Intersection Of AI And Finance Operations
Given the advancing nature of technology, CFOs and their teams have arrived at the intersection of tech and finance innovation. Around 5-6 years ago, the roles and objectives of a CFO were immensely different. In today’s times, the demand for online solutions in finance operations as well as introduced the fintech industry altogether and redefined the role of CFOs.
Akshay Sharma, CFO, Axio explains that the technology is centric to whatever we do. The most interesting change I witnessed is on the collection side. We are able to predict the degree of high risk and to be able to evaluate how to lend to the segment further. Cash flow forecasting in the lending business is highly critical.
The speed of transformation is very dynamic and swift. Speaking on the same lines, Abhinav Jain, CFO, PharmEasy said, “AI is present, not future. The inclusion of AI and cutting-edge technology would result in an enhanced speed of operations, generating authentic data and much more. Businesses would be outdated if they would not be able to invest in the right technology.”
Prabin Dokania, CFO, GSTN and Jitesh Kakarea, Moet Hennesy have agreed with the other two panellists and emphasised that the companies are welcoming AI and hyper-automation for the better. Finance as an operation is changing from managing books to co-piloting business as a part of central decision making. AI and fintech have touched every domain of business from risk assessment to fraud detection or customer satisfaction.
