Thiruvananthapuram: A two-day summit examining the transformative role of artificial intelligence in finance and accounting commenced at Technopark on Saturday, drawing professionals, industry leaders, and policymakers to discuss the sector’s future. Titled NextGen Finance AI Summit 2026, the event is organized by the Professional Development & CPE Committee of the Institute of Cost Accountants of India (ICMAI) in collaboration with Technopark, the Southern India Regional Council (SIRC) of ICMAI, and its Thiruvananthapuram Chapter.
During the inauguration, N K Premachandran, Member of Parliament, emphasized the sweeping changes that AI is ushering into the finance profession. He remarked that the industry is experiencing a structural shift from manual processing to strategic intelligence and data-driven decision-making. “There is a clear transition in finance from routine processing to strategic insight powered by technology,” he stated, underscoring the summit’s theme, Transforming Finance with AI: From Automation to Insight. Citing a report from the McKinsey Global Institute, he pointed out that nearly 25% of existing jobs in India could face disruptions due to AI by 2030, highlighting the need for effective AI integration to mitigate job losses and foster new opportunities.
Srinivasa Prasad, president of ICMAI, presided over the inaugural session, describing the summit as a groundbreaking event in Kerala and a significant milestone for the institute. He noted that this initiative reflects ICMAI’s commitment to equipping its members for a rapidly evolving financial and technological landscape. AI-driven management in finance, he indicated, is not confined to cost control but extends to optimizing overall resource management.
The summit commenced with sessions on Next Gen Finance Automation & Google Apps Script, VBA Automation, and Vibe Coding, alongside a robotic show that captivated attendees. On the following day, discussions will shift to topics such as transforming financial reporting through automation and risk analysis, and the implementation of the digital twin model of costing. Interactive demonstrations and expert-led sessions are also on the agenda, aimed at deepening understanding of the implications of AI in finance.
The convergence of technology and finance is marked by increasing reliance on AI, which is reshaping how financial institutions and professionals operate. As organizations strive for efficiency, the role of finance professionals is evolving from traditional tasks towards a more strategic, insight-driven approach. The summit’s discussions are expected to equip attendees with the knowledge necessary to navigate these changes and harness AI effectively.
This inaugural summit showcases not only the potential of AI to enhance productivity in finance but also underscores the urgency for finance professionals to adapt to new technologies and ethical standards. With the backdrop of potentially significant job disruptions, the summit’s insights may serve as a critical foundation for future practices in the finance sector, ensuring that professionals are not only equipped to survive but thrive in an increasingly automated landscape.
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