Artificial intelligence (AI) is rapidly transforming the way we live and work. The year 2023 was a turning point in the world of artificial intelligence (AI), as this technology transitioned from a futuristic idea to an indispensable tool for both businesses and individuals.
It witnessed a surge of revolutionary advancements that pushed the limits of AI's potential, reshaping industries and influencing the future of society. Looking ahead to 2024, we can expect further advancements that build upon these achievements, promising even greater efficacy and efficiency.
In the year 2024, the generative AI revolution is surging ahead at an unprecedented pace. OpenAI, the mastermind behind ChatGPT, will probably unveil ChatGPT-5, a successor model that promises even greater capabilities. Microsoft, a key player in the AI landscape, has solidified its partnership with OpenAI, while Google has embarked on its own transformative journey into conversational AI with the launch of Gemini, their most formidable AI model to date.
In finance, banks and financial services companies continue utilizing AI for loan due diligence reviews, customer verification, and invoice processing, and AI is having a tremendous impact on many other business processes in this field, including the order-to-cash cycle.
But despite sky-high expectations for AI, CFOs are still in learning mode when it comes to successfully implementing AI.
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