How AI is Revolutionizing Corporate Finance: Insights from Two Finance Leaders

The finance industry is in the middle of a digital transformation, and one of the most exciting players driving these notable changes is artificial intelligence (AI). From fraud detection to predictive analytics, AI is reshaping how businesses manage financial data and make strategic decisions.

In a recent podcast, Corey, Cardata’s VP of Finance, and Glenn Hopper, Head of AI Research & Development at Eventus, shared their insights on the applications of AI in corporate finance. Here’s a breakdown of the conversation, highlighting the benefits of AI, its challenges, and its full potential for finance professionals.

AI is a real game-changer for corporate finance

Corey kicked off the discussion by pointing out how the integration of AI is addressing long-standing inefficiencies in finance teams.

“We’ve always had access to vast amounts of data in finance, but now, with AI tools and machine learning algorithms, we’re not just collecting data—we’re leveraging it to make informed decisions in real-time.”

Glenn agreed, emphasizing that AI technologies are transforming routine tasks like budgeting and financial planning into opportunities for growth and automation.

“What used to take weeks, like running financial forecasts or analyzing datasets, can now be done in minutes with ai-powered solutions. That gives CFOs the time to focus on bigger-picture thinking.”

Key use cases for AI in finance

Forecasting with predictive analytics
By analyzing vast amounts of data, AI models can forecast trends with a level of accuracy humans simply can’t match. This helps businesses optimize investment strategies and improve cash flow management.

Glenn noted, “With the power of AI, we’re seeing financial institutions use predictive analytics to not only plan for the future but also adapt to real-time changes in the market.”

Fraud detection and risk management
AI’s ability to detect anomalies makes it super valuable for cybersecurity and risk management. 

Glenn explained:

“The beauty of AI is in its algorithms—they can identify suspicious patterns across datasets, minimizing human error and catching fraud before it causes significant damage.”

An enhanced customer experience
Using natural language processing and chatbots, AI-driven solutions are improving customer experiences in financial services. 

Corey highlighted:

“Think about how generative AI is transforming wealth management. Customers get tailored advice in seconds, improving their overall customer experience and trust in fintech solutions.”

Challenges and considerations

Despite its promise, Corey and Glenn acknowledged that adopting AI isn’t without its hurdles.

Glenn stressed the importance of staying compliant as AI systems evolve.

“The tech is advancing faster than the regulatory landscape, so businesses need to approach AI with a clear framework in place.”

Corey highlighted that AI should enhance, not replace, human decision-making.

“The goal isn’t to automate everything, it’s to free up finance professionals to focus on what they do best: strategy and innovation.”

The future of AI in finance

Looking ahead, both Corey and Glenn see the future of AI as a collaborative space between humans and technology.

Glenn shared his vision:

“The future of finance is data-driven. We’ll see AI becoming a trusted partner in financial planning, helping teams unlock valuable insights and hit their financial performance targets more effectively.”

Corey added:

“Whether you’re a startup or a major enterprise, the key is to start small and scale as you see the benefits of AI. That’s how we’ve approached it at Cardata—investing in the right tools and training our teams to use them effectively.”

Practical tips for leveraging AI in finance

Start with clean data 

AI is only as good as the data it processes. Build a robust data infrastructure.

Invest in training

Equip your team with the skills to work alongside AI technologies.

Partner strategically

Work with fintech providers who understand your needs and can offer customized ai-powered solutions.

Conclusion

The finance industry is only beginning to tap into the full potential of AI. By integrating AI algorithms and machine learning, businesses can achieve more accurate financial planning, streamline operations, and minimize risks.

If you’re curious about how Cardata can help your team leverage AI to improve financial performance, contact us today. Or, check out the full podcast wherever you listen for more on the future of AI in corporate finance.