GenAI in corporate finance: Redefining data-driven insights

In today’s rapidly evolving business landscape, where data is abundant but insight can be elusive, elite consulting firms are leveraging the power of generative AI (GenAI) to transform corporate finance.

At the forefront of this transformation is Kirill Iaroshenko, a senior management consultant at a global consulting powerhouse, specializing in financial technology and digital transformations. With expertise in AI and fintech, Kirill has led the creation of a GenAI-based platform that’s already reshaping how financial data is used across public and private sectors.

Kirill brings a unique perspective to the discussion of generative AI’s impact on corporate finance. Here, he shares insights into this groundbreaking project—one that’s poised to set new industry standards for data analysis, valuation, and decision-making.

What was the motivation behind creating this GenAI platform, and what industry challenges does it address?

– Our primary motivation was to close a significant gap we observed in corporate financial analysis. Traditional analytics tools, while powerful, often lack the context that today’s fast-paced environment demands. Decision-makers in finance need insights that are not only accurate but also immediately actionable, something that goes beyond basic numbers and spreadsheets.

This GenAI platform was built to meet that need. It’s designed to provide concise, contextualized insights from a vast array of financial documents, including earnings calls and quarterly filings, in seconds. With GenAI, our users can tap into a wealth of knowledge from complex financial data without the usual barriers. The goal was to make decision-making not only faster but more accurate. The tool has quickly become invaluable for both our internal teams and clients, especially those focused on optimizing Return on Invested Capital (ROIC) across competitive landscapes or improving Total Return to Shareholders (TRS).

Can you describe some of the technical innovations your team brought to the platform?

– We introduced several key innovations to adapt GenAI specifically for corporate finance. For instance, we developed a unique way of embedding data from earnings calls and financial reports to create a sort of “corporate memory” that our model could draw on for contextually relevant insights. This wasn’t just about providing data; it was about creating a system that could “understand” and explain it.

The foundational AI model was fine-tuned on proprietary valuation frameworks and other resources to elevate its analytical capabilities. We integrated APIs to pull real-time financial data, which the GenAI model then analyzes to explain trends in ROIC and TRS. It essentially provides a narrative, explaining not only the numbers but also the factors driving them. This structure adds immense value for decision-makers who need quick answers without sacrificing depth.

How does this platform differ from other AI solutions in finance, and what makes it so valuable to elite consultancies and their clients?

– Unlike most AI solutions, which can be overly general or too rigid, this platform is tailored specifically for the nuances of corporate finance and valuation. Many tools in the market lack adaptability or context, making them less practical in the complex world of financial decision-making. We designed this platform to be flexible, precise, and informed by the Firm’s own analytical rigor.

What sets it apart is how it combines technical sophistication with an intimate understanding of financial nuances. The platform can generate explanations of changes in ROIC and TRS over time and among a set of competitors, transforming raw data into a story of corporate performance. This has allowed us to create a one-stop hub for financial intelligence that’s already in daily use by over 10,000 Firm employees and more than 1,000 client users. It’s become an essential tool for decision-makers, especially in today’s uncertain economic environment.

What was the process of fine-tuning the AI model, and what advantages has it brought to the platform?

– Fine-tuning was an essential step to adapt the model specifically for corporate finance. We trained it on our firm’s valuation frameworks and proprietary content to build an AI capable of interpreting financial data at an expert level. This fine-tuning made the AI uniquely adept at generating insights based on a deep understanding of MBB’s standards in valuation and corporate strategy.

This customization enables the AI to interpret financial disclosures with an expert’s eye. It’s not just answering questions—it’s providing insights that reflect the depth of industry experience. For instance, it can identify and explain the drivers behind ROIC fluctuations across industries, something that would typically take analysts hours or even days to determine. Fine-tuning has made the platform far more than just an analysis tool; it’s a trusted resource for high-stakes decisions.

How has this tool impacted internal operations and client relationships so far?

– The platform has had a significant impact both internally and externally. For internal teams, it’s streamlined data analysis, reducing time spent on this task by around 40%. Consultants are now free to focus on interpreting results and formulating strategies, rather than simply processing data. For our clients, the platform has opened up a new level of transparency and efficiency. They’re able to get near-instant insights that would typically require hours of manual work.

Moreover, this platform has sparked interest in scaling GenAI applications across the industry. Many of our clients are now exploring tailored versions of this tool, and several are working closely with us to build GenAI solutions specific to their needs. It has really validated the demand for AI-driven insights in corporate finance and demonstrated that a more programmatic approach to AI implementation is not only possible but highly valuable.

What were some of the challenges you faced while developing this platform, and how did you address them?

– Data security was a major consideration, given the sensitivity of financial information. We collaborated closely with our data security and enterprise risk teams to ensure that client and firm data were protected without compromising the platform’s functionality. Another challenge was integrating this tool into existing workflows, especially as many finance professionals are accustomed to traditional methods.

To facilitate a smooth transition, we held workshops and provided extensive user support. We also designed the platform to integrate seamlessly into current processes, so there was minimal disruption. These steps made the platform widely accepted across the Firm and helped boost adoption rates quickly.

How do you envision GenAI shaping the future of corporate finance?

– GenAI has the potential to fundamentally reshape corporate finance. Tools like this will become essential in providing decision-makers with fast, reliable insights. The future lies in a more analytical, evidence-based approach to decision-making where GenAI can anticipate economic shifts and deliver predictive insights proactively.

This platform serves as a proof-of-concept and is already paving the way for more extensive AI implementations. We’re now looking at how to programmatically scale these tools across industries, from investment banking to insurance. GenAI will drive a new standard of data-driven insight in corporate finance, making complex analysis accessible and immediate. I believe this tool will become a blueprint for GenAI applications in other areas, potentially transforming entire sectors.

What’s next for you and this GenAI platform?

– Scaling is the immediate next step. We’ve demonstrated the platform’s value internally and with clients, and now we’re expanding its capabilities even further. We’re adding more financial metrics and predictive capabilities, aiming to make this platform as comprehensive as possible. I’m particularly excited about exploring cross-industry collaborations where GenAI solutions can be customized to address specific challenges. GenAI is an evolving field, and I’m eager to continue pushing the boundaries of what’s possible in corporate finance.

Through his work on this GenAI platform, Kirill Iaroshenko is setting a new standard in corporate finance, turning complex data into clear, actionable insights. As AI becomes integral to business, Kirill’s work showcases how next-gen tools can revolutionize the way companies think about financial strategy and decision-making.

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