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Review Article Open Access December 27, 2022

Integrating generative AI into financial reporting systems for automated insights and decision support

Harish Kumar Sriram 1,*
1
Senior Software Engineer, Equifax, USA
Publihed in: Current Research in Public Health (Volume 2, Issue 1, 2022)
Page(s): 115-131
DOI: 10.31586/ujfe.2022.1299
Received
September 29, 2022
Revised
October 27, 2022
Accepted
November 29, 2022
Published
December 27, 2022
Keywords
Generative AI; Deep Learning; Financial Reporting System; Corporate Performance; Liquidity Analysis; Solvency Assessment; Profitability Metrics; Organizational Structure; Share Buyback; What-If Analysis; Strategic Decisions; Tactical Decisions; Capital Budgeting; Profit Distribution; Automated Insights; User Requests; National Financial Reporting; Central Bank Systems; Accounting Standards; Integrated Analytics
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright: Copyright © The Author(s), 2022. Published by Scientific Publications
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APA Style
Sriram, H. K. (2022). Integrating generative AI into financial reporting systems for automated insights and decision support. Current Research in Public Health, 2(1), 115-131. https://doi.org/10.31586/ujfe.2022.1299
ACS Style
Sriram, H. K. Integrating generative AI into financial reporting systems for automated insights and decision support. Current Research in Public Health 2022 2(1), 115-131. https://doi.org/10.31586/ujfe.2022.1299
Chicago/Turabian Style
Sriram, Harish Kumar. 2022. "Integrating generative AI into financial reporting systems for automated insights and decision support". Current Research in Public Health 2, no. 1: 115-131. https://doi.org/10.31586/ujfe.2022.1299
AMA Style
Sriram HK. Integrating generative AI into financial reporting systems for automated insights and decision support. Current Research in Public Health. 2022; 2(1):115-131. https://doi.org/10.31586/ujfe.2022.1299 
@Article{crph1299,
AUTHOR = {Sriram, Harish Kumar},
TITLE = {Integrating generative AI into financial reporting systems for automated insights and decision support},
JOURNAL = {Current Research in Public Health},
VOLUME = {2},
YEAR = {2022},
NUMBER = {1},
PAGES = {115-131},
URL = {https://www.scipublications.com/journal/index.php/UJFE/article/view/1299},
ISSN = {2831-5162},
DOI = {10.31586/ujfe.2022.1299},
ABSTRACT = {Generative AI refers to deep learning technology that can automatically produce original text, images, audio, video, and other outputs. With its emerging capabilities, Generative AI can radically change the dynamics of key operational processes in most industries. In this document, we illustrate how it is possible to integrate Generative AI technologies into the Financial Reporting System (FRS) of a corporation. The integration will allow the FRS to deliver on demand concise and lucid insights to its associated users on what is happening in the corporation and different aspects of the corporation performance assessment, such as its liquidity, solvency, profitability, organizational structure, and share buy back decision. The integration will also facilitate the delivery of what-if analyses associated with different strategic and tactical decisions taken by the corporation management, such as capital budgeting and profit distribution decisions. The unique added value of several attributes of these insightful analytics is automating the responses to ongoing requests of the FRS users on the corporation. Generative AI capabilities are rapidly expanding. The integration can be applied not only for the corporate FRS but any FRS at the national or global levels delivered by a central bank or an accounting standards setter. Any of these FRS can be made into a unique “hub” for the integrated Generative AI technologies. An equally innovative possible generalized integration could put any corporate process at the center and its supporting FRS tasks and deliverables in its periphery.},
}
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%M doi:10.31586/ujfe.2022.1299
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AB  - Generative AI refers to deep learning technology that can automatically produce original text, images, audio, video, and other outputs. With its emerging capabilities, Generative AI can radically change the dynamics of key operational processes in most industries. In this document, we illustrate how it is possible to integrate Generative AI technologies into the Financial Reporting System (FRS) of a corporation. The integration will allow the FRS to deliver on demand concise and lucid insights to its associated users on what is happening in the corporation and different aspects of the corporation performance assessment, such as its liquidity, solvency, profitability, organizational structure, and share buy back decision. The integration will also facilitate the delivery of what-if analyses associated with different strategic and tactical decisions taken by the corporation management, such as capital budgeting and profit distribution decisions. The unique added value of several attributes of these insightful analytics is automating the responses to ongoing requests of the FRS users on the corporation. Generative AI capabilities are rapidly expanding. The integration can be applied not only for the corporate FRS but any FRS at the national or global levels delivered by a central bank or an accounting standards setter. Any of these FRS can be made into a unique “hub” for the integrated Generative AI technologies. An equally innovative possible generalized integration could put any corporate process at the center and its supporting FRS tasks and deliverables in its periphery.
DO  - Integrating generative AI into financial reporting systems for automated insights and decision support
TI  - 10.31586/ujfe.2022.1299
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