February 2025
Intermediate to advanced
512 pages
13h 16m
English
book
Generative Artificial Intelligence in Finance
by Pethuru Raj Chelliah, Pushan Kumar Dutta, Abhishek Kumar, Ernesto D. R. Santibanez Gonzalez, Mohit Mittal, Sachin Kumar Gupta
Content preview from Generative Artificial Intelligence in Finance
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20Empowering Financial Efficiency in India: Harnessing Artificial Intelligence (AI) for Streamlining Accounting and Finance
Bhawna and Priya Gupta*
Atal Bihari Vajpayee School of Management and Entrepreneurship, Jawaharlal Nehru University, New Delhi, Delhi, India
Abstract
In the dynamic landscape of 21st-century India, the dawn of artificial intelligence (AI)-led automation is reshaping financial reporting and redefining the role of technology in accounting and finance. This comprehensive review chapter explores AI’s diverse and profound applications and transformative impact within the Indian financial context. By harnessing AI, organizations unlock newfound efficiencies, liberating their workforce to focus on strategic endeavors that foster growth and innovation. As businesses adapt to an ever-evolving landscape, the automation of core financial processes, ranging from accounts payable and accounts receivable to reconciliation, financial reporting, and advanced analytics, emerges as a critical necessity for sustained success. This chapter offers a holistic perspective on streamlining accounting and finance tasks through AI, elucidating the potential advantages, inherent challenges, and future prospects. Beyond the promises of efficiency and insight, this research scrutinizes the complexities of adopting AI-driven solutions. It explores issues concerning security, data privacy, and sustainability, underscoring the need for careful consideration and strategic planning in ...
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