tl;dr
Generative AI refers to models that produce new content, text, summaries, forecasts, draft communications, based on patterns learned from existing data, rather than retrieving a pre-written answer.
In finance, generative AI can draft a variance explanation, summarize a month's close activity, or write the first version of a board update.
The output still needs a person's review for anything that carries real judgment or external consequence. What generative AI removes is the blank page: the first draft of the memo, the summary of what changed, the explanation of a variance, already assembled from the underlying data before anyone starts writing.
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