Our CEO , Mike Ettling , recently talked about merging the power of AI with human-centred design to streamline user interactions with enterprise resource planning ( ERP ) systems and reduce errors , as well as alleviate manual and repetitive tasks . In the long-term , it is possible that harnessing AI will enable our applications to adapt and respond effectively to triggers such as user behaviours , tasks and location . In the world of FP & A , this feeds into our ambition to create a user experience that is not just intuitive and engaging but which is also context-aware , smart and forward-thinking .

There are exciting possibilities for GenAI in FP & A . Imagine if the annotations that line-of-business leaders add to FP & A reports at quarter end could be used by GenAI to generate a summary report of that commentary .

GenAI ’ s linguistic capabilities are probably its most valuable asset to FP & A teams right now . When compiling assumptions about a budget , a GenAI tool could sit alongside an FP & A application to provide the report creator with insights that inform those assumptions . Pragmatism , though , is invaluable in this situation . Data hallucinations are a well-documented issue with this technology , so a company ’ s AI policy should stipulate how the FP & A team engages with GenAI , how it interrogates the answers it provides and how it ensures the sources are authentic .

Lay solid foundations for GenAI It is important to lay the right foundations for adopting GenAI – starting with the organisation ’ s policy . This should address points such as :

• Setting guardrails to prevent sensitive financial information from being shared with an external app or being exposed to the public Internet . It is also important to have role-based authorisation to ensure only the right individuals are sharing information with the tool

• Ratifying how to train the application to avoid data hallucinations , appreciate nuance and deliver accurate analysis . In FP & A settings this has layers of complexity because the GenAI will require access to subplans to appreciate conditions that are unique to a particular organisation . Getting this right will make it possible to understand and explain how decisions are reached

• Delivering technical and business training to show how FP & A professionals can use the technology www . intelligentfin . tech

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