Artificial intelligence is increasingly being used to predict future financial trends by analysing past data. AI systems can quickly and accurately analyse vast datasets to provide insights for personalised financial planning, risk assessment, fraud detection and automated investment strategies. Silicon Valley is at the forefront of these innovations, with companies leveraging AI to democratise financial services. AI-powered investment platforms and robo-advisors offer personalised investment advice by analysing market trends and economic indicators.
However, there are potential limitations to using AI in finance. AI's reliance on historical data may make it unreliable for identifying outliers with mega-profit potential. Despite these limitations, AI is still seen as a game-changer in the finance industry, with the potential to drive efficiency gains and transform the role of finance teams. CFOs are using AI platforms to interact with data using natural language, expediting operations and enabling forward-looking analysis.
