Citation :

Parveen Singh Hoshiar Singh, 2024. "AI-Driven Financial Data Analytics: Unleashing the Power of SAP FICO for Predictive Accounting" ESP International Journal of Advancements in Computational Technology (ESP-IJACT) Volume 2, Issue 3: 153-166.

Abstract :

This article is written to understand the utilization of Artificial Intelligence (AI) with the SAP FI and CO module named FICO for predictive accounting. SAP FICO, coupled with the application interface of Artificial Intelligence, including Machine Learning (ML) and Natural Language Processing (NLP), enables the capacity to consider future financial scenarios in financial planning. Some advantages of predictive accounting include forecasting cash flows, better planning of account budgets, and managing risks. Hence, the paper focuses on cooperation between AI and SAP FICO, using different methodologies, frameworks, and practical cases for their application. Key benefits and challenges are also presented to provide a broad overview of this emerging innovative technology.

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Keywords :

AI-Driven, SAP FICO, Predictive Accounting, Financial Forecasting, Machine Learning.