Overview
The adoption of generative AI is rapidly progressing, and companies risk falling behind if they cannot keep pace. Studies indicate that nonprofit organizations (NPOs) typically have fewer resources available for AI investments. Nonetheless, they are finding innovative ways to leverage AI to achieve their objectives.
There is significant potential for efficiency and productivity gains in the preparation of financial reports within NPOs through the application of AI. This could also lead to higher reporting quality by enhancing consistency, accuracy, and timeliness. Currently, however, there are no suitable market solutions tailored to the specific needs of NPOs. These needs differ not only regarding available resources but also in terms of specific reporting requirements such as Swiss GAAP FER 21, Zewo standards, SDC (Swiss Agency for Development and Cooperation) conditions, and cantonal regulations applicable to care facilities.
Another barrier to the widespread adoption and successful scaling of generative AI remains the lack of trust. This issue is particularly sensitive regarding financial data, as it often involves confidential information that must not be disclosed externally. Personal and salary data are also impacted, resulting in high demands on data protection.
