In this episode, host Michael Marchuk interviews Mohammed Hafeez Baig, an expert in AI and finance. They discuss the evolution of finance systems, the integration of AI into traditional workflows, and the importance of maintaining trust and transparency in AI applications. Mohammed shares insights from his book, 'AI-Powered SAP Finance,' emphasizing the need for finance professionals to adapt to new technologies while preserving the strengths of established systems. The conversation highlights the potential of AI to enhance decision-making and operational efficiency without disrupting existing processes.
Here's what we discussed:
-AI is not here to replace humans but to enhance existing processes.
-Traditional finance systems excel in discipline and accountability.
-Trust in AI comes from transparency and explainability.
-Finance professionals need to adopt a mindset of continuous learning.
-The financial close process can be transformed into real-time activities with AI.
-Modernization in finance means improving what already works.
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