The finance sector is undergoing a seismic shift, driven by the relentless march of artificial intelligence (AI). As AI transforms the industry’s landscape, professionals who fail to adapt risk will be left behind, said accounting manager at Wasabi Technologies, Amrita Choudhary, during a recent virtual interaction session with finance freshers in the city for academic year 2024-25.
During this session, Choudhary outlined the urgent need for professionals to enhance their AI and accounting expertise to remain relevant in this rapidly evolving field. A Chartered Accountant from ICAI, Choudhary is not only a professional but also a leader, mentor, and advocate for solving data analysis challenges. Her expertise in auditing, accounting, and internal controls is well-recognised.
“AI is no longer just a buzzword. It’s transforming how businesses operate. Whether it’s automating routine tasks, enhancing financial analysis, or detecting fraud with greater precision, AI is rapidly becoming an integral part of financial services. According to a report by McKinsey, AI has the potential to automate up to 45% of finance tasks, making upskilling crucial for professionals,” said Choudhary.
She advised the freshers to stay ahead of the curve and future-proof their careers. She said that finance professionals could take up online courses, attend webinars with industry leaders, attend AI bootcamps, collaborate and share knowledge within AI-focused communities.
“While India’s financial institutions are indeed adopting AI, it is also essential to provide accurate context. Some of the key areas that Indian financial institutions are adopting AI for include, fraud detection and prevention, customer service chatbots, algorithmic trading, risk management among others,” said Choudhary.
By sharing her insights with finance newcomers, Choudhary emphasised the critical role AI would play in their future success. “It’s clear that upskilling in AI and accounting is no longer optional; it’s essential for survival and growth in the finance sector,” she concluded.
