Autonomous finance, based on artificial intelligence agents, is quickly becoming a reality.
Prophix Software Inc. has implemented agentic AI into its financial performance platform. The goal is to automate much of the work overseen by chief financial officers in the tech sector.
Alok Ajmera of Prophix talks about the company’s AI agents.
“Organizations are employing their most professional finance leaders in incredibly manual processes, repetitive tasks,” said Alok Ajmera (pictured), president and chief executive officer of Prophix. “It’s not about inefficiency, it’s actually about missed opportunity. We’re at this amazing inflection point with generative AI … such that we can go from streamlining work, which was really about taking something that took two weeks and cutting it down to a week.”
Ajmera spoke with theCUBE’s Rob Strechay at “The Future of Finance. Revealed.” event, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed Prophix’s new line of agents and its perspective on AI in finance. (* Disclosure below.)
The pillars of autonomous finance
Prophix’s vision for autonomous finance is based on harnessing a real-time insight engine to address system anomalies proactively. It also relies on AI agents to accelerate decision-making and shape organizational strategies, according to Ajmera.
“With autonomous finance, we’re really thinking about how do we take these tasks and actually offload them,” he said. “You’re thinking about a world in which the human operators are thinking more strategically, thinking about directionally where the organization wants to go while offloading the work to AI agents.”
As a complement to Prophix One Intelligence, the company’s embedded AI engine, Prophix recently announced a suite of AI agents designed for budgeting, generating reports and modelling. The agents are purpose-built for finance leaders and analysts, and go beyond performing rote tasks.
“Your AI agents are actually building real-time scenarios,” Ajmera explained. “Understanding new data points that are coming in, understanding projections, and really trying to help you triangulate where the business is trending and operationally what could be done to actually help course correct.”
Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of “The Future of Finance. Revealed.” event:
(* Disclosure: TheCUBE is a paid media partner for “The Future of Finance. Revealed.” event. Neither Prophix Software Inc., the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)
Photo: SiliconANGLE
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