Creating financial reports
In many cases, AI might be working alongside other tools, such as data analytics tools that don’t use AI. What the AI does is bring an extra level of analysis and explanation to the results of those other tools. One of the significant tools that AI has made possible is the use of natural language processing and natural language generation. This means that AI tools can both understand normal language (i.e. it doesn’t have to be structured in nature) and indeed write it. The key rule of thumb is to treat AI like a junior colleague: try it out on tasks, but make sure you double- and triple-check all of its answers
These tools are already being embedded into standard software. Of these, the one that will make an impact on all of us is Copilot, which has been incorporated into Microsoft 365 and other Microsoft platforms. It will soon be helping you to write reports, create models, and prepare presentations. The key rule of thumb is to treat AI like a junior colleague: try it out on tasks, but make sure you double- and triple-check all of its answers – particularly to begin with – to make sure it hasn’t made any really unfortunate and obvious errors.
AI AND ETHICS | PART TWO: CREATING FINANCIAL REPORTS
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