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AI and Automation in Finance - Possibilities for the future

Artificial intelligence (AI) is poised to disrupt the lives of individuals, the societies we live in, and the global economy, causing both excitement and trepidation. It goes beyond doubt that AI will automate tasks that have long required human labour. In fact, AI’s unprecedented speed, accuracy and cost efficiency have encouraged CFOs to consider its adoption in the Finance and Accounting functions. This is especially true considering the scarcity of trained workforce and investment constraints to handle increasing volumes of data. Essentially, the finance professional is facing a changed paradigm where he/she needs to juxtapose their valuable judgement alongside AI’s predictive results in a variety of settings.