By Our Correspondent
BHUBANESWAR: Madhusudan Das Regional Academy of Financial Management; State’s premier institute in imparting training on public financial management; is conducting a four-day training programme on ‘Fintech and Applications of AI/ML in Finance’ in collaboration with Indian Institute of Technology, Kharagpur on Monday.
This training programme covers subjects including Artificial Intelligence, Machine Learning, Digital Finance, Data Mining, Data Analysis using Excel, Statistical Distributions, Data Visualisation, Financial Fraud, Fraud Analytics and Econometrics by seven eminent professors from the country’s leading IIT spanning from 13th to 16th May.
Senior government officers from Finance Department, Commercial Taxes & GST, Controller of Accounts, Directorate of Treasuries & Inspection, State Institute of Rural Development & Panchayati Raj, Revenue Officers’ Training Institute, Gopabandhu Academy of Administration, Biju Patnaik State Police Academy and Odisha Finance Service as well as Odisha Taxation & Accounts Service trainees are participating in the training.
This academy believes that, this training programme would help in manifesting the true potential of officers who play a pivotal role in managing state finances. With the increasing complexity of financial systems and the vast amounts of data generated, the ability to analyse this data strategically is paramount. Such a crucial training module has the capacity to transform these officers into a visionary and eminent personality capable of contributing to state policies.
Data-driven insights derived from robust analysis contribute to evidence-based policymaking and resource allocation. These are indispensable tools for State government officers in navigating complexities of public finance management. By harnessing the power of data and Al technologies, finance officers can enhance financial integrity, transparency and decision-making processes thereby mitigating financial risks and thus enhancing fiscal transparency which ultimately contributes to the overall well-being of the State.
Through advanced analytics, they can identify potential financial fraud, flag suspicious activities, safeguarding taxpayers’ money.
