AI as a Financial Coach – Promoting Sustainable Financial Management with Generative AI

Abstract

In this chapter we will explore and analyze how generative AI tools designed with a human-centered approach can help companies with financial management and contribute to sustainable finance. The chapter begins with an introduction to the EU regulation related to sustainable finance, aiming to help achieve the objectives of the Green Deal. According to the Triple Bottom Line theory, the three parts of sustainability—environmental, social, and economical—are strongly interlinked. However, economic efficiency and sustainability are often perceived as conflicting goals. We will look at practical ways to reconcile the two perspectives. We will do this with the help of AI crew, a group of AI agents that are specialized in their specific fields. We will test and review how this crew can be used as a financial coach to create solutions for some of the key challenges in sustainable financial management. We will also consider the issue from the perspective of an example company, a European textile firm. The chapter concludes with a summary of our key findings and ideas for future research on AI, sustainable financial management and the law.