How AI and Humans Can Work Together in Finance

Finance teams are changing how they work. They are using AI to handle routine tasks. This lets them focus on more important things. AI can do things like closing books, forecasting, and reporting. It can also spot problems and give clear results. Humans still make the big decisions. They guide the AI and step in when needed. AI in finance is growing fast. More companies are using it. A recent survey shows that almost 60% of finance leaders now use AI. This is up from less than 40% just two years ago. AI is not replacing finance basics. It is helping companies that already do things well. AI gives finance teams more time. They spend less time on data and more time on strategy. They can make better decisions. They can also communicate better with the business. AI can do tasks like budget updates and report generation. This frees up time for more important work. Prophix is a company that helps with this change. They use AI agents to do tasks on their own. These agents can do things like budgeting and reporting. They give results that are easy to understand. This helps finance teams focus on strategy. They do not need to add more people.Good data is key to this change. AI needs clean and connected data. This data should show how the business really works. It should include financial and operational data. It should also include data about people. This helps with forecasting and making improvements. Mid-sized companies are leading this change. They have complex needs but small IT teams. AI can help them manage these needs. It can help with things like project costs and planning. It can also help with margin analysis. A good platform can make these tasks easier. Security and privacy are important. Finance teams must protect sensitive data. They must also make sure AI outputs are correct. This is crucial for compliance and governance. Responsible data management is a must. The future of finance is about balance. AI handles routine tasks. Humans focus on strategy. This balance gives finance teams more clarity and confidence. They can lead the business even in uncertain times.