USING ARTIFICIAL INTELLIGENCE IN THE FINANCIAL PLANNING MECHANISM
USING ARTIFICIAL INTELLIGENCE IN THE FINANCIAL PLANNING MECHANISM
Liliana ANGHEL
Drd.Babes-Bolyai University, Faculty of History and Philosophy, Doctoral School of International Relations and Security Studies, Cluj, Romania anghel_lili3@yahoo.com
Abstract: The article explores the use of Artificial Intelligence (AI) in financial planning, comparing its effectiveness and advantages over traditional methods. AI can significantly transform the financial management process, automating complex analyses and providing more accurate forecasts, thereby reducing human errors and saving time. The article presents applications of AI in key areas of financial planning, such as risk analysis, portfolio optimization, cash flow forecasting and personalization of financial recommendations. In contrast to traditional approaches, which rely on static methods and manual processes, AI enables a dynamic and adaptive approach, based on big data analytics and machine learning algorithms. Concrete examples illustrate how AI can improve financial decisions, increasing efficiency and accuracy in the financial planning process. The article concludes that, while classical methods continue to be relevant, integrating AI into financial planning is becoming increasingly essential for achieving a competitive advantage.
Key words: Artificial Intelligence (AI), financial planning, risk analysis, financial forecasting, machine learning algorithm m
JEL Classification: C45, G17, G11, O33, M15
