{"id":23357,"date":"2024-06-05T10:55:49","date_gmt":"2024-06-05T14:55:49","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=23357"},"modified":"2026-02-12T04:06:31","modified_gmt":"2026-02-12T09:06:31","slug":"how-to-master-ai","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/how-to-master-ai\/","title":{"rendered":"The tech-finance fusion: How to master AI"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tTechnology & Innovation<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tThe tech-finance fusion: How to master AI\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"Asavin\"\t\t\t\tAsavin Wattanajantra<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

Finance is undergoing a quiet revolution. Driven by a wave of tech innovation, financial expertise and tech skills increasingly overlap.<\/p>\n\n\n\n

As highlighted in the report Secrets of Successful CFOs<\/a> today\u2019s financial leaders are at the forefront of corporate strategy, using AI-driven analytics and teamwork across different departments.<\/p>\n\n\n\n

The report shows that the entanglement of tech and finance is more than a trend\u2014it’s a fundamental shift. <\/p>\n\n\n\n

As a tech-savvy financial professional, this has created opportunities to redefine your role and boost your finance team\u2019s decision-making and efficiency skills if you\u2019re willing to adapt and innovate.<\/p>\n\n\n\n

Here’s what we’ll cover<\/h4>\n\n\n\n

Why AI in finance is important<\/a><\/p>\n\n\n\n

The challenges in adopting AI<\/a><\/p>\n\n\n\n

Johnny\u2019s Selected Seeds and Sage Ai<\/a><\/p>\n\n\n\n

Future opportunities presented by AI<\/a><\/p>\n\n\n\n

Final thoughts<\/a><\/p>\n\n\n\n

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Sage Ai<\/h2>\n\n\t\t\t\t\t\t\t\t\t
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Discover how you can use Sage Ai to make smarter, faster decisions, get a dynamic, real-time view of your business performance, and gain access to actionable insights.<\/p>\n

<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\tLearn more about Sage Ai<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\"\"\t\t\t<\/div>\n<\/div>\n\n\n\n

Why AI in finance is important<\/h2>\n\n\n\n

A revolution in revenue growth and workflows<\/strong><\/h3>\n\n\n\n

79% of CFOs surveyed believe AI will revolutionize workflows and boost revenue. <\/p>\n\n\n\n

AI\u2019s impact on the financial landscape offers many benefits if you aim to maintain a competitive edge.<\/p>\n\n\n\n

Integrating AI into the heart of your financial operations enhances analytics and forecasting ability. This results in more accurate predictions and intelligent, data-driven decision-making.<\/p>\n\n\n\n

This shift optimizes financial performance as it manages the flow of data and gives you insights faster. It also propels revenue generation as AI identifies and helps you capitalize on new opportunities.<\/p>\n\n\n\n

The adoption of AI in finance goes beyond the bottom line to affect the human aspect of the business<\/strong><\/h3>\n\n\n\n

According to the report, 77% of CFOs have observed that integrating AI has improved job satisfaction within their teams.<\/p>\n\n\n\n

This improvement happens because AI is great at automating routine and time-consuming tasks. This allows finance professionals to focus on more strategic and fulfilling work.<\/p>\n\n\n\n

The report also highlights that CFOs who effectively merge technology into their finance operations report a 20% higher satisfaction level in their roles.<\/p>\n\n\n\n

So, what\u2019s happening? <\/p>\n\n\n\n

AI can help increase productivity, create a more engaged and motivated finance team, fundamentally transform workplace dynamics, and enhance overall team morale.<\/p>\n\n\n\n

AI becomes a great partner, doing the fiddly time-consuming calculations and admin that would otherwise take up hours of work. Meaning your teams can concentrate on other more business-critical things.<\/p>\n\n\n\n

Embracing AI in finance isn\u2019t simply about keeping up with the tech. It’s about setting a new standard for efficiency, innovation, and workplace satisfaction.<\/p>\n\n\n\n

Impact on regulatory compliance<\/strong><\/h3>\n\n\n\n

AI can help with regulatory compliance, a concern for any business. <\/p>\n\n\n\n

It can do this by eliminating human mistakes and non-compliance risks by automating and refining compliance processes through its ability to input, collate, and assess data accurately and quickly. <\/p>\n\n\n\n

For instance, Sage Ai technology in Sage Intacct uses outlier detection to monitor real-time transactions, identifying anomalies that could indicate fraudulent activities or breaches of regulatory standards. <\/p>\n\n\n\n

This feature shows how AI-driven tools can help you maintain compliance with evolving regulations by automatically adjusting your compliance systems and processes to be more efficient. <\/p>\n\n\n\n

Such proactive measures cut financial risks and ensure more accurate and timely reporting, protecting your reputation and legal standing. <\/p>\n\n\n\n

The challenges in adopting AI<\/h2>\n\n\n\n

Working with your tech suppliers<\/strong><\/h3>\n\n\n\n

The journey toward adopting AI in your financial operations won\u2019t be without hurdles. <\/p>\n\n\n\n

One of the primary challenges you might worry about is the significant cost needed to implement AI technologies.<\/p>\n\n\n\n

These costs can include the direct expenses of buying new software and hardware and the indirect costs of integrating these systems with your existing tech stack.<\/p>\n\n\n\n

Happily, you might find that your current software providers (like Sage) already incorporate AI capabilities into their existing platforms or are in the process of building them in. <\/p>\n\n\n\n

Using cloud-based software and data storage also has the added advantage of being able to be accessed anywhere and updated remotely, rather than siloed in physical offices.<\/p>\n\n\n\n

This proactive integration by your providers can significantly reduce  the financial burden and  complexity of adopting new tech since it\u2019s already built into the software you\u2019re using.  <\/p>\n\n\n\n

This can ease the transition burden, and you\u2019ll be able to use AI’s full power without requiring extensive independent investment.<\/p>\n\n\n\n

Upskill your team<\/strong><\/h3>\n\n\n\n

The report highlights that over 80% of finance leaders anticipate dedicating more time to tech innovation, which includes using new systems and upskilling their teams.<\/p>\n\n\n\n

Using AI well demands a high level of digital literacy and technical skills from your teams. <\/p>\n\n\n\n

Upskilling represents a substantial challenge. This is highlighted by the 61% of CFOs who plan to deepen their knowledge of new tech systems.<\/p>\n\n\n\n

Adequate staff training needs both time and resources. Your team wants to be comfortable using new tech so they can use AI tools to their full potential.<\/p>\n\n\n\n

Ethical considerations<\/strong><\/h3>\n\n\n\n

With AI becoming more widely used in finance, part of the role of a successful CFO is also one of assessment.<\/p>\n\n\n\n

Addressing AI’s ethical implications before you lock it in, is imperative.<\/p>\n\n\n\n

One primary concern is the potential for bias in AI algorithms. This can lead to unfair practices or discriminatory outcomes, particularly in credit scoring, customer service, and hiring processes.<\/p>\n\n\n\n

Ensuring AI systems operate transparently maintains trust and integrity within financial services but also within your role. <\/p>\n\n\n\n

To do this, you and your partners must implement strict guidelines and regular audits to verify that AI tools are used responsibly.<\/p>\n\n\n\n

An ethical AI-usage culture involves:<\/p>\n\n\n\n