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Amazon
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Accelerate your financial statement analysis with Amazon Bedrock and generative AI
- Generative AI can be integrated to automate tasks in the financial industry, such as automating data extraction, trend analysis & forecasting, and financial reporting statements.
- Amazon Bedrock offers FMs from leading AI startups and Amazon to best suit your use case.
- The workflow involves user interaction, which goes through Amazon API Gateway, AWS Lambda function, Amazon Bedrock, Amazon DynamoDB, and Amazon Simple Notification Service (Amazon SNS).
- Gather proper financial data, pre-process them to remove noise and standardize the format of balance sheets, cash flow statements, income statements, etc.
- Standardization is beneficial when feature distribution is consistent, while normalization increases a machine learning model's performance when feature distribution is unclear.
- Amazon Bedrock allows you to choose the most appropriate model for specific use cases like NLP, text generation, and image generation among others.
- If you don't have access to Amazon Bedrock FMs, you need to request access through the Amazon Bedrock console to configure the deployment settings according to your application's requirements.
- Build a backend application to handle requests from the frontend, send data to the model, and process the model's responses using Lambda, API Gateway, or other REST API endpoints.
- Create a frontend interface for users to upload financial statements and view the analysis results, which can be a web or mobile application.
- Generative AI can help you accelerate the analysis of financial statements in order to pull insights from documents like 10-Ks, balance sheets, and income statements with improved efficiency.
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