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Artificial intelligence can help shave off hours of time when it comes to previously manual tasks, such as scenario planning or financial modeling. But as finance employees begin to rely more heavily on AI, it's crucial for finance employees to understand its inner workings — meaning "the CFO needs to have a whole set of processes in place around governance and ethics" when it comes to AI, according to Ian Schnoor, executive director of the Financial Modeling Institute.
The FMI offers a global program for financial modeling accreditation, a discipline where AI is becoming more entrenched. At the moment, many companies are still in the early days of adopting the technology, and "do not have strong disclosures or guidelines yet around AI," Schnoor told CFO Dive. "But if I was a CFO, I would want a policy to know exactly, how was AI used in this process?"
Schnoor, who began his career as an investment banker at Citibank, has served as executive director for the Toronto, Canda-based institute since 2016, according to his LinkedIn profile.
He also serves as an adjunct professor for the Smith School of Business at Queen's University in Toronto, Canada. Before FMI, he served as founder and president for the Marquee Group, a financial modeling training provider he sold to Training the Street in March of 2023.
#financial #toronto #institute #daily
Artificial intelligence can help shave off hours of time when it comes to previously manual tasks, such as scenario planning or financial modeling. But as finance employees begin to rely more heavily on AI, it's crucial for finance employees to understand its inner workings — meaning "the CFO needs to have a whole set of processes in place around governance and ethics" when it comes to AI, according to Ian Schnoor, executive director of the Financial Modeling Institute.
The FMI offers a global program for financial modeling accreditation, a discipline where AI is becoming more entrenched. At the moment, many companies are still in the early days of adopting the technology, and "do not have strong disclosures or guidelines yet around AI," Schnoor told CFO Dive. "But if I was a CFO, I would want a policy to know exactly, how was AI used in this process?"
Schnoor, who began his career as an investment banker at Citibank, has served as executive director for the Toronto, Canda-based institute since 2016, according to his LinkedIn profile.
He also serves as an adjunct professor for the Smith School of Business at Queen's University in Toronto, Canada. Before FMI, he served as founder and president for the Marquee Group, a financial modeling training provider he sold to Training the Street in March of 2023.
#financial #toronto #institute #daily
2 months ago
