Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth
By cultivating more sustainable, effective, and efficient corporate practices, artificial intelligence (AI) reinvents financial management. Contemporary finance includes AI as an existential component. The cornerstone technology of the industrial revolution and technological revolution is artificial...
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| Format: | Article |
| Language: | English |
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EDP Sciences
2024-01-01
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| Series: | ITM Web of Conferences |
| Online Access: | https://www.itm-conferences.org/articles/itmconf/pdf/2024/11/itmconf_icaetm2024_01033.pdf |
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| author | Bhokare Arati S. Patil Snehal D. Kulkarni Praveen. M. |
| author_facet | Bhokare Arati S. Patil Snehal D. Kulkarni Praveen. M. |
| author_sort | Bhokare Arati S. |
| collection | DOAJ |
| description | By cultivating more sustainable, effective, and efficient corporate practices, artificial intelligence (AI) reinvents financial management. Contemporary finance includes AI as an existential component. The cornerstone technology of the industrial revolution and technological revolution is artificial intelligence. The rise of artificial intelligence (AI) is reshaping financial management by transforming how firms make choices, allocate resources and control risk. As companies face increasing pressure to integrate sustainability into their operations artificial intelligence (AI) has emerged as a key tool for resolving complex environmental concerns and improving financial performance. AI-powered analytics can help businesses detect and assess ecological issues, optimize resource allocation, and speed up financial processes like forecasting, auditing, and budgeting. This strengthens decision-making and increases operational efficiency by providing real-time insights on ESG (Environmental, Social, and Governance) factors. AI also helps businesses, investors, and creditors. This research paper explores the literature on the transformative Power of AI in financial management, examining its role, applications, benefits, and challenges. It investigates AI’s impact on financial forecasting, portfolio optimization, risk management and compliance. |
| format | Article |
| id | doaj-art-bdc082da31614af19ea04b8cb0b3f00b |
| institution | DOAJ |
| issn | 2271-2097 |
| language | English |
| publishDate | 2024-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | ITM Web of Conferences |
| spelling | doaj-art-bdc082da31614af19ea04b8cb0b3f00b2025-08-20T02:49:56ZengEDP SciencesITM Web of Conferences2271-20972024-01-01680103310.1051/itmconf/20246801033itmconf_icaetm2024_01033Revolutionizing Financial management: Unleashing the power of AI for Sustainable GrowthBhokare Arati S.0Patil Snehal D.1Kulkarni Praveen. M.2DKTES’s Department of Management StudiesDKTES’s Department of Management StudiesKLS, Institute of Management Education and ResearchBy cultivating more sustainable, effective, and efficient corporate practices, artificial intelligence (AI) reinvents financial management. Contemporary finance includes AI as an existential component. The cornerstone technology of the industrial revolution and technological revolution is artificial intelligence. The rise of artificial intelligence (AI) is reshaping financial management by transforming how firms make choices, allocate resources and control risk. As companies face increasing pressure to integrate sustainability into their operations artificial intelligence (AI) has emerged as a key tool for resolving complex environmental concerns and improving financial performance. AI-powered analytics can help businesses detect and assess ecological issues, optimize resource allocation, and speed up financial processes like forecasting, auditing, and budgeting. This strengthens decision-making and increases operational efficiency by providing real-time insights on ESG (Environmental, Social, and Governance) factors. AI also helps businesses, investors, and creditors. This research paper explores the literature on the transformative Power of AI in financial management, examining its role, applications, benefits, and challenges. It investigates AI’s impact on financial forecasting, portfolio optimization, risk management and compliance.https://www.itm-conferences.org/articles/itmconf/pdf/2024/11/itmconf_icaetm2024_01033.pdf |
| spellingShingle | Bhokare Arati S. Patil Snehal D. Kulkarni Praveen. M. Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth ITM Web of Conferences |
| title | Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth |
| title_full | Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth |
| title_fullStr | Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth |
| title_full_unstemmed | Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth |
| title_short | Revolutionizing Financial management: Unleashing the power of AI for Sustainable Growth |
| title_sort | revolutionizing financial management unleashing the power of ai for sustainable growth |
| url | https://www.itm-conferences.org/articles/itmconf/pdf/2024/11/itmconf_icaetm2024_01033.pdf |
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