AI-driven finance: A new era of continuous transformation for CFOs

The integrated capabilities of AI agents enable the processing of large amounts of data, real-time analyses and predictions as well as the summarization and presentation of information. As a result, they are fundamentally revolutionizing the way financial transactions are conducted. Finance has evolved into a dynamic, real-time and continuous field. In AI-driven finance, automated workflows, predictive insights and collaborative actions are possible, leading to unprecedented efficiency and deeper business understanding. Finance teams can now focus on operational monitoring, business optimization and delivering reliable, actionable insights.

A paradigm shift: AI agents and the future of finance

AI agents combine traditional and generative AI to provide multidimensional capabilities that can execute end-to-end processes with minimal human intervention. These agents do more than individual AI software as they replace large parts of traditional, labor-intensive workflows and introduce new functions.

Oracle is a driving force behind this change, developing a range of AI agents that are redefining the hands-on work of finance today. By combining different AI agents, CFO teams can achieve higher levels of productivity and efficiency than ever before. CFOs can achieve strategic goals more proactively by accessing AI-powered insights, forecasts and recommendations in real time. In doing so, they utilize comprehensive data sets that were previously unavailable to them. Embedded AI agents could become the backbone of finance and continue to evolve by regularly integrating new automation and optimization capabilities. The era of iterative financial transformations with point solutions and additional software could soon be a thing of the past.

The basis is the Agent for document conversion from Oracle, which automates data capture and document creation for billing, accounting and data management. This includes processes such as breaking down expense receipts, processing supplier invoices, bank reconciliations and creating journal entries. Using the generative AI component, the agent can process data from different formats and languages so that it can deal with everyday realities, such as when a new trading partner sends in an order in a completely different format. The agent is continuously improved so that data accuracy and quality is increased through automation and little or no additional configuration is required. This advanced feature increases productivity and improves the completeness, accuracy and timeliness of data.

This allows finance teams to gain a new perspective based on a broader data set than ever before. Finance teams use their knowledge and expertise to develop optimal recommendations and actions. At the same time, they contribute to the continuous improvement of AI agents and data to ensure the highest quality and reliable results. In this way, finance can become more business-oriented, more action-oriented and, above all, more valuable. Crucially, CFOs do not need data scientists to use these tools effectively.

This base of AI agents is growing at a rapid pace. In combination with a SaaS platform that provides up-to-date and company-specific data, we believe that new opportunities for financial organizations will continue to arise.

Finance teams and AI: a strong partnership

The role of finance teams will evolve dramatically in this age of AI. AI agents automate many processes, yet they will only complement, but never replace, experienced finance professionals. AI uses big data and processes it in new ways. It analyzes and presents information and trends so that finance teams can apply their judgment, strategic insights and decision-making skills. Establishing centers of excellence for AI agents will become a best practice that enables seamless collaboration between humans and AI.

Change management must become a core competency as finance teams create a framework for continuous updates to processes, data and technology. AI agents support teams by focusing on real-time data and AI-driven outcomes, improving processes, defining measures and optimizing results. Human expertise will always be crucial when it comes to monitoring and optimally managing AI outcomes.

Now is the time for AI-driven finance

AI-driven finance activities are not just about process improvements; they represent a new way of thinking for CFOs. AI agents using your data can achieve results beyond current capabilities, allowing you to focus on operational efficiency and business outcomes.

The future of finance is clear. Now is the time to switch to AI-driven financial processes.

Author

Jean Marc Pfammatter is Applications Leader Switzerland at Oracle. www.oracle.com