Open Access

Dennis SchlegelORCiD, Robin Fink

• Corporate planning and financial budgeting are essential for companies to achieve their long-term objectives. While the application of other technologies such as Robotic Process Automation (RPA) in planning and budgeting is already a well-established practice, the potential advantages of incorporating generative artificial intelligence (GenAI), specifically Large Language Models (LLMs) in the domain of planning and budgeting remain rather unclear. Hence, the aim of this research has been to identify potential use cases and review the current state of the discussion. A Multivocal Literature Review (MLR) was conducted to analyze and evaluate both academic and non-academic sources. The literature highlights the transformative potential of GenAI in enhancing business planning and financial budgeting through natural language interfaces, enabling users to access, analyze, and interpret data more effectively. However, the findings also show a gap in the existing academic literature and indicate that some grey literature sources may have to be interpreted with caution. Therefore, further research is required to fully understand and leverage the benefits of GenAI in corporate planning and budgeting.