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Hi. This is Stephen McLain of the finance leader podcast. This is bonus episode number 96 we are into September now, which means we are getting closer to cooler weather and autumn conditions. I love the fall. The leaves turn color. The weather is milder. We start to eat more comfort food, and most of all, it's the American football it's football season. I am very excited this week. I wanted to briefly share what I think are the learning priorities for the upcoming year. I want to highlight a few topics to add to your individual development plan and for earning CPEs. Here are my three learning priorities for the next year.
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The first is about implementing artificial intelligence ethically and effectively into your processes. I would focus first on learning how to integrate AI into your forecasting and predictive analytics. I would expect that any AI tools you have are integrated into the finance ERP you are already using, or maybe it might be an internal AI tool that your company has approved before you use AI. If your company doesn't have an approved AI solution, please ask what the options you can safely use. The takeaway is to figure out how AI can elevate your analysis, not replace it, and how AI can help you lead a process even better.
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The next topic to learn is how to perform a sensitivity analysis on your strategic decision making recommendations.
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Sensitivity analysis is a powerful tool to help organizations understand how changes and key assumptions impact financial and operational outcomes by adjusting variables such as pricing specific costs, interest rates or market growth, leaders can evaluate potential risks and opportunities before committing to that decision.
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This approach highlights which factors have the greatest influence on performance and allows management to prepare contingency plans for different scenarios, ultimately, incorporating sensitivity analysis into strategic planning enables more informed data driven decisions, reduces uncertainty and strengthens an organization's ability to adapt in the business environment that we see now. And finally, the last topic is risk management learning financial risk management is essential for finance and accounting professionals, because it'll help develop the skills to identify, assess and mitigate potential threats that can impact an organization's financial stability and long term success. By mastering risk analysis, professionals can anticipate potential losses, protect company assets, optimize capital allocation and improve overall financial performance. I covered risk analysis in my summer audit series. If you missed those episodes, please go back to listen. They will definitely help you. These three learning topics go together perfectly as you continue to improve your abilities as a finance leadership professional, we need to address growing our skills in adopting artificial intelligence, strategic decision making and financial risk management. Season number 21 of the podcast begins soon. I'm going to bring topics to help you in improving your processes and financial planning and analysis and in accounting. I can't wait to share. Have a great rest of your week. Thank you. You.