Better Finance: CFO Insights podcast

How Microsoft's approach to AI could shape the future of finance

17 snips
Dec 3, 2024
Cory Hrncirik, Modern Finance Lead at Microsoft, brings over 17 years of experience to the discussion on AI’s transformative impact on finance. He reveals how Microsoft is leveraging AI for enhanced forecasting and risk management. The conversation emphasizes the pivotal role of quality data and collaboration in driving innovation. Cory also discusses empowering finance professionals to become citizen developers using low code tools, showcasing the company's strategic integration of technology to navigate the digital landscape.
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INSIGHT

Microsoft Finance Transformation Building Blocks

  • Microsoft's finance transformation relies on a clean chart of accounts, outsourced transactional work, and centralized operations.
  • They also use unified data platforms, standardized reporting, AI, and citizen developers.
ANECDOTE

Systems Thinking in Finance

  • Microsoft's finance team uses systems thinking to improve cross-functional collaboration.
  • An example is building a central data lake for cash flow, integrating data from various teams.
ADVICE

Starting with Imperfect Data

  • Don't wait for perfect data to start using AI.
  • Begin with available data, and AI models will reveal data needs as they evolve.
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