Embracing AI: the shift to a future-oriented mindset

Tip Sheet

From reactive historical data to proactive and prescribed actions
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It’s time to leverage the transformative potential of AI and data analytics

In today's fast-paced and ever-evolving financial landscape, you face a myriad of challenges as a finance professional. To stay ahead and make informed decisions, it is imperative to embrace the transformative potential of AI and data analytics. These technologies can revolutionize your decision-making processes, provide valuable insights, predict outcomes, and prescribe proactive actions.

By leveraging AI and advanced analytics, you can shift from a retrospective approach to a future-oriented mindset, enabling you to base your decisions on real-time information rather than relying solely on historical data.

Retrospective approach Future-oriented mindset
Reactive Proactive prescribed actions
Report on current state Predictive analytics
Rear-view mirror decisions Power alternate decisions
"AI is going to have an even bigger impact on humanity than the internet or mobile. We at Billtrust are leading the way in using it to help our customers get paid faster, run more efficiently and get deeper insights into their business than ever before. I am excited about the innovations that the team is working on and how it is going to change our industry."Sunil Rajasekar, CEO Billtrust
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The relationship between AI, machine learning and deep learning

Machine learning and deep learning are both types of AI. Machine learning is AI that can automatically adapt with minimal human interference. Deep learning is a subset of machine learning that uses artificial neural networks to mimic the learning processes of the human brain.

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Artificial Intelligence

Makes computers think and act like humans.

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Machine learning

Lets computers perform tasks without explicit programming (algorithms).

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Big data

Without vast datasets, no AI is possible.

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Data science

Draws on AI, ML and statistical techniques. Focus on big data.

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Deep learning

Multilayered Neural Networks learn from vast amounts of data. Drives a lot of rapid changes today, including generative AI.

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Embracing AI tip sheet

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