Author: fintamo
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AI Hallucinations: What They Are and How to Prevent Them
AI hallucinations occur when AI generates incorrect or fabricated information due to training data limitations or probabilistic modeling. While harmless in creative contexts, they pose risks in finance, law, and healthcare. To reduce hallucinations, Retrieval-Augmented Generation (RAG) integrates real-time data, prompt engineering refines queries, human verification ensures accuracy, and AI cross-validation detects inconsistencies.
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Emails in AR Departments
Email in AR B2B Communication In B2B, AR teams use email for: In fact, email remains the mainstay of communication with customers. And this trend shows no signs of slowing. According to research by Radicati (radicati.com), annual business email volume is projected to grow by 3% per year. Email’s versatility and familiarity make it indispensable…
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Sabrina will be upgraded soon
We’ve all experienced the frustration of dealing with digital customer assistants. More often than not, they come with cheerful, typically female names—like “Sabrina”—and are designed to help streamline our inquiries (and save lots of money). However, their assistance often falls short. They frequently misunderstand your requests, provide generic responses, and eventually force you to repeat…
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AI in Accounting
Many people talk about artificial intelligence, and there is a growing usage of language based tools, such as OpenAI’s chatgpt also in the finance domain. But how do these innovations deliver true value for the highly structured world of finance? Finance isn’t just about crunching numbers. It involves managing large volumes of unstructured data, customer…
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AI in finance – just a hype?
In the world of corporate finance, AI is like the superhero we didn’t know we needed. Sure, it comes with a lot of hype—think of it as the Iron Man of finance, flashy but also incredibly powerful. While some might get lost in the buzzwords like “machine learning” and “predictive analytics,” the true value of…
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AI in Payables for mid-sized corporations
If you are working in a mid-sized business, you know that managing finances can be a bit like juggling—lots of moving parts, and it easy to drop one. And if you do, it can cause a real headache. One area where this juggling act is especially tricky is in accounts payable (AP). From processing invoices…
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AI Applications Driving Efficiency in Corporate Treasury
Corporate treasury functions are critical in managing an organization’s financial health. They oversee cash flow, risk management, investments, and financing. As businesses face increasing complexity in these areas, AI has emerged as a transformative tool, offering advanced solutions that enhance efficiency, decision-making, and strategic planning. Here are four key AI application areas you need to…
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AI: A Practical Guide for Smaller Corporates
For smaller corporates, the idea of adopting artificial intelligence (AI) can be daunting. Unlike tech giants or large corporations with dedicated research teams, smaller firms aren’t looking to invent the next groundbreaking AI technology. Instead, their focus is on using existing tools to streamline operations, enhance decision-making, and ultimately, improve the bottom line. But how…
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Cash Application: Just the Thing for AI?
Cash application is one of those processes that seems ripe for automation using AI. It involves matching incoming (and outgoing) payments—whether through bank statements, payment advices, or lockboxes—with the correct invoices. Traditionally, this task is handled by a series of rules-based automations designed to automate the matching process, reducing manual effort and increasing efficiency. The…
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Lisa or AI?
“Hello, this is Lisa. It looks like you still have $21000 in invoices open. When will you settle this?” Given recent progress in generative AI, would you be much surprised if Lisa was not a human but an AI? While AI-driven impersonation offers potential benefits in various industries, such as customer service and financial processes…