How Machine Learning is Disrupting Accounting

Artificial Intelligence (AI)  has become the new norm in industries across the globe. For the accounting profession, AI automates tasks such as data entry and audits. Using AI saves firms money and hassle, as it does a lot of very tedious work.

In an article from Accounting Web, author Will Bible writes, “Taking advantage of AI could enable accounting, audit, and compliance departments to analyze significant amounts of data, and deliver more analysis and insight as a part of their roles”.

In the article Bible discusses:

• Data is both an opportunity and challenge for AI
• Machine-human collaboration is crucial
• AI is an opportunity for audit and compliance professionals to “lean-in”
• What is next for AI

Bible continues, “We should begin thinking about AI as an enabling tool rather than a direct competitor. We should use these tools to leverage our precious time, improving our job satisfaction. At the same time, we should be mindful that some of this new time needs to be dedicated to also watching the machine”. Has your accounting firm seen the positive impacts of machine learning?

To read more, see the full article from Will Bible in Accounting Web.