As generative AI models become more adaptable and accessible to organizations of all sizes, their uses in many managerial functions will increase

Using Generative Artificial Intelligence in Budgeting and Planning  

As generative AI models become more adaptable and accessible to organizations of all sizes, their uses in many managerial functions will increase. Since the models provide the ability to easily analyze large datasets and to capture and replicate patterns and structures found in the data, their use in operational planning, forecasting, budgeting, and reporting seems to be a natural fit.

In this Discussion, you will consider the subjects of the past 2 weeks, strategic planning, forecasting, budgeting, and balanced score cards, and how generative AI can be utilized in these managerial accounting functions.

To prepare for this Discussion:

• Review this week's Learning Resources.
• Conduct a search of the Walden Library for more information on generative artificial intelligence.
• Consider the subjects from the past 2 weeks and the methods used to produce artifacts needed for each.

Post an analysis of the role of generative AI in strategic planning, budgeting, forecasting and balanced scorecards in an organization, to include the following:

• Provide a detailed example of how generative AI might be used in the strategic planning, budgeting, and forecasting processes or in the development and reporting of a balanced scorecard.
• Describe an advantage and disadvantage an organization might experience when using generative AI for either of these functions.