Yesterday I built a Financial model with AI and it did the following
➡️ Calculated lnterst Expense as Depreciation times total debt
➡️ Had no cash revolver
➡️ Created 4 and a half revenue streams but only included one in the revenue calculation and skipped the rest
This is why I say most users will get more benefit by learning what best-in-class models look like and solid Excel skils than AI prompting in Excel.
Combine the above issues with the fact that it often uses overly complex formulas and different methods each time to solve the same problem and you have issues that you need to be able to audit and work through.
AI is a great magnifier if your models are messy and have mistakes expect it to be worse with AI. If you are building smart, clean well-designed models and workbooks expect AI to help you be more efficient.
Anyone who says just watch it build the model with a single prompt while you take a break is selling something or does not understand the intricacies of modeling.
Keep learning do not rely on AI to replace your Excel or modeling skills.
➡️ Calculated lnterst Expense as Depreciation times total debt
➡️ Had no cash revolver
➡️ Created 4 and a half revenue streams but only included one in the revenue calculation and skipped the rest
This is why I say most users will get more benefit by learning what best-in-class models look like and solid Excel skils than AI prompting in Excel.
Combine the above issues with the fact that it often uses overly complex formulas and different methods each time to solve the same problem and you have issues that you need to be able to audit and work through.
AI is a great magnifier if your models are messy and have mistakes expect it to be worse with AI. If you are building smart, clean well-designed models and workbooks expect AI to help you be more efficient.
Anyone who says just watch it build the model with a single prompt while you take a break is selling something or does not understand the intricacies of modeling.
Keep learning do not rely on AI to replace your Excel or modeling skills.