AI in Accounting Automation Predictive Analytics Fraud Detection Financial Management

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Sameer KP

AI in Accounting Automation Predictive Analytics Fraud Detection Financial Management

Authors: Sameer KP

Unique Paper ID: 173481
Volume: 11
Issue: 10
PageNo: 682-685

Keywords: AI in Accounting Automation Predictive Analytics Fraud Detection Financial Management

Abstract:
Artificial Intelligence has made a significant impact in the world of finance and accounting. AI-based tools empower enterprises to reconcile financial activities quickly..Accounting, classified as an information system, today in our world is aligned with information technology to expand its productivity capabilities [1]. Accountants are required to enhance the efficiency and productivity of their duties and functions as providers of information. The advancement of technology has led to changes in accounting processes, making tasks more manageable. The accounting field has been transformed due to the progress in accounting software, information technology, and the latest developments in artificial intelligence. The impact of information technology extends beyond accounting practice, influencing students, organizations, and regulatory bodies involved in accounting through the utilization of digital systems, knowledge of information systems and technologies, and their integration into accounting education. Students will enhance their comprehension and practical skills in utilizing technology for the accounting industry. Investigation examines how accounting information systems (AIS) can benefit from AI to boost AIS's use of AI improves financial management by processing large amounts of data. This paper explores the transformative role of AI in accounting and finance, examining its applications, benefits, challenges, and future prospects. Through the integration of AI technologies, organizations can streamline operations, improve accuracy, mitigate risks, and drive strategic insights. However, this paradigm shift also presents challenges such as data privacy concerns, ethical implications, and the need for up skilling. By addressing these challenges and embracing AI-driven innovations, accounting and finance professionals can unlock new opportunities for growth and efficiency in the digital age [2].

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Cite This Article

ISSN: 2349-6002
Volume: 11
Issue: 10
PageNo: 682-685

AI in Accounting Automation Predictive Analytics Fraud Detection Financial Management

Available:https://ijirt.org/article?manuscript=173481

Impact Factor
8.01 (Year 2024)

UGC Approved
Journal no 47859

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