Author: nripn

AI Adoption in Enterprise Finance: A Year of Steady Growth The adoption of artificial intelligence (AI) in enterprise finance teams remains on par with anticipated trends for 2024, despite escalating optimism surrounding the technology. This insight was revealed in a recent survey conducted by Gartner. Current Adoption Statistics In the survey of 183 CFOs and senior financial leaders, 59% reported utilizing AI in their departments, a slight increase from 58% the previous year. While overall adoption within the finance function is progressing at a slower pace, 67% of those employing AI expressed greater optimism about its potential compared to the…

Kaaj Secures $3.8 Million Seed Funding for Small Business Lending Kaaj, a pioneering credit intelligence platform utilizing Agentic AI, announced on Wednesday its successful round of seed funding, raising $3.8 million. The funding was led by Related Companies, with additional contributions from Better Tomorrow Ventures among others. Foundation and Mission Founded in 2024 by the husband-wife team of Utsav Shah and Shivi Sharma, Kaaj aims to democratize access to affordable capital for small businesses. The startup employs agentic AI workflows designed to assist lenders in thoroughly analyzing loan packages while developing analytics for small business financing and mitigating costs. Revolutionizing…

The Growing Trust in AI-Driven Audit Solutions Among Financial Executives In today’s fast-paced financial landscape, the demand for innovative audit solutions has surged, particularly those that utilize artificial intelligence (AI) and other advanced technologies. Financial executives are increasingly prioritizing audit firms that enhance their offerings through cutting-edge tech, reflecting a notable increase in confidence in these solutions. Survey Insights: Willingness to Invest in Advanced Technologies BDO’s recent Audit Innovation Survey reveals that an overwhelming 97% of financial executives are willing to pay a premium to engage with audit firms that employ state-of-the-art technology. This statistic underscores a significant trend in…

Türkiye’s New Initiative to Boost Fintech Startups A groundbreaking initiative has been launched in Türkiye to elevate local fintech startups onto the global stage. Dijitalpark Teknokent, a prominent technology development zone, has introduced FINEXT 2025, an accelerator program specifically designed to cultivate the country’s next generation of fintech innovators and potential unicorn companies. Nurturing High-Growth Fintech Businesses The FINEXT program encompasses a rigorous 14-week journey tailored for entrepreneurs eager to bring their innovative ideas to fruition. Participants will benefit from a robust support framework aimed at fast-tracking their growth. This includes specialized mentorship, mini-MBA training sessions, direct interactions with potential…

Which? Warns Consumers About Relying on AI Chatbots for Financial Advice Consumer advocacy group Which? has issued a cautionary statement urging UK adults to exercise increased caution when seeking financial advice from AI-powered chatbots. This warning comes in light of new research highlighting the growing dependence on these digital tools for financial information. Trust Levels Among AI Chatbot Users Recent survey results from Which? reveal that approximately 50% of adults in the UK express a ‘great’ or ‘reasonable’ level of trust in the information provided by AI chatbots. Notably, this figure climbs to a substantial two-thirds among individuals who frequently…

Pulse: Empowering AI Startups in the Financial Sector ThinKuvate and SanchiConnect have joined forces to introduce Pulse, an innovative accelerator program designed to support early-stage startups harnessing AI to tackle challenges within the financial industry. This initiative aims to foster technological advancements that can revolutionize financial services. A Focus on Early-Stage AI Startups Based in Singapore, ThinKuvate is an early-stage venture capital firm that specializes in deeptech ecosystems. The Pulse program will focus on identifying and mentoring 4 to 6 early-stage startups that are utilizing artificial intelligence to address real-world problems in finance. This targeted approach emphasizes quality over quantity,…

Transforming Payroll Systems with Digital Currencies The era of digital currencies is upon us, and it’s time to consider how they will revolutionize payroll systems. Fintech startups are swiftly adopting this trend, harnessing the advantages of altcoins to create payroll solutions that are not only faster and more efficient but also compliant with existing regulations. Central to this transformation are stablecoins, which are redefining how businesses compensate their employees and contractors. Advantages of Stablecoins in Payroll Leading the charge in this transformative landscape are stablecoins such as USDC and USDT. These digital currencies mitigate volatility, enabling quick and inexpensive cross-border…

The Dual Role of AI in Cybersecurity In the rapidly evolving world of cybersecurity, Artificial Intelligence (AI) both aids and challenges security measures. As highlighted by cybersecurity expert Benoit Desjardins during the recent HIMSS Virtual Forum on AI and Cybersecurity, there is a continuous struggle between attackers leveraging AI for malicious intent and defenders striving to protect sensitive information. The Cybersecurity Battlefield Desjardins, a former hacker turned expert, notes that cybersecurity professionals face an average of two breaches per day, often targeting personal health information. Once cybercriminals infiltrate a network, they can extract valuable data with alarming speed—most hackers can…

On November 12, the Burridge Center for Finance held a pivotal event titled NextGen Finance: Tech Innovation in Financial Services, convening industry leaders to discuss the launch of startups amid the rise of artificial intelligence. The Transformative Power of Technology in Finance The financial landscape is being transformed by technological advancements, and students witnessed this firsthand at NextGen Finance: Tech Innovation in Financial Services. This panel discussion delved into what it takes to create startups in an AI-driven environment. The event served as a valuable networking opportunity for accounting and finance students, allowing them to explore the emerging trends reshaping…

The AI-in-Finance Partnership: A New Era for Global Finance The landscape of global finance is swiftly evolving, heavily influenced by the algorithms and linguistic models that underpin artificial intelligence (AI). Acknowledging the necessity for a secure and cohesive cross-border regulatory framework, the Monetary Authority of Singapore (MAS) and the Financial Conduct Authority (FCA) of the United Kingdom have formalized a significant initiative: the AI-in-Finance Partnership. Significance of the Partnership Unveiled during the Singapore FinTech Festival, this strategic collaboration aims to foster the safe and responsible deployment of AI technologies within the fintech sector. By doing so, it enables financial institutions…