn how to use generative AI so for this learn my framework the CSI and FBI CSI stands for context so you will give the context for example if you want to issue a ding letter to a client and you want your AI tool to draft it for you then start by

giving the context meaning I am an accountant then the S of CSI is to be specific my client didn’t pay me since two months then the I of CSI is the instruction please draft a reminder letter for this clients so if you will stop there you will be okay the output will be already much more

valuable than if you have to do it by yourself or if you look for template online now imagine this client never pays some time you need to tell to your AI assistant that you want to be harder and for this we are going to bring a second team so after CSI we bring the FBI you use the F for format you

can say that either you want a script to call your client or you want a formal letter or an email or in other contexts you can ask for tables you can ask for checklist can ask for slides and then the B of the is the most important is blueprint with blueprint you’re going to tell what you want

to have inside the output and for example here you can say you want words like legal actions and you want that the communication is hard and then I of the FBI is for identity you can ask your AI to act as a lawyer like this you know that the writing would be much better than an accountant so

that’s the first part CSI FBI the second part is to understand the AI tools that exist there and which one you could use already today for this I recommend to download my top AI Finance

tools and you will see the link in the description and third I really encourage you to Learn Python but not learning it like we have learned the old way with spending Years Learning data science and programming no now you don’t need to program anymore because AI is going to program for you if

you ask your GPT to do the code for you for python then it will write the code for you so what you can do is learn what python can do and then use tgpt to code for you and to create for example a python script to do Forecasting with AI and we have actually a course with chrisan

martinez where we teach that in just four hours and is amazing to see how fast people learn and how the words opens when they see that in just 50 minutes they can use Ai and Python and then after that we show them everything you can do with python like fincial analysis complex Graphics that

don’t exist in Excel changing files imag combining water files in just a few seconds python can do that and the code is really small but is on top made by chbt and the last part that python can help is Forecasting these are the three recommendation learn prompt engineering

learn which AI Finance tool will fit your business and third use Python and AI together remember the key is not to fear AI but to embrace it as a tool that can supercharge your career so now

you have two choices first you can try to figure all this out on your own spending countless hours and potentially making costly mistakes or second you can be part of the top 1% users by downloading my free chat GPT user guide made for

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance professionals like you this PDF list Frameworks that you can start implementing right away to get your hands on this Che sheet absolutely free click the first link in the description below and if you are serious

about becoming Irreplaceable and incorporating AI into your work then this is really non-negotiable so again click that first link and get your free chpt user guide PDF if this CashNews.co was valuable to you subscribe to my channel and I will see you in the next CashNews.co

Now that you’re fully informed, check out this insightful video on AI is Changing Finance (DO THIS to Not Get Replaced).
With over 638 views, this video deepens your understanding of Finance.

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