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November 12-14, 2017 Bellagio Resort & Casino, Las Vegas Get Ready for Artificial Intelligence

Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

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Page 1: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Get Ready for Artificial Intelligence

Page 2: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

About ULVAC Technologies, Inc.

• Japanese-owned, semiconductor & vacuum tech equipment distributor and manufacturer

• Sells equipment to build MEMS sensors for IoT

• Many of our customers are investing in AI

• Website: ULVAC.com

Page 3: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

Follow the Money • Giant R&D spending amounts (hundreds of billions) are being

invested in Artificial Intelligence (AI)

• China is planning the equivalent of $150 Billion to invest in AI

Page 4: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Four Industrial Revolutions

Page 5: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

How big data will grow Components of the 4th Industrial

Revolution

Mobile computing Robotic Process Automation Artificial Intelligence Smart technology Social Media Internet of Things (IOT) Machine to machine communication Blockchain (Crypto currency) Bitcoin

Physical to Digital (Cyber) to Physical

Big Data for AI to analyze/learn

Page 6: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Artificial Intelligence is productivity tool to be used

Accountants have used tools to centuries to support their roles Think of Artificial Intelligence as software automation like an Excel macro Leverage AI as you would a calculator

Page 7: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

How AI terms are related

Page 8: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

When will AI affect you? Bigger, public companies with many transactions have the

financial resources and the best case for ROI in regards to automating accounting tasks. There needs to be good documentation and standardization to base workflows that can translate well to automation. You may be pushed into it in the form of risk management Example: AI anti-virus will be used to defend against AI driven cyber attacks.

Page 9: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Road Map to automation that that will include AI

Page 10: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Why big data is important for AI

Machines learn by exposure to data and identifying similarities. The more data that can be analyzed, the better understanding a machine can have. For example, reading a large number of employee expense reports can create patterns that AI can identify as “normal.” Checking per diem rates, cross referencing other employees expense reports who travelled to the same location. Each new report helps to slightly refine what the machine interprets as “normal.”

Page 11: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Common contributions to machine learning include: Updating your e-mail spam filter rules Telling newsfeeds (e.g. Flipboard) your preferred content Using Google maps and Google translate and recommendations based on picks

Page 12: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Supervised machine learning vs. unsupervised

Supervised = Here are examples of expenses reports that can be approved and here are examples of expense reports that cannot be approved Unsupervised = Here are all the expense reports, what patterns can you find?

Page 13: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Introduction to RPA

• Robotic process automation (RPA) is the use of a software robot or “bot” that replicates the actions of a human to execute tasks across multiple computer systems. According to reputable research firm (Deloitte), a minute of work for a robot is equal to about 15 minutes of work for a human.

• For example, a bot could scan an invoice as a PDF document, attach and

send to the customer as e-mail, save the data into an Excel spreadsheet, log into a web system, transfer the data to generate a report, then e-mail an employee to say the work is done.

• Robotics is predicted to automate or eliminate up to 40 percent of transactional accounting work by 2020, a 2015 Accenture report found.

Page 14: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

What can automated with RPA?

• Document Capture

• Data Entry

• 3-Way Matching

• GL Coding

• Vendor Interactions

• Payments

• Document Review & Approvals

• Process Management & Controls

• Exception Processing

• And more…

Page 15: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Robotic Assistants • Control processes

• Enforce rules

• Automate communications

• Provide reminders

• Manage resources and escalates

• Preform data entry

• Collect and present data and documentation

• Ask for your expert input for review or approval

Page 16: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Automated Data Entry Invoices

Purchase Requests

Purchase Orders

WEB Docs/E-mail

Eliminate Double Entry

Key-Process Docs

• HCFA/EOB

• Orders

• Special Transactions

Page 17: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

You can start RPA anywhere

Purchasing Accounts Payable Accounts Receivables Order Entry

Customer Service

Operations

Compliance

Human Resources

Page 18: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Benefits of Accounting Automation

More Efficient

Process Less Labor

Fewer Mistakes

Ensure

Accountability &

Compliance

Rapid

Implementation

Satisfied Users Do

More

With Less

BENEFITS

COST TO PROCESS

$22.75

TIME TO PROCESS

16.3DAYS

EARLY PAYMENT DISCOUNTS

16%

78%

REDUCTION

63%

REDUCTION

298%

INCREASE IN

PAYMENTS

BEFORE. RESULTS

COST TO PROCESS

$5.03

TIME TO PROCESS

6.1DAYS

EARLY PAYMENT DISCOUNTS

47%

Page 19: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Myths and Reality of RPA

MYTH: Robotics will fix outdated or inefficient processes MYTH: All processes can be improved with RPA MYTH: Robots will replace the workforce REALITY: Process costs are reduced by 25%-40% REALITY: Significant increase in processing speed REALITY: RPA is a technology overlay, that ties together legacy fragmented systems through automation REALITY: Human workforce increases focus on results, analytics and relationships

Page 20: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Why prepare for AI? • The benefits of AI are expected to outweigh the cons. AI

will continue to grow in nearly all aspects of our lives.

• AI is a designed to be a problem solving technology that will be a disruptive innovation

• The world economy is expected to gain billions in GDP thorough utilizing AI

• Your career will be impacted by this coming change

Page 21: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

How to prepare for AI? • Learn the difference between what AI can do

easily and what will be difficult for AI to do

• Develop new skills that will benefit from AI driven data

• Be vigilant to keep your data accurate

• Expect routine, rule-based manual tasks to be the first activities to be automated.

Page 22: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Specifics To Prepare for AI

• Capture a real-time flow of more and more data from a cloud-based server (feed AI with lots of data)

• Utilize API software to link multiple data sources (feed AI with lots of data)

• Improve the quality of your data with rules and standardization (link data sources with a common field and support the output of analytical data)

• Prepare to take on action based on the analytical data (make decisions with supporting information from AI)

Page 23: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Examples of AI related to Accounting

•Risk management

•Audits

•Compliance and reporting

•Forecasting and analytics

Page 24: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Today’s Automation with an ERP System

Automation through rules-based work flows by user-defined fields Automatic sub-ledger reconciliations , like AP Trade Automatic job-costing Automatic reporting FIFO inventory by purchase order for automatic proper COGS posting Application Programming Interface (API) ready for RPA integration API ready to connect to other databases to push and pull information

Page 25: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Modern ERP with software automation

Page 26: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Short Term Trends A faster month-end close through automation allows accounting and finance people more time to analyze results and offer strategic input for action to be taken. Expect continued reductions in staff dedicated to a single purposes like AP, AR, Cost and Financial Analysis. More finance and accounting people will hold a variety of different responsibilities. The world of IT gets closer everyday to accounting and finance people. Vendors are starting to introduce software solutions to our industry that include components of AI.

Page 27: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Which new skills will be important

• Troubleshooting ERP system problems • Interpreting data and offering advice to increase positive

results • Finding variances in data assembled by Bots • Understanding how algorithms are defined al·go·rithm ˈalɡəˌriTH͟əm/ Noun a process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer. "a basic algorithm for division"

Page 28: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Preventing Your Own Obsolescence to Automation

Use your authority as the owner of your business data to insure accuracy of what automation posts Stay valuable to your company as automation takes over more functionality by taking on related functions Anticipate changes and adapt your role to the new work that will be available to do Learn new skills and find gaps in your reporting process

Page 29: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Problems with forecasting AI advancement impacts

Some AI initiatives will succeed, others will fail Science fiction, through popular culture, has influenced opinions on the dangerous potential of AI The further you look into the future, the less accurate forecasts will be AI is happening in many different industries simultaneously at a fast pace

Page 30: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

This presentation cannot answer all your questions about AI

Page 31: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Financial Executives International (FEI) is the leading advocate for the views of

corporate financial management. Its more than 10,000 members hold policy-

making positions as chief financial officers, treasurers and controllers at

companies from every major industry.

FEI enhances member professional development through peer networking,

career management services, conferences, research and publications.

Members participate in the activities of 68 chapters in the U.S. and a chapter in

Japan. FEI is located in Morristown, NJ.

What is Financial Executives International?

Page 32: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

We are a professional association whose mission is to empower senior financial executives realize success in their careers, as well as for the people

and companies they lead.

Our members realize this success through the collaborative and energetic community we foster, which helps them build a professional network of their peers, as well as involves them in engaging

discussions, both in-person and online, that deliver pragmatic and tangible insights on

business and leadership issues. www.cfolc.com

Page 33: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Unique peer-to-peer forum specifically for Finance executives Focused on resources and best practices for the office of a CFO Improve stakeholder relationships with your CEO, Board-level leadership roles Accelerate your path to other C-suite and Board-level leadership roles Get your personal life back in balance while also increasing your leadership effectiveness

Page 34: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

For more information about AI, ERP, RPA other technologies, networking groups

please contact me

E-mail: [email protected]

My LinkedIn: www.linkedin.com/in/davesackett/

Page 35: Get Ready for Artificial Intelligence - Amazon Web Services · Get Ready for Artificial Intelligence . About ULVAC Technologies, Inc. •Japanese-owned, semiconductor & vacuum tech

November 12-14, 2017

Bellagio Resort & Casino, Las Vegas

Sources of Information DocuPhase RPA https://www.docuphase.com/ Visibility ERP http://www.visibility.com/ The 4 Industrial Revolutions (by Christoph Roser ) at http://AllAboutLean.com https://www.linkedin.com/pulse/artificial-intelligence-deep-learning-trends-insights-anuj-saxena https://www.uipath.com/automate/robotic-process-automation http://www.startribune.com/robotic-software-sweeping-large-accounting-firms-and-clients Financial Executives International https://www.financialexecutives.org/ CFO Leadership Council http://www.cfoleadershipcouncil.com/ Vistage https://www.vistage.com/ http://www.ey.com/ Presentation by EY ULVAC Technologies, Inc. http://www.ulvac.com