Artificial intelligence is not a single technology — it’s a process that builds on a foundation of data, systems, and human expertise.

For utilities, implementing AI in finance starts with the data that already exists across billing systems, work management, asset accounting, and ERP platforms.

The goal is not to replace people, but to enhance the precision, speed, and insight of financial operations by automating repetitive tasks and uncovering relationships hidden in large data sets.

Utilities today face a growing demand for transparency, efficiency, and data-driven decision-making. Executives, regulators, and customers alike want to see how the organization is performing financially, operationally, and strategically. One of the most effective ways to meet this demand is by implementing Key Performance Indicator (KPI) dashboards in Microsoft Power BI. These dashboards transform raw data into clear, actionable insights that can be shared across departments and even externally with boards or governing bodies.

We continue our journey of exploring uses of generative artificial intelligence in areas throughout the utility - in operations and finance. The AI revolution is transforming the way we look at basic tasks and expanding our horizons when it comes to how the utility business is managed.

There is much discussion about artificial intelligence in various industries and its potential to replace human jobs and positions. Taking a broader perspective, it becomes clear that applications of artificial intelligence in the electric industry are primarily focused on enhanced data utilization for grid management, customer service, system maintenance, and planning.

Artificial intelligence (AI) tools are increasingly becoming integral to the operations of finance and accounting offices. These tools are revolutionizing how financial data is processed, analyzed, and utilized, leading to significant improvements in efficiency, accuracy, and decision-making.

Embracing AI will make it possible to maximize efficiencies in the accounting and finance departments, open up team members for other tasks, and provide the tools for deeper analysis of customer use of electricity. The depth of AI data analysis will provide additional tools to directly design rates that can modify customer behavior in their electricity use and with choices on how they use electricity.

This article provides a very high-level view of areas used in the accounting and rates functions of power and utilities organizations. The list will undoubtedly grow.