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If you are a finance professional, get ready for an efficiency revolution brought by Agentic AI! It can not only make your work easier but may also earn you compliments from your boss for being “smart as AI.” A recent article in Harvard Business Review elaborates on the potential of this new technology; although it’s a bit technical, let’s discuss it in a relaxed way.
Agentic AI: The “Autopilot” of AI
Agentic AI, simply put, is an artificial intelligence that makes decisions on its own. Traditional AI requires human input, while Agentic AI tells you, “Don’t worry, I’ve got this.” It can analyze targets and execute tasks without human intervention, even handling complex operational chains. You just need to sit back in your office, sip coffee, and watch it perform.
For example, it can monitor market trends in real-time and adjust investment portfolios based on fluctuations; or proactively solve problems before supply chain disruptions occur, making it the “firefighter” of the finance world.
What special abilities does Agentic AI have?
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High Level of Specialization
From asset allocation to customer service, Agentic AI can complete tasks with precision. Its work logic is similar to a “production line worker” in finance, handling tedious tasks beautifully, freeing you to focus on more valuable work. For instance, it can retrieve customer data from databases in seconds, 100 times faster than you flipping through Excel.
AI’s innovation is not trivial. For example, an AI team used Agentic AI to discover an energy-saving material, a task that would take human scientists months or even years.
Compared to traditional generative AI, which sometimes “talks nonsense,” Agentic AI is more pragmatic. It can accurately identify data sources and quickly find the most reliable information. For example, it knows that the latest customer information is stored in the CRM system, not in the outdated reports on your desk.
How can the finance sector leverage it?
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Upgraded Customer Service
Agentic AI can predict customer needs and even proactively resolve issues, such as notifying customers that their contracts are about to expire while promoting renewal options.
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More Efficient Asset Management
It can track market trends in real-time and automatically adjust investment portfolios, saving time and effort for asset managers.
From economic crises to geopolitical risks, Agentic AI can issue early warnings, helping you avoid “black swan” events.
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Error-Free Compliance Checks
Want AI to help you pass compliance audits? Agentic AI easily handles compliance checks, identifying all potential issues.
Don’t just celebrate; there are pitfalls to avoid!
While Agentic AI is powerful, it’s not omnipotent. For instance, how to set clear goals? How to ensure AI and humans in the team collaborate without conflict? These are considerations finance professionals need to think about.
To ensure Agentic AI “makes fewer mistakes and shines more,” you can try the following tips:
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Set Clear Goals: Use the SMART principle (Specific, Measurable, etc.) to let AI know what it should do.
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Build a Good Team: AI is a tool, not a competitor; it needs to cooperate well with human teams.
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Strap in Safely: Set boundaries for AI to ensure it operates within a safe range.
Don’t just wait for the future; action is key.
Agentic AI is not only a new darling in the tech circle but also a powerful assistant in the finance sector. It can liberate you from tedious tasks, allowing you to focus on higher-value work. However, just like investing in financial products, using Agentic AI requires preparation and rule-setting in advance. After all, a smart AI combined with wise finance professionals is the perfect combination for the future.
Are you ready to “take off” with Agentic AI? It’s already on the way; it all depends on how well you can utilize this “super powerful add-on!”
https://hbr.org/2024/12/what-is-agentic-ai-and-how-will-it-change-work
