The Trillion Dollar Question: Is There a Pain-free Shortcut to Mastery? - Carl Seidman (Pt. 1) | Ep.053

More goodies at www.techforfinance.com | Join us on Tech for Finance as we engage with the esteemed Carl Seidman, a financial heavyweight, in a riveting conversation about the convergence of technology and mastery within the finance realm. We navigate the often irresistible human penchant for shortcuts and ponder the ramifications for those striving for excellence in their respective careers. Carl, with his profound experience in FP&A, shares his wisdom on strategic planning, forecasting, and optimizing working capital, as well as his counterintuitive views on AI and technology. Beyond finance, Carl regales us with tales of his culinary escapades and an openness to exploring unconventional local cuisine while globetrotting. **Sponsor** - Join the AI Finance Club - www.techforfinance.com/ai - Enter ADAM100 at checkout for 10% off Listen in as we unravel the complexities and limitations of artificial intelligence in the finance sector. I reflect on my own journey from a know-it-all professional to one humbled by the enormity of what I don't know, stressing the significance of pushing one another towards continuous growth and staying abreast of the latest industry knowledge. We dissect the difference between AI tools that are simply user-friendly and those that truly harness data to propel businesses forward. We also delve into the past overestimations surrounding big data, and discuss the exciting prospects of generative AI, all while acknowledging the enduring value of established financial technologies. In this enlightening session, we extend an invite to the AI Finance Club, underscoring the importance of integrating AI into financial work with prudence. Through personal stories, I illustrate the pitfalls of relying too heavily on AI without proper discernment, emphasizing the necessity for finance professionals to trust their instincts on when AI hits the mark—and when it doesn't. We also contemplate the influence of AI on junior team members and their ability to vet AI conclusions. Wrapping up the discussion, we confront the reliability of AI tools in research, comparing their capacity to provide credible data, and confront the challenge of discerning trustworthy information in an era where skepticism and verification are paramount. ------SHOW NOTES------ Find Carl on LinkedIn - https://www.linkedin.com/in/carlseidman/ Check out Seidman Financial - https://seidmanfinancial.com/ ------CHAPTERS------- (00:00) The Trillion Dollar Question (04:58) Limits of AI in Finance Exploration (15:37) Integrating AI in Finance (30:39) Evaluating Research Tools and Credible Sources Subscribe to the Newsletter at - https://newsletter.techforfinance.com