Digital Transformation in Financial Management Through Artificial Intelligence and Intelligent Automation

Background: Artificial intelligence and intelligent automation are changing the way financial management is done through better analysis, efficiency, prediction, decision making, and response. Yet, there is a lack of empirical literature that brings all these together in a framework for financial transformation. Methods: The purposes of this study, a quantitative cross-sectional research method based on an online survey conducted among 175 finance and accounting professionals, as well as experts in business and technology, in the United States was used. The six dimensions considered in this study were AI Capability, Intelligent Automation, Predictive Analytics Capability, Digital Process Integration, Financial Decision Intelligence, and Financial Management Performance.Results: The respondents have indicated moderate levels for the study variables, which were 3.91, 3.89, and 3.88 for the variables Digital Process Integration, Financial Management Performance, and Predictive Analytics Capability respectively. Autonomous Financial Reporting showed highest level of usage at 58.3%, followed by Predictive Financial Analytics with 57.1% and Real-Time Financial Intelligence with 55.4%. Financial Decision Intelligence was found to be highly correlated with Financial Management Performance at 0.809, whereas Intelligent Automation and Predictive Analytics Capability showed a correlation of 0.781 and 0.769 respectively with Financial Decision Intelligence. Conclusion: The findings show that AI capability, intelligent automation, predictive analytics, and digital process integration are interrelated with financial decision intelligence and performance.