

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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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.
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.
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.