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Informative Article | Data & Knowledge Engineering | India | Volume 12 Issue 5, May 2023
From Data to Decisions: How AI is Shaping Financial Management
Abstract: In today's dynamic business landscape, the integration of artificial intelligence (AI) technologies is revolutionizing financial management practices. This paper delves into the intricate relationship between AI and financial management, elucidating how AI - driven processes are reshaping decision - making from data acquisition to strategic implementation. Through a comprehensive analysis of case studies and industry examples, it becomes evident that AI plays a pivotal role in enhancing efficiency, accuracy, and agility within financial operations. By leveraging advanced data analytics and machine learning algorithms, organizations can extract valuable insights from vast datasets, enabling informed decision - making across various domains such as risk management, investment strategies, and regulatory compliance. However, alongside its transformative potential, the paper also addresses the challenges and ethical considerations associated with AI adoption in financial management, emphasizing the importance of responsible AI governance and transparency. Furthermore, it explores emerging trends and potential future developments in this rapidly evolving field, offering valuable insights for organizations seeking to harness the full potential of AI in financial management.
Keywords: Artificial Intelligence, Financial Management, Decision - making, Data Acquisition, Data Analysis, Machine Learning, Efficiency, Accuracy, Agility, Risk Management, Investment Strategies, Regulatory Compliance, Ethical Considerations, Responsible AI Governance, Transparency, and Emerging Trends
Edition: Volume 12 Issue 5, May 2023,
Pages: 2646 - 2653