Budgetary Processes through Generative AI: A Comparative Analysis of Business Planning and Financial Data Modeling
Budgetary Processes through Generative AI: A Comparative Analysis of Business Planning and Financial Data Modeling

Author(s): Eric Jamel Morau Fils, Azzeddine Allioui
Subject(s): Financial Markets, ICT Information and Communications Technologies
Published by: Scientia Moralitas Research Institute
Keywords: Budgetary Process; Generative AI; Business Plan; Forecast; Performance Analysis;
Summary/Abstract: This study aims to enrich the current literature on the transformation of the budgetary process by generative AI. We developed a business plan and budget for an online real estate platform. Using the case method, we compared both the usual tools (Desk Research on internet and hypothesis formulation and modeling using Microsoft Excel) and generative AI-based tools (Market research, Hypothesis fine-tuning and modeling). Our results suggest that while ChatGPT is time-effective in terms of market research, data analysis, and presentation, there is room for improvement in terms of data modeling in comparison with Microsoft Excel. The current version of ChatGPT is not mature and robust enough to be relied on to produce high-quality forecasts and modeling.

• Details
• Contents