Analysis of Digital Transformation of Financial Management in the Era of Artificial Intelligence

Abstract

The advent of artificial intelligence has set off a climax of digital transformation for many industries. As the foundation of the operation in business, the digital transformation of financial management raises wide concerns. Therefore, this paper analyzes the literature of the last five years regarding artificial intelligence, and the application of digital technology in financial management, etc. to explore the necessity, challenges, and general path of digital transformation in financial management. The national trend and the need for enterprises to improve competitiveness prove the necessity of digital transformation of financial management. However, the weak support of awareness, technology, and human resources obstructs this process. Also, the use of digital platforms poses a high risk of data leakage. A transformation path is designed in response to these issues. The most important steps are to change concepts, establish and improve information platforms, strengthen financial personnel training, and establish data risk prevention mechanisms.