What's next in tech for finance? Accelerate your AI adoption

Technology continues to reshape our world and has been accelerated by the pandemic. As you rethink processes for the new environment, you may be asking how technology can help improve efficiency and effectiveness. This podcast is the next episode in the second season of our What’s next? podcast series for CFOs, controllers — anyone in finance. This season we’re focusing on what’s next in tech for the finance professional — discussing the benefits of technology through the lens of the finance function. In this episode, host Heather Horn sits down with Dr. Anand Rao, a PwC partner leading our Artificial Intelligence efforts globally, to look at how AI systems help solve problems and free up the finance professional for more strategic activities.Topics include:0:57 -  AI overview. Many consider AI to be an emerging technology, but the truth is that AI has been evolving for over 6o years. AI is a computer sensing, thinking, or acting. We begin by explaining what that means.8:54 - Bias in AI. Anand explains the complex trust and bias issues that surround AI and stresses the importance of robust testing. 18:51 - Uses of AI in the finance function today. The application possibilities for AI are countless. We discuss common areas of adoption and share practical examples. 24:54 - Where to begin. If you’re just starting your AI journey, how can you get started? We discuss how leading organizations start small, then gain momentum. Dr. Anand Rao is a PwC partner leading Artificial Intelligence efforts globally. He is also the Innovation Lead for the US Analytics team. Anand works with C-level executives, advising them on a range of topics, including global growth strategies, marketing, sales, distribution and digital strategies, behavioral economics and customer experience, risk management, and statistical and computational analytics. Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].