Name: The ROI of AI in finance: A comprehensive approach | 2024 The MindBridge Conference
Start: 2024-10-07T13:38:00Z
End: 2024-10-07T13:38:58.000Z
Location: BrightTALK
Rating: 0

. We help audit and finance professionals automate analysis of every transaction and focus on unusual activity.

The British Post Office scandal, widely regarded as the most extensive miscarriage of justice in U.K. legal history, saw over 3,500 sub-postmasters and postmistresses wrongfully accused of theft, false accounting, and fraud between 1999 and 2015. The root cause? Errors in the Horizon accounting software, not the actions of those accused. This session will explore how effective anomaly detection could have prevented this tragedy and discuss the role of artificial intelligence in safeguarding even the most complex systems from similar failures.

Learning objectives:

1) Understand the critical value of anomaly detection and how its application could have prevented the British Post Office scandal.

2) Learn how to leverage artificial intelligence to enhance anomaly detection and fortify complex systems against failures.

3) Master the effective use of detective controls when implementing new IT systems to prevent similar issues.

How anomaly detection may have prevented the British Post Office Scandal Watch on-demand | 2024 TMC

The accounting, tax, and assurance profession is undergoing unprecedented transformation due to rapid technological advancements, changing professional standards, and evolving methodologies. As professionals, it’s not just about adapting to these changes but leading them within your organization.

Join us for an insightful session where we will explore the realities of change management in our industry. Through real-life stories and examples, we’ll address common obstacles encountered during change initiatives and offer strategies to overcome them. You’ll also be introduced to a practical framework that can help you manage and implement change effectively within your organization. Whether you’re dealing with new technology adoption or process reengineering, this webinar will provide you with the tools and confidence to drive change and stay ahead in the profession.

Learning objectives:

1) Recognize the importance of staying ahead of industry trends and demands, while positioning your organization as a leader.

2) Identify strategies for managing change that preserve staff morale and engagement.

3) Apply a structured framework for successfully managing and implementing change initiatives.

Embrace the impact: Strategies for handling change management | 2024 The MindBridge Conference

Join us for an engaging fireside chat with Badal Patel, Head of Data Analytics and Innovation at Meta, as we delve into how the tech giant is revolutionizing its internal audit processes. This session will explore the strategies and technologies Meta is deploying to transform its audit function into a forward-thinking, value-driven powerhouse. Discover how Meta leverages cutting-edge tools like Artificial Intelligence to boost audit efficiency, generate strategic insights, and maintain robust risk management in a rapidly evolving digital landscape. Gain valuable perspectives on the future of internal auditing and practical takeaways for innovating your own audit practices.

Learning Objectives

1) Understand Innovative Technologies in Internal Audit: Gain insights into how Meta is integrating AI and advanced analytics into their internal audit processes to enhance accuracy, efficiency, and risk assessments.

2) Explore Proactive Auditing Strategies: Learn about Meta’s approach to shifting from a reactive to a proactive audit function, including methods to identify and address potential risks before they escalate.

3) Apply Best Practices to Your Organization: Discover actionable strategies and best practices from Meta’s experience that you can apply to innovate and improve your own internal audit processes.

The next generation of internal audit: How Meta is innovating with technology | 2024 The MindBridge Conference

Explore how artificial intelligence can revolutionize collaboration and communication across the three lines of defense in our breakout session focused on breaking down silos. Discover AI-driven strategies that empower risk management, compliance, and internal audit functions to work together seamlessly, ensuring robust governance and enhancing organizational resilience.

Learning objectives:

1) Understand AI’s role in enhancing collaboration across the Three Lines of Defense

2) Identify AI strategies for seamless integration into accounting, compliance, and audit functions

3) Explore how Machine Learning enhances oversight through 100% data analysis

Bridging the gap across the three lines of defense | 2024 TMC

The vision of Continuous Auditing (CA) and Continuous Monitoring (CM) has been around for decades, but various challenges have historically prevented or limited the full implementation of a CA/CM strategy. However, the landscape has dramatically changed and continues to evolve rapidly, making the vision of continuous auditing more achievable than ever. This session will explore the history, challenges, and roadblocks that previously hindered CA/CM, as well as provide insights into the current state and the future of these essential practices.

Learning objectives:

1) Understand the concepts of continuous auditing (CA) and continuous monitoring (CM), including the differences between the two and their interrelationship.

2) Learn about the historical challenges and limitations related to the implementation of CA and CM.

3) Explore the benefits of CA and CM, including how they can enhance efficiency, reduce risk, and provide real-time insights.

4) Discover the technologies that are enabling CA/CM and examine the evolving challenges in this landscape.

5) Understand how the landscape has changed over the past few years to allow for the realization of Continuous Auditing and Continuous Monitoring.

Embracing the future: The evolution and impact of continuous auditing and monitoring in a Digital Age | 2024 TMC

CFOs and Finance teams will be in the driver’s seat in the 5th Industrial Revolution according to Gartner. This has been validated by the latest research from AICPA-CIMA that says we can expect rapid and highly accelerated changes across industries, including accounting and finance. In other words, the waves of transformation are getting bigger and coming faster. To succeed in this rapidly evolving landscape, accounting and finance professionals must learn how to ride these big waves of transformation. 

This session will cover the latest trends and issues and the new mandate for finance and accounting pros to move into a proactive role as the ‘Chief Future Officer’, becoming a value partner to the business. The key to this emerging role lies in the mindsets, skillsets and toolsets required to ride these big waves. We will cover the latest research and resources along with practical examples from our Future of Finance Leadership Advisory Group. You will learn how to apply these insights to redefine and reinvent your finance operation and career to thrive in the Next Normal, Now!

Learning Objectives:

1) Gain an understanding of the latest trends facing finance and accounting teams.

2) Develop a deeper understanding of the role that technology plays in enhancing the effectiveness of finance teams and the need to develop new skills, capabilities, and mindsets to maximize the benefits of digital tools.

3) Evaluate the effectiveness of their current talent management strategies and develop a talent game plan that aligns with the changing needs of their business.

Riding the waves of transformation | 2024 The MindBridge Conference

This session will show how Responsible AI can turn concerns about ethics, security, and “black box” fears into opportunities for innovation within any enterprise. By using an Outcome-Driven Approach, we’ll discuss how AI can be responsibly integrated to enhance productivity and drive meaningful change. We’ll also explore the trust dynamics between major tech companies like Microsoft and innovators like OpenAI, and how small, focused innovations can empower businesses to move forward with confidence.

Learning objectives:

1) Learn how to turn AI concerns into opportunities for innovation.

2) Apply the Outcome-Driven Approach to integrate AI for enhanced productivity.

3) Explore trust dynamics in AI and leverage small, focused innovations for success.

From fear to innovation: Harnessing responsible AI for growth | 2024 The MindBridge Conference

Join us for an insightful webinar on “Data-Driven Decision Making in Finance GRC Using AI,” presented in collaboration with MindBridge.ai and GRC 20/20’s Michael Rasmussen. In today’s complex financial landscape, organizations must navigate the intricate interplay of governance, risk management, and compliance (GRC). Finance GRC is the capability to reliably achieve the organization’s financial objectives , address uncertainty in achieving those objectives , and act with integrity in pursuit of those objectives.  

This webinar will dive into the transformative power of artificial intelligence (AI) in the realm of Finance GRC. Key topics include: 

- Leveraging AI for Data Analysis in GRC. Discover how AI technologies can analyze vast amounts of financial data, providing organizations with unparalleled accuracy and efficiency in detecting anomalies, assessing risks, and ensuring compliance. 
- Enhancing Decision-Making with AI-Driven Insights. Learn how AI-generated insights can empower finance professionals to make informed decisions with greater speed and confidence. We will explore real-world examples of AI applications in finance that have led to improved risk management, compliance, and overall financial performance. 
- Implementation Best Practices and Success Stories. Gain practical knowledge from industry experts on best practices for implementing AI in your finance GRC processes. Hear success stories from organizations that have successfully integrated AI into their GRC frameworks, achieving significant improvements in efficiency, accuracy, and strategic decision-making. 

This webinar is essential for finance leaders, GRC professionals, and anyone interested in harnessing the power of AI to drive data-driven decision-making in their financial operations. Don’t miss this opportunity to stay ahead of the curve and elevate your organization’s GRC capabilities with AI.

Data-driven decision making in finance GRC using AI

With AI taking center stage, internal auditors must adapt to new tools and techniques to remain effective and relevant. This panel will provide comprehensive insight for internal auditors looking to thrive in this environment. The discussion will cover the skills and knowledge required to work with AI, the impact of AI on audit processes, and ways AI can enhance decision-making and fraud detection.

Experts will share experiences, best practices, and practical advice on how to embrace AI technologies. Attendees will gain the insights needed to leverage AI for improved audit outcomes, efficiency, and proactive risk management. 

Key Topics:
- The critical AI skills that every internal auditor needs to master 
- The profound impact of AI on traditional internal auditing processes 
- How AI enhances decision accuracy and is revolutionizing fraud detection

The internal auditor’s guide to thriving in an AI-driven world

As the pace of technology accelerates and the complexity of regulatory environments increases, the demand for adaptive, continuous oversight has never been more critical. 

Join internal audit experts Harold Silverman, Senior Director, Audit Committee and Corporate Governance Engagement at the Institute of Internal Auditors (the IIA), and Ernest Anunciacion, Head of Product Marketing, and former Chief Audit Executive (CAE) for a deep dive into considerations that internal auditors must take to be AI-ready. In this session, they will discuss how AI-powered risk intelligence platforms are reimagining expectations for the next era of auditors from traditional compliance activities to a more dynamic, strategic function that drives significant organizational value. 

Key Topics 

- Practical AI Applications: Learn about the considerations internal auditors have around implementing AI as part of their methodologies as well as auditing their organizations usage of such technologies. 
- Advanced Risk Intelligence: Dive into how AI integration redefines internal audit processes, boosting efficiency and adding strategic value beyond traditional compliance. 
- Delivering Organizational Value: Learn how risk intelligence platforms leverage AI to provide continuous monitoring of financial transactions, enabling auditors to proactively manage risks and enhance decision-making capabilities.

How AI Evolves Internal Audit’s Strategic Impact

Use data-driven risk scoring to detect internal control and process anomalies

Never-ending corporate failures, accounting scandals, and a shifting regulatory landscape, means that the importance of having an effective control environment has never been more important.

Whether you are looking to support your business and compliance objectives through a “Year 1” build, control monitoring or testing, or transforming/improving your existing control environment, there should always be a focus on optimising the effectiveness and efficiency of your internal controls framework.

This webinar will focus on:

- What is data-driven risk scoring?
- How can I use data-driven risk scoring to optimize my internal controls framework?
- The value of scoring 100% of your transactions 
- Generate internal control and process insights.

After this webinar, you will come away with an understanding of how to score 100% of your transactions.

AI powered risk scoring to optimize your internal controls framework

Earlier this year KPMG and MindBridge announced a strategic alliance to help bring advanced artificial intelligence (AI) into KPMG member firms’ digital audits around the world. KPMG’s smart audit platform, KPMG Clara, now uses MindBridge’s technology to help unleash the power of AI into audits, further enabling the identification of unexpected or high-risk transactions and helping to provide enhanced audit quality.

During this session, Sebastian Stöckle KPMG’s, Global Head of Audit Innovation, will share KPMG’s vision of the future of audit.

KPMG's Vision for Future of Audit | MindBridge Edge

Internal Control over Financial Reporting (ICFR) continues to be a key focus for international and regional regulators, and a critical part of the Chief Financial Officer (CFO) responsibilities to ensure that financial statements are accurate and free from material misstatement. As the cost of compliance (and non-compliance) reaches new heights and the complexity to curate insights from the vast volumes of data from the digitization of finance functions increases, many organizations are now taking a serious look at how Artificial Intelligence (AI) can improve their internal control frameworks. This session will cover specific examples of where AI can be used in ICFR.

AI for Internal Controls over Financial Reporting | MindBridge Edge

Align Technology is a global medical device company that is changing lives through better smiles. We reimagine and reinvent the way orthodontic and restorative treatment is presented and delivered to millions of people around the world.

This session will be a fireside chat with key employees that have built a state-of-the-art internal audit department that is valuable to the rest of the organization.

A Fireside Chat with Align: Internal Audit Department Success | MindBridge Edge

Over several years, Chevron has invested significantly in data infrastructure, human capital, and algorithm development to understand their data-driven business. Though progress was made, it wasn’t until Chevron met MindBridge.ai at the Gartner CFO Conference in 2022 that they discovered a truly scalable technology, delivering meaningful insights into financial operations. 

Attend this session to learning how MindBridge has unlocked Chevron’s data landscape, helped prioritize high-risk business processes, and minimized unknown financial risks.

AI-Powered Financial Data Discovery at Chevron | MindBridge Edge

Add focus to business segments and revenue drivers.

Many factors must be considered when evaluating financial data. With pressure on businesses to do more with less, financial professionals must consider advanced technologies to help mitigate risk across the volumes of financial data.  

Segment analysis augments the financial professional’s ability to understand and identify areas of the business that pose greater risk and complexity.  Breaking down these segments supports an emphasis on high-value tasks due to an increased focus on anomalous or unusual events within the business segments. 

Further, the disaggregation of revenue into categories assists financial professionals in understanding the nature of the entity’s revenue and where it was derived. This can be related to types of goods or services, geographical region, sales channels, and more. The understanding of these categories is important to create transparency; however, the financial professional should also understand the impact of how anomalies in the transactional detail impact these particular areas.

This webinar will focus on:

- Building a deeper understanding of the business using segment analysis
- The impact of anomalous or unusual activity in the business
- How anomaly detection adds focus to segment analysis and disaggregated revenue

At the completion of this session, attendees have a better understanding of how anomaly detection can help improve segment and disaggregated revenue analysis.

Slice and dice with ensemble AI: segment and disaggregated revenue analytics

Understanding anomalous payroll transactions.

Payroll transaction files are notoriously hard to analyze and contain some of the most sensitive information within an organization which means the resources to analyze this data are scarce. This webinar will cover what kinds of anomalies can be detected in payroll payment transaction files and the use cases within a commercial enterprise or by an audit firm.

This webinar will focus on:

- What is ensemble AI / anomaly detection
- What is knowable from payroll data files
- Sample use cases – identifying the unknown

Join this webinar and come away with a better understanding of how payroll payment transaction data anomaly detection can surface the unknown in your organization.

Payroll anomaly detection using AI

2024 The MindBridge Conference

In the presentation, Glenn Hopper, Head of AI Research & Development at Eventus Advisory Group, and Matthias Steinberg, CFO of MindBridge, will explore how AI, Machine Learning (ML), Deep Learning, and Generative AI are transforming finance and auditing. This session will cut through the AI hype, showcasing real-world applications that deliver measurable business value. Attendees will gain valuable insights into successful AI project implementation, calculating ROI, and effectively integrating AI into financial workflows to drive innovation and growth.

Learning Objectives

1) Understand AI Fundamentals: Define key AI concepts and their relationships, and recognize how AI, ML, Deep Learning, and Generative AI are applied in finance and auditing.

2) Evaluate AI Impact and ROI: Learn how to assess the business value of AI projects, including calculating ROI and understanding the challenges of quantifying intangible benefits.

3) Implement AI in Finance: Identify best practices for integrating AI into financial processes, including managing change, fostering a culture of innovation, and measuring long-term success.

The ROI of AI in finance: A comprehensive approach | 2024 The MindBridge Conference

Business Intelligence

Digital Transformation

Machine Learning

Generative AI

Finance Directors

Financial Management

Financial Planning

Enterprise applications have become a crucial piece of infrastructure for many businesses. The enterprise applications community on BrightTALK features the latest insights in enterprise application integration, enterprise application architecture and EAS software. Join the community to gain access to thousands of videos and webinars presented by recognized enterprise information systems experts and arm yourself with the knowledge you need to succeed.

Enterprise Applications

Join thousands of engaged IT professionals in the application management community on BrightTALK. Interact with your peers in relevant webinars and videos on the latest trends and best practices for application lifecycle management, application performance management and application development.

Application Management

As an IT professional, many of the problems you face are multifaceted, complex and don’t lend themselves to simple solutions. The information technology community features useful and free information technology resources. Join to browse thousands of videos and webinars on ITIL best practices, IT security strategy and more presented by leading CTOs, CIOs and other technology experts.

Information Technology

Get powerful finance insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge that will help you to determine which financial factors build or erode value in your organization.

Finance

Get powerful finance management insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge that will help you to determine which financial factors build or erode value in your organization.

CFO Strategy

The accounting and finance community on BrightTALK features presentations from leading accountants and finance professionals. The accounting community includes tax planning strategies, QuickBooks webinars and other accounting webinars, while the finance community features presentations on financial capital regulations and forensic data analytics. Join the conversation by attending live financial and accounting presentations and connecting with industry thought leaders.

The ROI of AI in finance: A comprehensive approach | 2024 The MindBridge Conference

Presented by

About this talk

More from this channel