Finance leaders are in need to keep up with the rapidly changing market brought about by the advent of artificial intelligence in the business landscape. To use AI and generative AI to deliver near-term outcomes, transformative innovation and increased trust is not an easy task.
- Implement responsible AI to build trust. Responsible AI offers frameworks, templates and code-based assets for your AI usage and data governance to be ethical, secure, compliant and robust. An AI framework is a powerful tool to instill trust in both conventional and generative AI.
- Act to operationalise AI at scale. AI offers its greatest benefits when you use it at scale. For generative AI, that may require changes in your approach to model development and deployment, your technology architecture and skills.
- Recognise new ROI opportunities. Finance leaders must boost their AI strategies that capture indirect costs (such as new burdens on specialists and the new oversight needs of generative AI) and indirect benefits (such as improved employee and customer experiences).
Generative AI's business applications today
- Customer service. Cut costs through automation and enable self-service that actually satisfies rather than irritates through true personalisation and rapid, accurate responses to questions and concerns.
- Automating high-volume tasks. Whether it’s processing insurance claims, meeting payrolls, creating “first drafts” of software code or technical writing, you can automate much of the tedious, repetitive knowledge work that humans currently do.
- Provide people with insights. Generative AI’s ability to read, listen to, synthesise and analyse text and voices can give your teams a start on the information they need from things like contracts, invoices, customer feedback, corporate and government policies.
