Generative Artificial Intelligence in Finance: Large Language Models, Interfaces, and Industry Use Cases to Transform Accounting and Finance Processes (Fintech in a Sustainable Digital Society)

This comprehensive volume delves deep into the diverse applications and implications of generative AI across accounting, finance, economics, business, and management, providing readers with a holistic understanding of this rapidly evolving landscape.Generative Artificial Intelligence in Large Language Models, Interfaces, and Industry Use Cases to Transform Accounting and Finance Processes provides a comprehensive guide to ethically harnessing generative AI systems to reshape financial management. Generative AI is a key theme across the accounting and finance sectors to drive significant optimizations leading to sustainability. Across 22 chapters, leading researchers supply innovative applications of large language models across the economic realm. Through detailed frameworks, real-world case studies, and governance recommendations, this book highlights applied research for generative AI in finance functions. Several chapters demonstrate how data-driven insights from AI systems can optimize complex financial processes to reduce resource usage, lower costs, and drive positive environmental impact over the long term. In addition, chapters on AI-enabled risk assessment, fraud analytics, and regulatory technology highlight applied research for generative AI in finance. The book also explores emerging applications like leveraging blockchain and metaverse interfaces to create generative AI models that can revolutionize areas from carbon credit trading to virtual audits. Overall, with in-depth applied research at the nexus of sustainability and optimization enabled by data science and generative AI, the book offers a compilation of best practices in leveraging AI for optimal, ethical, and future-oriented financial management.AudienceThe audience for this book is quite diverse, ranging from financial and accounting experts across banking, insurance, consultancies, regulatory agencies, and corporations seeking to enhance productivity and efficiency; business leaders want to implement ethical and compliant AI practices; researchers exploring the domain of AI and finance.