Transforming Finance with AI

Generative AI significantly enhances the finance function by improving efficiency and accuracy in various tasks. For instance, innovative techniques allow finance teams to automate repetitive tasks and unify data seamlessly, such as the use of ChatGPT to code accounts payable invoices, which shortens the closing process. Hackathons conducted at OpenAI encouraged the identification of areas where AI could streamline processes, highlighted by the creation of a custom investor relations GPT that manages extensive due diligence inquiries within seconds, drastically reducing processing time. This transformation enables finance professionals to shift away from traditional number-crunching roles, allowing them to provide deeper business insights and evolve into strategic partners.