Data And Disruption: Mastering AI And Machine Learning For Finance

I am happy to have completed the “Data and Disruption: Mastering AI and Machine Learning for Finance” Course by the MIT Sloan School Of Management – a part of the Massachusetts Institute of Technology.

The fact is that AI isn’t on its way to come — it’s already here with us! It’s already transforming the finance industry too.

The sessions in “Mastering AI and Machine Learning for Finance" made me learn about how to harness the full potential of AI and machine learning from experts at MIT Sloan School Of Management by the Massachusetts Institute of Technology, Stanford University, Babson, Deloitte, AICPA-CIMA, and Workday, including how to:

- Recognize finance’s role in the AI productivity boom.

- Build effective data strategies with the help of new AI models.

- Use AI to automate the workflows and increase productivity.

- Understand coming AI regulations and their impact on finance.

- Train the talent for success in an AI-augmented workforce.

The 5 sessions in this course discuss about:

- AI and the Coming Productivity Boom

- Explainable AI: Finance’s Role in Creating an Effective Data Strategy

- AI-Fueled Finance: Practical Use Cases for Intelligent Automation

- Regulatory and Business Implications of AI

- Upskilling Finance Talent for an AI-Augmented Workplace

From this course, I also read their article "AI and the C-Suite: A Guide to Top-Down AI Implementation". It is a collection of MIT SMR articles that expand on key topics covered in “Mastering AI and Machine Learning for Finance.” Each article provides high-level, research-backed recommendations for the successful top-down implementation of concepts covered in the learning series.

The knowledge I got from this article:

- Everyone in a company should make decisions about the investment in Artificial Intelligence (AI) tools, including the CFO (Chief Financial Officer).

- The CFO can make a bigger leadership impact in AI strategy and adoption.

- Finance Processes and Tasks can be performed by AI.

- The CFO should step up to AI Leadership now.

- Robotic Process Automation (RPA) is important.

- The CFO can motivate other leaders to adopt AI within the business.

- The CFO can be one of the Most Important Executives in a company’s journey to effective use of AI.

- But… Many CFOs are still slow to take full advantage of AI, Machine Learning (ML), and Digital Technology.

- The CFOs who have successfully advanced their analytic skills using AI can deliver more real-time insights, reduce human error, and speed up process and decision-making.

- The CFO can use AI to meet Strategic Needs, explore and explain the ML, calculate, cooperate, share experiences with other divisions, increase analytic skills, and manage changes.

- The CFO must try to achieve partnerships from other parties and trust and sponsorship from the whole company.

- The CFO can try to create and use Reusable AI.

- The company and the whole management, including the CFO, should design the data and AI, check the result of AI works, and monitor all, including the problem.

I thank the MIT Sloan School Of Management, the Massachusetts Institute of Technology, Workday, Stanford University, Babson, Deloitte, and AICPA-CIMA. Thank you for sharing the great knowledge! 

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