SGOU hosts seminar on ‘AI in Accounting and Finance’

Sreenarayanaguru Open University (SGOU) Vice-Chancellor in-charge Jagathy Raj V.P. inaugurated a two-day seminar on ‘Artificial Intelligence (AI) in Accounting and Finance’ at the Loyola College of Social Sciences on Thursday.

The event was jointly organised by the Institute of Chartered Accountants of India, Kerala University and the Loyola College of Social Sciences.

In his inaugural address, Prof. Raj opined that 80% of financial institutions are expected to adopt AI for their operations, potentially saving the financial services sector $441 billion annually by 2030. He emphasised the immense opportunities that AI will present for India, while observing that the Indian AI market is projected to reach $17 billion by 2027 and that the Banking, Financial Services, and Insurance (BFSI) sector is the top industry for its application, contributing to nearly 36% of the country’s AI adoption.

M. Thenmozhi, Professor and Head, Department of Finance, IIT Madras, delivered the presidential address. Kinnary Thakkar, Professor of Commerce, University of Mumbai; Biju T., Head of the Department of Commerce, Kerala University; Loyola College Principal Sabu Thomas and Academic Director Gabriel Simon Thattil also spoke on the occasion.