AI (Artificial Intelligence) in Finance - Identification Worksheet

Description
This worksheet will help identify where AI applications can add the most value.

Use the drop down cells in the light tan boxes in column E-G to answer how Important Speed (column E), Accuracy (column F) and Handling Large Volume (column G) are to each of the Competencies listed. (Specfic wording in Column D under each Core Competency can be change to fit your nomenclature.)

Those Competencies with the highest scores show the most promise for AI application.

In their role as curator of critical information for their company, Chief Financial Officers must create processes and develop systems that filter out noise and focus only on the most important, actionable information. The plethora of data being created is growing at astronomical rates making this role much more crucial and much more difficult. In this article we’ll explore how CFOs can take a practical approach to integrating artificial intelligence (AI) into their operations.

First let’s define AI in a manner that applies to its use in finance.

AI is information derived from algorithms applied to data set(s) normally accomplished with little or no human intervention.

- Algorithm: a set of steps that are followed to solve a mathematical problem or to complete a computer process
- Information: knowledge you get about something: facts or details about a subject

If you have any questions or stumble along the way please reach out to us at CFO.University. You wouldn’t be here if you didn’t believe professional growth was critical to your success. We wouldn’t be here if we couldn’t help you accomplish that.