Digi tech will absorb most of the manual work

Hyderabad: "Digital technologies such as cloud, AI, robotic process automation, intelligent automation, blockchain and others will absorb much of the manual work that has traditionally taken up the resources of the CFO suite" opine the exports. The future will bring more advanced automation to traditional business processes and operations, and financial executives would do well to learn how to take advantage of this automation sooner rather than later, they ascertained in a Seminar on "Emerging Finance Function in the Digital World" organised by GITAM Hyderabad Business School (GHBS) at its camps on Friday in association ACCA and ISDC.

The eminent guests like Piyush Khandelwal, Prabhakar Rao Kotapati, Sabyasachi Mohapatra and Vimal Jain from industry and academia address the seminar as major resource persons. The proliferation of new and emerging technologies is disrupting traditional business models, enabling startups to upend established businesses. Artificial intelligence and machine learning are automating routine processes and reporting, establishing a responsibility for real-time performance information, they told. As more and more processes in the finance function become automated, these proportions will shift. Finance will be spending very little time collecting, cleaning and connecting data and instead will be focused on providing the insights that generate revenue and create value, they concluded.

Earlier, GITAM Hyderabad Pro Vice-Chancellor Prof. N. Siva Prasad welcomed the exports and recalled the age ole batter system to new age digital economy, how the technology playing major role in the years to come.

GHBS Dean & Director Prof. Y. Lakshman Kumar highlighted the see change happing year to year and growing the importance of the cashless transactions. He told that the digital disruption is crated new opportunities and it all depends on the way we work, the way the workman doing the activity and the workplace, he added.

Prof. A. Sreeram also took part in the inaugural session. MBA, BBA & B.Com students also participated in this one-day seminar and posed many questions to get more clarification from the exports.