Artificial Intelligence in Accounting | Study

1/22/2020
Ruining Head: ARTIFICIAL INTELLIGENCE IN ACCOUNTING 0
Student name
Artificial
Intelligence in
Accounting
Report

ARTIFICIAL INTELLIGENCE IN ACCOUNTING 1
Table of Contents
Introduction................................................................................................................................1
The role of AI in Accounting.....................................................................................................1
Data entry:..............................................................................................................................1
Digital payment methods:......................................................................................................2
Automatic processes in accounting:.......................................................................................2
Security management:............................................................................................................2
Credit score assessment:........................................................................................................2
Role of integrated data transfer in accounting...........................................................................2
Conclusion..................................................................................................................................4
References..................................................................................................................................4

ARTIFICIAL INTELLIGENCE IN ACCOUNTING 2
Introduction
Artificial Intelligence (AI) is beneficial for many processes in accounting especially in
integrated data transfer between different computer systems and software. In addition,
accounting is the process of a business, which is an important part of a firm. Many firms have
used accounting software for managing all the works of their accounting and financial
processes1. Thus, it is necessary to use secure systems and techniques for transferring
integrated data between two systems. This report will provide discussion about the impact of
AI and integrated data transfer on accounting in the future.
The role of AI in Accounting
There are different tools and techniques for managing accounting services in a firm, which
was based on AI. Moreover, many firms have included AI tools and techniques in the various
processes in accounting, such as security, notification, audit, procurement, digital payment
methods, data entry, and analysis2.
In addition, AI has provided new methods for making accounting easy and better as well as
high performance3. There are some fields in which AI makes huge changes, which will be the
future of accounting, which areas:
Data entry:
Structured data is necessary for many processes in business analysis and decision making. In
addition, AI provides help into this matter as AI tools can be used for managing a large
amount of data, which have spread over various documents and files. AI-based systems can
1 Arash Bahrammirzaee, "A comparative survey of artificial intelligence applications in
finance: artificial neural networks, expert system and hybrid intelligent systems." Neural
Computing and Applications 19.8 (2010): 1165-1195.
2 David Brougham, and Jarrod Haar. "Smart technology, artificial intelligence, robotics, and
algorithms (STARA): Employees’ perceptions of our future workplace." Journal of
Management & Organization 24.2 (2018): 239-257.
3 Hassan Damerji, Technology Readiness Impact on Artificial Intelligence Technology
Adoption by Accounting Students. Diss. University of La Verne, 2020.