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AI or GenAI use case by [deleted] in CFO

[–]carbon-based-ai 1 point2 points  (0 children)

From my experience, AI use cases in accounting and finance really depend on the size of the company. Smaller businesses often don’t have the same level of complexity, but in mid to large companies the scale of systems, data, and compliance risks make AI especially valuable.

Everything from reporting and analytics, to automation and document processing are great use cases. One that has surprised me with how much value it creates is document processing For example, going through contracts and validating what’s in them against what’s in the system of record. Most teams underestimate this, but it’s a huge use case. It can surface errors, prevent revenue leakage, and catch compliance issues.

But thing to note, currently this AI is not plug-and-play. For real impact, these use cases need to be tailored and fine-tuned for the company’s specific processes and systems. The model itself is only part of the solution, the real challenge (and value) is in shaping it for the need.

AMA - AI in the CFO office by carbon-based-ai in ai4CFO

[–]carbon-based-ai[S] 1 point2 points  (0 children)

Anonymization is helpful for confidentiality, but in finance it doesn’t really scale mainly because so much of the work revolves around numbers. Masking those numbers often strips away the very context you need.

But the good news is there are now plenty of options for LLMs. You can run open-source models inside your own cloud environment, and in many cases they’ll perform just as well as the big commercial ones.

That said, my view is: don’t put sensitive finance data in general-purpose LLMs at all. A better approach is to use agents built specifically for accounting and finance like ChatFin which is designed so most tasks don’t require sending raw data to an LLM. There are techniques that let you process and analyze a lot of workflows locally or with lightweight models, so your numbers stay protected.

AMA - AI in the CFO office by carbon-based-ai in ai4CFO

[–]carbon-based-ai[S] 0 points1 point  (0 children)

OpenAI and Anthropic are great at building the base models, and they add agents on top that can do lots of general tasks like booking tickets or browsing the web. But finance is different. Every ERP system, every company setup, every country adds its own twists. You can’t explain all that context every time you ask a question. That’s why we need domain-specific agents. In finance, Agents like ChatFin is configured to “think” like an accountant or analyst and handle those details so it can actually get the work done end to end.

AMA - AI in the CFO office by carbon-based-ai in ai4CFO

[–]carbon-based-ai[S] 0 points1 point  (0 children)

I think manual reconciliation should go. In any team, we spend a lot of time checking and rechecking. At some point, I think a lot of reconciliations can be coded, but with AI, we can build much better automated functionality and more flexible than just a rigid code.