Future Finance

Future Finance: Unlocking the Power of AI for Finance Professionals With Jon Brewton TLDR: Jon Brewton, the founder and CEO of Data2, talks about how his company uses AI and machine learning to help clients in make better decisions and avoid errors.Each week we ask AI to generate our show notes and optimize them to get you interested in the story.  This week we used Microsoft CoPilot to write the shownotes.This episode of Future Finance features Jon Brewton, the founder and CEO of Data2, a company that provides AI and machine learning solutions for finance and other industries. He discusses how his company helps clients use AI to analyze data and make better decisions, as well as the challenges and risks of using AI in high-stakes contexts.Jon Brewton is an expert in AI and machine learning, with a rich background in operations management, digital transformation, and engineering. He has worked at major energy companies like BP and Chevron, and he is a US Air Force veteran and a graduate of some of the top universities in the world. He shares his insights and best practices on how to leverage AI and machine learning to enhance financial performance and outcomes, and how to avoid common pitfalls and errors that can arise from AI applications.In this episode, you will learn:· What Data2 does and what its goals and principles are in AI and machine learning.· Why traceability and explainability are crucial for AI applications in high-stakes industries like finance.· How Knowledge Graph technology can enhance financial data analysis and provide more context and meaning.· What AI hallucinations are and how they can affect financial decision-making.·  How to integrate advanced analytics and AI into your finance workflows and processes.This episode is a must-listen for anyone who wants to learn how AI and machine learning can help them make smarter decisions. Listen to the episode now and discover how you can use these technologies to your advantage.Follow Jon:LinkedIn: https://www.linkedin.com/in/jon-brewton-datasquared/ Website: https://www.data2.ai/Follow Glenn: LinkedIn: https://www.linkedin.com/in/gbhopperiiiFollow Paul: LinkedIn: https://www.linkedin.com/in/thefpandaguyFuture Finance is sponsored by QFlow.ai, the strategic finance platform solving the toughest part of planning and analysis: B2B revenue. Align sales, marketing, and finance, speed up decision-making, and lock in accountability with QFlow.ai.Follow QFlow.AI:Website - https://qflow.ai/future-finance[01:50] Introduction to the episode[02:29] Opening remarks by Paul Barnhurst. [04:54] Why your job is safe for now[13:50] Introducing Jon Brewton and his extensive background.[14:51] Welcoming Jon Brewton to the show[15:31] Jon shares the story and mission of Data 2.[18:47] Discussing the critical features for financial institutions.[25:11] Exploring advanced applications and their benefits including generative AI and knowledge graphs.[34:24] Addressing AI hallucinations and how Data Squared tackles this issue to ensure reliable outcomes.[41:41] Advice for finance departments on adopting AI technologies.[46:28] Jon shares his most rewarding job and a cause he's passionate about.[48:54] Final thoughts and closing remarks.

TLDR: Jim O'Neill, co-founder of SaaSWorks, discusses the critical role of AI in modern finance, emphasizing the importance of clean data, the convergence of AI with other technologies, and the need for businesses to adapt to an AI-driven landscape.These show notes were written by Claude.AI Sonnet LLM Model. Dive into the Future of Finance with AI Pioneer Jim O'NeillAre you ready to revolutionize your business with AI? Join us as we explore the cutting edge of financial technology with Jim O'Neill, co-founder of SaaSWorks and former HubSpot executive. In this eye-opening episode, Jim unveils the secrets to harnessing AI's power in finance and beyond.Key Insights:The make-or-break factor for AI success: pristine dataAI's game-changing fusion with quantum computing, nanotech, and gene editingWhy your company needs an AI budget – nowNavigating the ethical minefield of AI advancementCultivating an AI-driven culture of innovationDon't miss Jim's invaluable wisdom on preparing your business for the AI revolution. Learn how to stay ahead in a rapidly evolving technological landscape and transform your financial operations.Follow Jim:LinkedIn: https://www.linkedin.com/in/jim-oneill/Website: https://www.saasworks.com/Join hosts Glenn and Paul as they unravel the complexities of AI in finance. Follow them on LinkedIn:Glenn: https://www.linkedin.com/in/gbhopperiii Paul: https://www.linkedin.com/in/thefpandaguySponsored by QFlow.ai – Revolutionizing B2B revenue planning and analysis. Learn more at Qflow.ai/future-finance.In honor of having the show notes written by AI we have added the below sonnet as Claude.AI, Sonnet model wrote the notes. Sonnet:In finance's realm, where numbers reign supreme, A new force rises, born of silicon, Artificial minds, a waking dream, O'Neill speaks of change that's just begun.Clean data's key, the lifeblood of AI, As quantum leaps with nano-innovations dance, In gene-spliced futures, new worlds we'll spy, While ethics guard our technological advance.Businesses must adapt or fade away, Embracing risk and AI's transformative might, O'Neill's wisdom lights the coming day, Where human and machine in harmony unite.So heed this call, let Future Finance guide, To prosperous tides on which we'll proudly ride.In today's episode:[00:52] - Episode Overview and Sponsorship[01:38] - Monologue[07:31] - Your Job is Safe[08:56] - Importance of clean data for effective AI implementation[09:58] - Guest Introduction[15:30] - Founding SaaSWorks and its mission[18:11] - Common issues with spreadsheets and data management[21:09] - Discussion on generative AI in business operations[25:55] - Using AI for innovative and unexpected solutions[29:11] - Recommendations for companies adopting AI[32:07] - Discussion on AI adoption and Excel parallels[32:37] - Random AI-Generated get to know you questions[36:08] - Conclusion

This week on Future Finance before getting to our guest interview HAL 9000l makes a guest appearance and Glenn has a fun discussion about romantic relationships and AI that you will not want to miss. Welcome to the exciting world of Future Finance! Today's episode dives into the exploration of the dynamic intersection of AI and finance. Ben Dooley, the global head of Productized Solutions at Infospace, joins Paul Barnhurst and Glenn Hopper for a thought-provoking discussion on responsible AI, strategic innovation, and the future of financial automation.Here are the key takeaways to whet your appetite for the full episode:Ben emphasizes the importance of a responsible AI framework that includes human-centric design, fairness, explainability, security, reliability, and compliance to ensure ethical and effective AI implementation.Tailoring AI to meet human needs without mimicking human intelligence is crucial for making AI tools that enhance human capabilities and ensure user trust.The need for AI to be explainable is highlighted, with Ben suggesting models should cite their sources and provide logic for their decisions to build trust and understanding among users.Privacy concerns around AI usage are discussed, emphasizing the necessity for better regulatory frameworks to control who has access to data and how it is used.The discussion on how AI can play a strategic role in finance by improving forecasting, automating processes, and driving strategic transformation within organizations.The discussion touches on the current capabilities of AI in automating traditional finance tasks and the potential future where true autonomous agents could revolutionize the industry.With over a decade of experience in managing complex projects, driving corporate change, and leading entrepreneurial ventures, Ben is an expert in AI and change management. This insightful episode with Ben Dooley underscores the importance of responsible AI and its transformative potential in finance.Follow Ben:LinkedIn: https://www.linkedin.com/in/bendooley/Website: https://www.infocepts.ai/Follow Glenn:LinkedIn: https://www.linkedin.com/in/gbhopperiiiFollow Paul: LinkedIn: https://www.linkedin.com/in/thefpandaguyFollow QFlow.AI:Website - https://qflow.ai/future-financeStay tuned for a deeper understanding of how AI is shaping the future of finance and what it means for businesses and individuals alike.Future Finance is sponsored by QFlow.ai, the strategic finance platform solving the toughest part of planning and analysis: B2B revenue. Align sales, marketing, and finance, speed up decision-making, and lock in accountability with QFlow.ai.Learn more at Qflow.ai/future-finance.In today's episode:[01:16] - Episode Overview and Sponsorship[03:00] - Responsible AI Framework Introduction[04:40] - Reliability and Compliance in AI[06:21] - Current AI Capabilities and Risks[11:47] - Guest Introduction[12:14] - AI in Traditional Finance Tasks[17:52] - Fairness and Bias in AI[19:40] - Trust and Verification in AI[22:02] - Strategic Use of AI and Balancing Privacy in Finance[27:32] - Future Predictions for AGI[28:52] - Other Exciting Technologies[31:57] - Fun rapid-fire Session[34:20] - Best Career Advice[36:34] - Conclusion

Welcome to a special episode of our podcast! Today, we're thrilled to bring you an exciting Podswap. We are sharing an episode from Financial Modeler’s Corner.  Stay tuned for an engaging conversation you won't want to miss. Here are the show notes from our previous episodes.Welcome to the Financial Modeler's Corner (FMC), where we discuss the Art and Science of Financial Modeling with your host Paul Barnhurst.Financial Modeler's Corner is sponsored by the Financial Modeling Institute (FMI), the most respected accreditation in Financial Modeling globally.In today’s episode, Paul engages in a conversation with Cameron and Nicholas Hay to discuss dynamic arrays in financial modeling. Cameron and Nicholas share their experiences and insights on using dynamic arrays to build fully dynamic models, avoiding common pitfalls, and the benefits of this approach.Cameron and Nicholas are seasoned financial modeling experts and co-founders of Finomatic Consulting. Their practical advice and innovative tips have helped countless professionals enhance their modeling skills.Key takeaways from this week's episode include:Use dynamic arrays to reduce the number of formulas and potential error points. Clearly separate inputs, calculations, and outputs into distinct sheets. This enhances clarity and ease of use.Ensure uniform column and row structures across sheets. This consistency minimizes errors and simplifies formula management, making models easier to audit and understand.Mixing traditional Excel formulas with dynamic arrays reduces the benefits. A complete commitment ensures better performance and error reduction.Using graphs and charts helps quickly identify trends and anomalies, making it easier to ensure realistic assumptions and accurate models.Establishes a solid foundation, ensuring you learn best practices early on, which prevents the development of bad habits and enhances overall modeling skills.Implementing dynamic arrays can drastically reduce the file size and complexity of models, making them more efficient and manageable.Issues like mixed calculations and unrealistic assumptions emphasize the importance of thorough checks and realistic inputs in financial modeling.Download a sample fully dynamic 3-statement model Excel Files — The FP&A Guy (thefpandaguy.com), courtesy of Cameron and Nicolas Hay. Quotes:Here are a few relevant quotes from the episode on financial analysis and modeling:"A blank Excel workbook doesn't have any errors in it until you add data and formulas. Minimizing the number of formulas should reduce the error potential of the file.”“With business, if you can understand how cash flows around a business, that's you can get in and really understand a business.”“If you're going to dip your toe into dynamic arrays, you've got to make sure you commit fully with 100% commitment.”Follow Cameron and Nicholas:Cameron Hay LinkedIn - https://www.linkedin.com/in/cameron-hay-ca-a31b4752/Nicholas Hay LinkedIn- https://www.linkedin.com/in/nicholas-hay-1992/Website - https://finomatic.co.uk/Follow Paul: Website - https://www.thefpandaguy.com   LinkedIn - https://www.linkedin.com/in/thefpandaguy  Follow Financial Modeler's Corner  LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true  Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984In today’s episode:[00:03] - Introduction[00:40] - Guest Introduction and Theme for the Week: Dynamic Arrays[01:50] - The Worst Financial Model the Guest Experienced[02:00] - Horror Stories: Mixed Calculations and Unrealistic Assumptions[04:10] - Key Takeaways from Horror Stories[05:00] - Guests’ Backgrounds and Career Journeys[10:00] - The Importance of Structure and Design in Financial Modeling[14:10] - Introduction to Dynamic Arrays and Their Benefits[21:30] - Challenges with Corkscrews and Lambdas[31:20] - Rapid-Fire Session and Guests’ Contact Information

Adam Tzagournis, a generative AI expert, discusses AI's impact on finance. Topics include AI outperforming humans in analysis, automating tasks for productivity, and the need for human-AI collaboration. The podcast explores tools used in finance, evolution of AI in finance, practical applications of generative AI, empowering small businesses with AI, and predictions for the future of finance.

TLDR: These show notes were optimized using Claude ChatGPT 4.0 and are designed to make you listen to the full episode. We also asked H4.0 to write a brief limerick summarizing the show notes.There once was a podcast on AI,Transforming accounting, oh my!With Mitchell's insight,Efficiency in sight,A must-listen for those on the fly.Show Notes:Welcome to Future Finance, with your hosts Paul Barnhurst and Glenn Hopper, where we focus on the technological advancements and emerging trends fueling the FP&A professionals. We bring you vital updates and insights into the technologies that are going to shape not just finance and accounting, but every sector of the world in the years ahead.In today’s episode, Paul and Glenn engage in a conversation with Mitchell Troyanovsky, Co-Founder of Basis, to discuss the transformative impact of AI on the accounting profession. The discussion highlights the differences between rule-based systems and generative AI.Highlights of the Episode:Generative AI vs. Rule-Based Systems: Generative AI offers contextual understanding and reasoning, unlike rule-based systems that rely on rigid if-then statements, making it more adaptable to complex accounting tasks.AI as a Digital Assistant: AI can create first drafts of accounting tasks, enabling accountants to review and refine the work, thus saving time and increasing productivity. "You'll start having accountants much more of their job, rather than being this kind of monotonous manual work, start to be like, okay, this work has been done for me as a first draft, let me now review it."Enhancing Strategic Value: AI acts as a digital assistant, supplementing the workforce rather than replacing it, and allowing accountants to provide more strategic value to their clients. "It is a tool for accountants. Explicitly, at the end of the day, the job that they can do the best is to advise their clients, help their clients, help them make better decisions, and be that partner, with them, rather than needing to be stuck in all the manual work needed to get to that actual real value add at the end of the day."Shifting Roles and Skills: The introduction of AI in accounting will shift the focus from data entry and basic tasks to more analytical and advisory roles, making the profession more appealing to new graduates.Addressing Trust Issues: While AI will make mistakes, just like human employees, it is essential to implement systems to catch errors and continuously improve AI performance through feedback and iteration.Future Finance is sponsored by QFlow.ai, the strategic finance platform solving the toughest part of planning and analysis: B2B revenue. Align sales, marketing, and finance, speed up decision-making, and lock in accountability with QFlow.ai.Learn more at qflow.ai/future-financeFollow Mitchell:LinkedIn: https://www.linkedin.com/in/mitchelltroyanovsky/Website: https://www.getbasis.ai/Follow Glenn:LinkedIn: https://www.linkedin.com/in/gbhopperiiiFollow Paul: LinkedIn: https://www.linkedin.com/in/thefpandaguyFollow QFlow.AI:Website: https://qflow.ai/future-financeIn today's episode:[01:32] Introduction[06:35] Real-world applications of ChatGPT 4.0 in financial analysis[08:50] Evolution of AI models and their impact on specialized financial tools[11:23] Guest’s background[13:43] Overview of Basis and the need for AI in accounting[17:10] Differences between rule-based systems and generative AI[20:22] How AI handles accounting workflows[26:42] Addressing fears and trust issues with AI in accounting[33:11] Fun rapid-fire Session[37:40] Contact information for more learning opportunities

TLDR: These show notes were optimized using Claude AI Haiku and are designed to make you listen to the full episode. We even asked Haiku to provide a Haiku summarizing the show notes for your reading pleasure.Haiku:Finance takes new shape,AI-driven transformation,Shaping the future. Prepare to be captivated as hosts Paul Barnhurst and Glenn Hopper welcome Sasha Orloff, CEO of Puzzle, to uncover the technological advancements reshaping the world of finance and accounting. In this eye-opening episode, you'll discover:How generative AI is seamlessly integrating into everyday software, automating tasks and delivering data-driven insights.The rise of "AI agents" in 2024 - advanced systems designed to autonomously process complex problems and provide tailored solutions.Sasha's visionary project, Puzzle, modernizing accounting software with real-time, flexible financial data processing.The transformative potential of blockchain technology to enhance transparency and traceability of financial transactions.The future of finance reimagined through AI and predictive analytics, empowering more precise forecasting and strategic decision-making.Sasha shares his insightful perspective:"I'm building Puzzle, which is modern accounting software for growing companies.""We may not yet be at a point where AI is going to take our jobs, but the future will be divided into two camps: people who use AI and those who don't. One of these groups is going to be left behind."Don't miss this captivating conversation that explores the intersection of finance, technology, and AI. Gain invaluable insights to stay ahead of the curve and thrive in the rapidly evolving world of corporate finance.Follow the Conversation:Glenn Hopper (LinkedIn: https://www.linkedin.com/in/gbhopperiii)Paul Barnhurst (LinkedIn: https://www.linkedin.com/in/thefpandaguy)Sasha Orloff (LinkedIn: https://www.linkedin.com/in/saor/)Puzzle (LinkedIn: https://www.linkedin.com/company/puzzlefin, Website: https://puzzle.io)Future Finance is sponsored by QFlow.ai, the strategic finance platform solving the toughest part of planning and analysis: B2B revenue. Align sales, marketing, and finance, speed up decision-making, and lock in accountability with QFlow.ai. Learn more at Qflow.ai/future-financeIn today's episode:[01:53] Introduction[03:34] The latest phase of AI revolution[04:51] Pros and cons of chatbots and the rise and evolution of AI agents[09:17] Recent updates about AI[13:52] Guest’s background[15:30] Insights from guest’s career[17:51] Introduction of Puzzle and future of general ledger in accounting[25:12] How blockchain can be an effective tool for accounting[30:24] How AI and predictive analytics can change finance in upcoming years[34:34] Democratization of data science and various uses of machine learning[39:05] Lighting Round Questions!

New show coming soon...