Category: Technology

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.

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…

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…

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…

Artificial Intelligence (AI) is here to stay, transforming how companies manage everything from operations to customer interactions. But should corporate finance departments take the lead in developing their own proactive AI strategy, or should this be managed by the IT department or through external suppliers? The Case for IT Departments and Suppliers Traditionally, AI strategy…

Accurately retrieving the data from multiple corporate documents such as invoices, payment advices, and delivery notes is the basis for automating the processes that follow. Generative AI is setting a new standard here, surpassing traditional machine learning (ML) techniques. Enhanced Accuracy with Minimal Manual Intervention Generative AI offers unparalleled accuracy by understanding the context and…