Finance and accounting is one great area for AI to create tangible value. For one, it was possibly one of the first areas to be automated as computers started appearing in corporate rooms. Here is someone whose work you might find interesting if you are an accountant. It goes with my recent experience with a company. The company was able to check process compliance over millions of rows of data.
Glenn Hopper CFO at Eventus Advisory. Here is what he said in an interview with Forbes about his use of GPTs and AI.
"I wasn't a great programmer, but I knew enough to be dangerous. I started finding ways to gather more and more data to fuel my forecasts and find new ways to report on the status of the business. It gave me a way to present sophisticated financials to the investors, lenders, boards, ....I used ChatGPT to write code to build an app that let me upload financial statements, and it would kick out some basic financial analysis, such as variance analysis, key financial ratios, some basic charts and graphs, and did some forecasting based on historicals. It wasn't the most robust tool out there, but the time from concept to creation was staggeringly quick.."
