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Artificial Intelligence Assignment Sample

   

Added on  2021-02-20

8 Pages1836 Words53 Views
Applied research: Assessment 3

TABLE OF CONTENTSBrief summary.............................................................................................................................1Common Findings.......................................................................................................................1Different themes..........................................................................................................................2Managerial implication................................................................................................................3Study limitation of articles...........................................................................................................3REFERENCES................................................................................................................................5

Brief summary With advancement in technology, Artificial Intelligence (AI) has emerged as the latesttechnology that brought radical changes in the entire world on the whole. Primarily, it hascreated a drastic impact on business operations and functions that bridged the gaps and fosterbetter connectivity and transparency as well. AI has provided a platform to improve theirefficiency and ease operational process. Now, AI has also been used in accounting that hashighly impacted on the accounting practices. As accounting is entirely based on severalprinciples it includes guidelines that must be followed. It provides a basic framework throughwhich different accounting practices are executed which has made the practices more convenientand easier. AI has transformed the practices. There are several ethical implications which areformed. Besides this, protection of consumer data is first priority in accounting practices. AI maybe completely involved in the monitoring and evaluating of compliance with regulations,organizational policy, employee evaluations and even hiring and firing. Obviously, accountingsoftware is not new to the profession. Tax filing software has not put accountants out of business,it has, in fact, made them more efficient and made it possible to file many more returns than theycould before.There are various applications of accounting and also different types of accountingsystems. So, for each one different system is used. The main ethical issues that is been faced bycompanies in using AI. They are lack of responsibility of auditor in case of system failure, etc.Due to this there is negative impact of business. Beside this, there is lot of misuse of data andinformation and authorities are not taking responsibility. Hence, several ethical implications areformed. With help of it, AI is implemented in accounting. It could be noted that Institute OfChartered Accountant in England and Wales (ICAEW) is now exploring the more and more useof Artificial Intelligence in way to improve existing service for the members and service user. AsAI is most powerful system which is also improving day by day with providing accurate andexact results. It has also been found out management accounting is one of the pivotal areas in providingthe ethical code of practices under the monetary and non monetary practices at organizationalcontext. The global disruptions led to more complicated challenges to survive the competition inthe marketplaces in terms of socio-economic and technological aspects. This proves beneficial1

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