The 19th meeting of the Global AI/ML FP&A Committee, which took place on May 24th, 2023, featured a presentation titled "Expanding the use of AI in FP&A beyond quantitative analysis" delivered by Thorsteinn Siglaugsson, a Logical Thinking Process Expert.
During the presentation, Thorsteinn Siglaugsson covered various topics. These included a quick recap on the use of AI/ML in quantitative models and an exploration of their limitations. He also introduced logical qualitative analysis and emphasised its importance in FP&A. Furthermore, he discussed the application of natural language models to expedite the analysis process.
To illustrate the practical implementation of AI in qualitative analysis, Thorsteinn provided two examples. The first example involved using a Current Reality Tree to uncover hidden root causes. In contrast, the second example showcased how a Future Reality Tree can be employed to test projects or strategic plans before their implementation logically.
To listen to the presentation from Thorsteinn Siglaugsson, please, follow this link.
If you would like to learn more, you can also read the article written by Thorsteinn Siglaugsson.